Isn't it "always" rather than "frequently"? In case of hotels. Hotel chains are brand operators, their job is to build up brand value through ads, enforcing quality standards within hotels of their chain, and managing their loyalty program. They are not supposed to operate hotels, let alone own them.

Because entities that operate hotels (paying royalty to the hotel chain), almost always do not own the hotels per se i.e. real estate. They rent it. From holding companies that did not build it, they bought them ready from real estate developers who start a project targeting several potential buyers usually picking the actual one while construction is near finishing. And the developer is also not building the building, construction company does it, the developer just manages the land deal, licensing, permitting, and architectural designs, asking construction company to do particular phases of work with a particular budget. And that one then subcontracts different things to different entities, who in turn manage imports of the labor force and materials and manage people who do the work... The chain is looong.