Question: The large accommodation chains like Marriott, Accor do not run individual hotels themselves but rather lease the naming rights to a franchisee who leases the

The large accommodation chains like Marriott, Accor do not run individual hotels themselves but rather lease the naming rights to a franchisee who leases the building from a property trust. What are the main advantages for hotel chains of not directly operating the hotel? What are the main disadvantages of the franchisee not owning the building?

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