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“Accessibly written and thoughtfully edited, making it essential reading for those studying hospitality and embarking on a career in the industry.” - Peter Lugosi, Oxford School of Hospitality Management “This text is a fascinating read… Roy Wood has spent 25 years teaching, researching and writing on the hospitality industry - much of that learning is here in this book.” - Erwin Losekoot, Auckland University of Technology “All different aspects of the hospitality industry are elaborated on… All in all a wonderful course book for for our students!” - Claudia Rothwangl, ITM College This book covers the major concepts students are likely to encounter throughout their study within the hospitality management, giving a comprehensive and up-to-date overview as well as providing engaging everyday examples from around the world. A leading figure in the field, Roy Wood has successfully gathered international contributors with direct experience of hospitality management and the hospitality industry as a whole, ensuring the academic, geographical and practical integrity of the book. Key Concepts in Hospitality Management is written for undergraduate students and those studying short postgraduate or executive education courses in hospitality management, events management, tourism management and leisure management.

E. Hachemi AlioucheUdo A. Schlentrich

See also: Entrepreneurship in hospitality; Industry structure and sectors in hospitality

Franchising can be divided into two major categories: business format franchising and product (or trade name format) franchising. Business format franchising is defined by the International Franchise Association (IFA) (2011) as a marketing method in which the owner of a product or service, known as the ‘franchisor’, offers the right to operate and manage their product and service to others, the ‘franchisees’, in return for a fee and ongoing royalty payments. Product or trade name format franchising is where the franchisor gives a right to the franchisee to distribute a product or use a trade name and is most commonly found in the soft drink, automobile and gasoline distribution industries.

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