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Abstract


FRANCHISING AS A STRATEGY OF ENTERING FOREIGN MARKETS IN THE HOTEL INDUSTRY

Objectives: This paper aims to provide the theoretical basis of a franchise business with particular reference to the hotel industry. In addition, this paper aims to provide a detailed analysis of the world's most prominent franchises in the hotel industry and compare the situation in Croatia to the rest of the world. Methods: Almost half (47%) of all franchised hotels globally are owned by four large franchise chains: Accor, Marriott International, Hilton and InterContinental Hotels Group. In order to provide the essential theoretical knowledge about the franchise and franchise business, these four hotel franchises are analyzed. Results: Franchise business presents an excellent opportunity for future hotel owners. However, the analyzed hotel groups do not offer direct or indirect financing forms to help interested entrepreneurs enter into a franchise business. Conclusion: A franchise business is an attractive entrepreneurial alternative for entrepreneurs who have lack of knowledge and lack of capital. The franchise business in the hotel industry in the Republic of Croatia is present but not to the same extent as in other tourist developed countries. Therefore, it is necessary to design appropriate sources of financing that would facilitate entry into the franchise relationship.



Keywords
franchise business, hotel industry, entrepreneurship



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