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Rank-Ordering Alternatives: Convince Franchisee-Owners to Remodel: Assumption: Franchisee-owners are financially capable and willing to invest in the hotel. Probability of Success: High if owners value the long-term benefits of a renovated hotel and improved profitability. Convince Franchisor for Time and Options: Assumption: Franchisor is flexible and open to negotiations. Probability of Success: Moderate to High, depending on the franchisor's commitment to the brand and willingness to support improvements. Allow Franchise Agreement to Terminate: Assumption: The hotel can successfully rebrand as an independent entity. Probability of Success: Moderate, dependent on effective rebranding efforts and market acceptance. Assume Hotel Failure and Seek Another Job: Assumption: Job market has suitable opportunities. Probability of Success: Low, as it involves surrendering control over the hotel's fate and accepting potential career setbacks. Identified Alternatives: Seek New Investors or Partners: Assumption: There is potential interest from investors or partners. Probability of Success: Moderate to High if the proposition aligns with investors' interests. Simultaneous Pursuit of Alternatives: 1

Convince Franchisee-Owners to Remodel and Seek New Investors: Pursuing both these alternatives simultaneously could amplify the financial backing for the hotel's renovation. Overall Strategy for Saving the Hotel and Protecting Interests: Conduct a Comprehensive Assessment: Evaluate the current financial health of the hotel, potential returns on investment, and the market's reception to a renovated property. Engage Franchisee-Owners: Present a compelling business case, emphasizing the long-term benefits of a renovated hotel, increased profitability, and sustained brand reputation. Highlight potential returns on their investment. Negotiate with Franchisor: Seek flexibility in contractual obligations, requesting additional time and support for the hotel's upgrade. Emphasize the mutual interest in maintaining a strong brand presence on the island. Explore New Investors or Partnerships: Investigate potential investors or partners interested in contributing to the hotel's renovation. Offer equity or profit-sharing arrangements to attract financial support. Prepare for Independence: Simultaneously, prepare a contingency plan for rebranding as an independent hotel. Develop a new marketing strategy, branding elements, and customer engagement initiatives. Communicate Transparently: Maintain open communication with all stakeholders, including employees, franchisee-owners, and potential investors. Transparency fosters trust and collaboration. 2

Utilize Industry Expertise: Consult with hospitality industry experts to gather insights into successful rebranding and renovation strategies. Leverage their expertise to enhance decision-making. Monitor and Adapt: Continuously monitor progress and market dynamics. Be prepared to adapt strategies based on the evolving situation. By pursuing a multi-faceted approach, the overall strategy aims to maximize the chances of success while protecting personal and business interests. This strategy allows for flexibility, taking advantage of potential synergies between securing financial support and negotiating with franchisee-owners. References: Kotler, P., Bowen, J. T., Makens, J. C., & Baloglu, S. (2017). Marketing for Hospitality and Tourism. Pearson. Enz, C. A. (2010). Hospitality Strategic Management: Concepts and Cases. John Wiley & Sons. Hayes, D. K., & Ninemeier, J. D. (2007). Human Resources Management in the Hospitality Industry. John Wiley & Sons. Schmitt, B. (2010). Experience Marketing: Concepts, Frameworks and Consumer Insights. Foundations and Trends® in Marketing, 5(2), 55-112. 3

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Vanhove, N. (Ed.). (2017). The Routledge Handbook of Transport Economics. Routledge. 4

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