Which is a true statement about management companies?

Management companies play a crucial role in the hotel industry by overseeing the operations of hotels on behalf of the owners. A key aspect of their business model involves receiving payments, which can come in various forms such as fees for their services or a percentage of the hotel's profits. This arrangement allows management companies to align their interests with those of hotel owners, as their compensation is often tied to the performance of the hotel.

The other options do not accurately reflect the nature of management companies. While some management companies may operate independently of chains, many work within the context of larger hotel brands. Not all management firms focus exclusively on independent hotels; they also manage properties that are part of larger chains or franchised hotels. Additionally, it is not a requirement for management companies to own the hotels they operate, as their core function is to manage properties on behalf of the owners.