The entity which provides the brand/flag of the hotel and manages distribution, standard operating procedures, design and style guides, training guides, software and various other aspects to a separate operator. In many cases this includes sustainability software.
The entity which operates the hotel, responsible for day-to-day operations and staffing the hotel. Sometimes this is one of the well-known brands, but in many cases it’s a third -party who manages the hotel under a franchise agreement.
The entity which owns the hotel building, responsible for the building itself and all elements related to it (this can include the lease holder as well as the legal owner of the building). The owner is responsible for approving operator budgets and making investments in the building’s upkeep and its equipment.