HFT4253 Hanks Exam 1 With
Correct Answers
Who owns the actual building/property? - ANSWER The owner.
What is the term for a hotel investor who also manages and operates the
hotel? - ANSWER Owner/ operator.
What is an organization that operates a hotel for a fee? - ANSWER
Management company.
Which type of management company operates hotels for owners using the
management company's trade name as the hotel brand? - ANSWER First tier.
Which type of management company operates hotels for owners but do not
use the management company's name as part of the hotel name? - ANSWER
Second tier.
Improved management quality, documented managerial effectiveness, and
payment for services being tied to performances are the pros of what? -
ANSWER A management company.
What are the cons of a management company? - ANSWER The owner
generally cant choose the GM or top execs, and it's possible that the
objectives of the owner and management company may not be aligned.
What is the term for an arrangement whereby one party allows another party
to use its logo, brand name, systems, and resources in exchange for a fee? -
, ANSWER Franchise.
What is the term for an organization that manages a brand and sells the right
to use the brand name? - ANSWER Franchiser.
What is the term for an individual or company that buys, under specific terms
and conditions, the right to use a brand name for a fixed peropd of time at
an agreed-upon price? - ANSWER Franchisee.
What is the term for the name of a specific hotel group? - ANSWER Brand.
When and what company is considered the first significant hotel franchising
arrangement? - ANSWER 1950s, Holiday Inn.
What is the term used to describe a group of hotels, all of whom share the
same franchise brand name? - ANSWER Chain, brand, or flag. (All correct
answers)
What is the term for the changing of a hotel from one brand to another? -
ANSWER Conversion or reflagging.
What is a legal contract between a hotel's owners and the brand managers
Correct Answers
Who owns the actual building/property? - ANSWER The owner.
What is the term for a hotel investor who also manages and operates the
hotel? - ANSWER Owner/ operator.
What is an organization that operates a hotel for a fee? - ANSWER
Management company.
Which type of management company operates hotels for owners using the
management company's trade name as the hotel brand? - ANSWER First tier.
Which type of management company operates hotels for owners but do not
use the management company's name as part of the hotel name? - ANSWER
Second tier.
Improved management quality, documented managerial effectiveness, and
payment for services being tied to performances are the pros of what? -
ANSWER A management company.
What are the cons of a management company? - ANSWER The owner
generally cant choose the GM or top execs, and it's possible that the
objectives of the owner and management company may not be aligned.
What is the term for an arrangement whereby one party allows another party
to use its logo, brand name, systems, and resources in exchange for a fee? -
, ANSWER Franchise.
What is the term for an organization that manages a brand and sells the right
to use the brand name? - ANSWER Franchiser.
What is the term for an individual or company that buys, under specific terms
and conditions, the right to use a brand name for a fixed peropd of time at
an agreed-upon price? - ANSWER Franchisee.
What is the term for the name of a specific hotel group? - ANSWER Brand.
When and what company is considered the first significant hotel franchising
arrangement? - ANSWER 1950s, Holiday Inn.
What is the term used to describe a group of hotels, all of whom share the
same franchise brand name? - ANSWER Chain, brand, or flag. (All correct
answers)
What is the term for the changing of a hotel from one brand to another? -
ANSWER Conversion or reflagging.
What is a legal contract between a hotel's owners and the brand managers
