Question

________ usually allows for the hotel company to manage the property for a period of five, ten, or twenty years. For this, the company receives as a fee, often a percentage of gross and/or net operating profit, usually about 2-4.5 percent of gross revenues.

Answer 1

Answer: Management contract

Explanation:

Management contract is referred to as or known as the arrangement where operational authority of the organization or enterprise is moreover vested by the contract in the separate organization or enterprise that tends to perform the necessary or significant managerial functions in turn for a fee. These contracts does not just involve selling a diverse methods of things but also tends to involve doing them.