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A sole proprietorship is owned and operated by a single individual, with no legal distinction between the owner and the business. An example would be a family-owned and operated bed and breakfast.

A partnership involves two or more individuals who share ownership and operation of the hotel. Partners share profits, liabilities, and management duties. An example could be two professional hoteliers co-owning a boutique hotel.

A corporation is a more complex structure that is a separate legal entity from its owners, who are shareholders. An example would be a large hotel chain that is publicly traded on the stock market.

An LLC combines the tax benefits of a partnership with the limited liability of a corporation. An example might be a small to medium-sized hotel managed by its members or hired managers.

In a franchise, the franchisee pays for the rights to use the branding, systems, and support of a larger parent hotel company. An example is an individual or entity operating a hotel under a well-known brand like Hilton or Marriott.