The hotel industry has seen a proliferation in the number of players and stakeholders that can and should be involved in a successful hotel. Hotel brands, owners and management companies have created permutations and combinations of operating models that, when used appropriately, will increase profitability, make a project more attractive to lenders and add value to guests. Given this, the question owners must then ask themselves is: What model is right for my hotel? This article aims to provide a brief overview and comparison of leases, franchises and management agreements.