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3, According to Medlik & Ingram (2000) hotels play an important role in most countries in providing facilities for the transaction of business, for meetings and conferences, for recreation and entertainment. In many areas hotels are important attractions for visitors who bring to them spending power and who tend to spend at a higher rate than when they do when they are at home. Distinguish the differences in ownership formats in hospitality businesses, including franchising, contracted, sole proprietorship, partnerships, and corporations.