Synergies between the two companies
Synergies between the two companies
Synergies between the two companies
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Using <strong>the</strong> right operating structure<br />
for each segment<br />
Hotel segment Preferred operating structure<br />
� Management contracts<br />
with minority stake<br />
� Variable rents, based on<br />
a % of revenues<br />
� Franchises<br />
� Fixed/variable rents<br />
� Franchises<br />
40
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