What is the meaning / definition of / ?

A contract between a owner and a hotel franchise where the franchise company allows a hotel to use its services and name for a fee. Services a franchisor can provide are for example national advertising, reservation system, training and other depending on the hotel franchise company. A hotel usually lasts 20 years, but depending on the hotel and franchise company the contract length can from 5 years to, in rare cases, 100 years.

This contract also requires that the hotel meets certain standards or admits to certain rules & regulations in order to keep the contract. Examples therefore are that the franchisor requires the hotel to purchase from its approved suppliers, the use of the company’s , franchise inspections for quality of facilities, upgrades to the hotel every few years or decades and other mandatory requests by the franchise company.

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