As a developing countries make a transition to market-based economies, one of the first major capital...

As a developing countries make a transition to market-based economies, one of the first major capital investment is in "western-quality" hotels. Explain why brand-name hotel accommodations are a critical step in attracting foreign investment.

Expert Solution

Tourism is a main financial growth sector: it is a fast-growing and labor-intensive industry involving many financial operations. Investment promotion organizations (IPAs) can play an significant part in the growth of a country's tourism industry as increasing global competition among tourism destinations and increased contestability of foreign direct investment (FDI) initiatives make efficient promotion vital to attracting sector investors.

Recognizable brand names indicate products of quality. This signal can be critical at the early phases of growth in the tourist and business services industry to guarantee that tourists have a quality experience when other data is inaccessible or unreliable.

A hotel franchise enables individuals or investment companies (the franchisee) to build or purchase a hotel and then buy or lease a brand name to operate a business and become part of a chain of hotels using the franchisor’s hotel brand, image, goodwill,

Collaborating with international brands likes Marriott, Starwood, Hilton Group, Sheraton Hotels and Indian brands like Taj Group, Trident will ease the marketing process as these global players have properties worldwide. Hotels will get visibility and accessibility to the global market through franchisee model

Rahul Sunny answered 1 year ago

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