This first-of-its-kind textbook presents a balanced overview of the theory and practice of hotel chains' growth strategies. With real-world examples in every chapter, it explains how and why the largest worldwide hotel chains have gained their present international status and shows how to forecast future developments. Subjects covered include diversification vs. specialization; various types of integration; acquisitions, mergers, and strategic alliances; franchise contracts, management contracts, leaseholds, and ownership; and branding and globalization. Charts, tables, and figures make complex information easy to access and understand.

Acknowledgments, Chapter 1. The Concept of a Strategy, Chapter 2. Competitive Strategies, Chapter 3. Diversification versus Specialization, Chapter 4. Vertical Integration, Chapter 5. Horizontal Integration, Chapter 6. Diagonal Integration, Chapter 7. Acquisitions and Mergers, Chapter 8. Strategic Alliances: The Case of Joint Ventures, Chapter 9. Franchise Contracts, Chapter 10. Management Contracts, Chapter 11. Leaseholds and Ownership, Chapter 12. Branding, Chapter 13. The Internationalization-Globalization of Hotel Chains, Notes, Bibliography, Index