3. Answer the following questions:

1. Such as restaurant chains, which the same way as a manufacturing company, the hotel industry faces some peculiar difficulties due to its peculiar management and ownership structure.

2. Hotels throughout the world have commonly been acquired for the sake of tax benefits or even as an ego fulfilling device, particularly in the case of upscale showcase properties.

3. Major hotel chains cannot do it because they often even do not own all the properties that they manage, such as restaurants retail stores, fitness centers, and nightclubs.

4. The great increase in value of the Hilton and Sheraton companies has not come from operating profit but from buying, selling, tax advantage, and in appreciation of value of the hotels with time.

5. In the mid – 1970s the US experienced 12 percent inflation and shortage of good hotel inventory.

6. The insurance and pension funds industry which at the time was cash rich, began to invest heavily in new hotels. This meant that there was too much money (demand) chasing too few rooms (supply).

7. Many of these were massive mixed – use commercials project consisting of hotels, office blocks, and shopping malls. In some cities, these complexes were not built for the right reasons: America’s inner cities were in decline.

8. Because hotels are catalyst for other business, every city major offered significant benefits to major hotel investments, including tax breaks. And hospitality industry began to recover from the recession.

4. Write out from both texts the underlined part of the sentences, give the names of the grammar tenses and explain their usage in the sentences.

Text I.

1. This industry was represented by a great number of independent properties – Past Simple Passive Voice (by after the passive verb is used: when the meaning is not complete without it).

2. Franchising allows a hospitality company to expand more rapidly by using other people’s money than if it had to acquire its own financing. – Passive Voice (by after the passive verb is used: for information about the method of “doing” something.)

3. A property is leased for a percentage of gross sales, generally 20 to 40 per cent. – Present Simple Passive Voice (am, is are +V3)

4. The Puerto Rico government wanted to encourage tourism by having a broad name hotel with management expertise. – Passive Voice (by after the passive verb is used: for information about the method of “doing” something.)

Text II.

1. Restaurant chains have highly centralized – Present Simple (have/has +V3)

2. Hotels throughout the world have commonly been acquired – Present Perfect Passive Voice (have been + V3).

3. This meant that there was too much money (demand) chasing too few rooms (supply). – Past continuous (Was/were +Ving)

4. These complexes were not built – Past Simple Passive Voice (negative -)