Hotels May Be Owned and Operated Using Four Basic Management

question 37

Essay

Hotels may be owned and operated using four basic management systems.Briefly summarize the four major forms of ownership/operation, focusing on the following topics:
a)two positive aspects of each style of ownership
b)two negative aspects of each style of ownership
c)Define a REIT and explain the purpose they fulfill in the lodging industry.
d)Which of the management systems discussed in this question would you most like to own or operate? Explain your reasons.

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Definitions:

William James

A philosopher and psychologist who is considered the father of American psychology, known for his theories on pragmatism and functionalism.

Emerging Discipline

A newly developing field of study or area of professional practice that is gaining recognition and establishment in the academic and occupational landscape.

Levels Of Analysis

The differing complementary views, from biological to psychological to social-cultural, for analyzing any given phenomenon.

Complementary Accounts

Explanations or narratives that provide additional information or perspective to complete an understanding of a situation or concept.