[lotsofpulp]

Technically, most hotels do own the property they offer. Hilton, Hyatt, Starwood, Marriott, IHG, Choice, Wyndham are all brands. They sell the reputation, that the owners of a hotel building buy (i.e. franchise) and pay royalties to.

Sometimes a hotel brand owns the hotel building, sometimes a hotel brand manages the hotel, and sometimes they do both. But in the vast majority of cases, the hotel brand is in a franchising agreement with the hotel owner, and many times the hotel owner will hire a management company to deal with running the hotel itself.