Most hotels include a three-way partnership between property owners, operators and creditors. Each of these three partners have different benefits and investment goals.

Property Owners: The yield is one of the primary benefits of a property owner. These may be in the form of income yield (cash flow from the establishment) or valuation yield (increased hotel value). Both yield forms are important for the property owner, but one of them will most probably step forward depending on the investment goals of the owner.

After the yield, another thing that the property owners are interested in is to own a competitive hotel. They want a quality hotel with a suitable brand which is positioned in a suitable market, under the management of a suitable operator.

They also want power on the management and operation of the hotel. They desire the necessary influence to actualize their strategic views regarding the property. Property owners also want to have the flexibility required to sell or refinance, should they ever prefer. They need this flexibility to gain their valuation yields. Finally, property owners may own hotels for a number of non-financial reasons.

For many property owners, owning a hotel ensures much more prestige than other investments or real estate. In order to truly understand the property owner behavior, it is important to know all types of motivation.

Operators: The primary interests of the brand operators depend on market presence and market share. This is valid for five-star hotels which are present in all routes and require property in every city; and for the budget chains who aim to acquire a property in the market location of their customers. The operators want to be at every location that their clients look for a place to stay in. Independent operators are primarily motivated by gaining profit in exchange of their management expertise.

The operators also want to maintain a level of privacy as high as possible to actualize their strategic vision (in order to run the hotel befitting to its brand and to maintain the operation standards).

The operators also emphasize long term stability, so that they can prevent the property owners, by signing a long term contract, from ending the contract arbitrarily or selling the establishment to a third party. As a result, the operators also want to make the necessary renovations andto know the financial capacity and ambition of the owner in order to provide the establishment's capital, should the circumstances require it.

Creditors:The biggest objective of the creditors is the reward they will gain from the risk of loan they take, by ensuring that the investment adapts to all the active risks

Creditors manage the risks by "underlining" two important matters: The first one is that the creditor's cash flow is much higher than the loan service. The second one is that the creditor is sure that the property's value is significantly higher than the amount loaned.

Creditors, as tools of risk management, also have an eye on quality, the competition status of the hotel and whether it is managed by a first class operator or not.

Creditors want to have influence on their investments in order to actualize their strategic vision and to protect their investments. As a result, creditors also have an eye on the flexibility of the repayment and restructuring of the loan in difficult times.