The Hotel Industry's Billion-Dollar Secret

How giants like Marriott and Hilton built empires by ditching real estate—and what their resilient 5-year performance teaches every investor about modern value.

What if the biggest names in hospitality don't actually own most of their hotels? It sounds like a riddle, but it’s the powerful truth behind one of the most successful business strategies on the market today. This "asset-light" model, which favors profitable brand fees over costly real estate, has turned hotel giants into highly flexible and scalable m…