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Classifications of lodging properties; franchising in the lodging industry

1. What are some of the classifications of lodging properties? What are some examples of real-world lodging properties that represent these classifications? What are the differences between limited-service and full-service hotels? Why do these differences exist?

2. How does franchising work in the lodging industry? When should a hotel consider becoming a part of a franchise? Explain your answer. Is franchising a successful strategy for all hotels? Why or why not?