This is the total number of properties, including hotels, resorts, and other establishments that a company operates.
For example, Intercontinental Hotels Group (IHG)'s number of properties includes all its locations across its large collection of brands including Holiday Inn, Crowne Plaza, and Hotel Indigo. Note that a "property" embodies all establishments in a given location- for example, a golf course and a hotel on the same location are counted as one property.