LODGING IN HOSPITALITY INDUSTRY
Lodging industry is a dynamic subset of Hospitality Industry which is done by hotels, motel, hostels or a private room which includes bed and breakfast. Lodging is offered by leasehold or real property estate including hospitality industry or hotel industry.
There are four basic types of lodging owernship and management. There are as follows:-
- Privately Owned and Operated
- Leased
- Franchise Model
- Managed
Privately Owned and Operated:- This type of ownership gives the owner all freedom. The owner of the hotel has all rights to make decisions for his/her staffs, and also on operational structure and growth.
Leased:- This is also a privately owned lodging industry but the physical structure of building belongs to someone else.
Franchise Model:- In this ownership, the owner's profit and loss is totally dependent on Brand name of the industry. When the industry is recognised by its brand name by consumers then the owner will be in profit. But when the consumers cannot recognise industry's brand name then owner will suffer.
Managed:- This is an existing privately owned industry with recognised brand name, smaller or bigger any type. The industry is considered as privately owned but managing industry takes all the day-to-day responsibility.
