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| Topic: |
Business
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| Number of pages / Number of words: |
9 / 2475 |
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The corporation's past success had been achieved through the building of hotel properties for sale to investors, while at the same time maintaining long-term lucrative service contracts that would bring cash flow to the corporation.
MC went into joint ventures by constructing hotels and selling them to the Equitable Life Insurance Society, which became a very profitable and powerful growth strategy...
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Over one five year period, MC sustained an annual growth rate of 30% and had 70% of their hotel rooms owned by outside investors. The growth was so substantial that the corporation gained an exceptional reputation in the field for quality and reliability in service, which lead to hotel occupancy rates between 4 and 6% above the industry average...
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