Restraining opportunism in hotel management contracts

Panvisavas, Veerades; Taylor, J Stephen

Abstract

Management contracts are widely used throughout the world as a mechanism for separating the ownership of hotel properties and their management. The research reported here concerns how Thai hotel owners seek to control the international hotel chains where properties are operated under hotel management contracts (HMCs). Adopting agency theory, the research findings reported here suggest that restraints against agent opportunism tend to focus on two key aspects: contractual controls and operational controls. Additionally, the findings also suggest that the outcome control needs to be viewed as a priority for effectively controlling hotel management companies when using HMCs.

Citation

Panvisavas, V., & Taylor, J. S. (2008). Restraining opportunism in hotel management contracts. Tourism and Hospitality Research, 8(4), 324-336. https://doi.org/10.1057/thr.2008.33

• Journal Article Type: Article
• Online Publication Date: Oct 13, 2008
• Publication Date: 2008-10
• Deposit Date: Nov 1, 2019
• Journal: Tourism and Hospitality Research
• Print ISSN: 1467-3584
• Electronic ISSN: 1742-9692
• Publisher: SAGE Publications
• Peer Reviewed: Peer Reviewed
• Volume: 8
• Issue: 4
• Pages: 324-336
• DOI: https://doi.org/10.1057/thr.2008.33
• Keywords: Tourism, Leisure and Hospitality Management; Geography, Planning and Development
• Public URL: http://researchrepository.napier.ac.uk/Output/826279