Cendant's Super 8 budget entry knows that it, too, needs local know-how in China and figures its franchising model is the way to get it.

FORBES: The Bed Business

Franchising, an approach central to the U.S. hotel industry and Cendant's way in China as well (see " The Bed Business"), is for another day, in Liang's view.

FORBES: On The Cover/Top Stories