Acquire
Invest in shares and orchestrate mergers: whoever cashes in best on acquisitions wins
An absolute classic by Sid Sackson (1964), one of the most influential economic games in history. Players do not run companies: they invest in them. By placing tiles on a numbered board they found and grow hotel chains, and buy shares in the ones they believe will prosper.
When two chains touch, a merger (M&A) takes place: the larger chain absorbs the smaller one, and the majority and minority shareholders of the absorbed chain collect bonuses according to their stake. The value of each share depends on the size of the chain, and chains of more than eleven hotels become safe (cannot be absorbed). The whole game is portfolio management, investment timing and reading the market with imperfect information.
Classroom value
- Playable mergers and acquisitions: students experience first-hand the shareholder's role when their chain is absorbed — shareholder value and merger arbitrage.
- Majority vs. minority: position bonuses illustrate incentives, free-riding and the importance of investment timing.
- Consolidation and barriers to entry: "safe" chains of 11+ model market power and monopoly.
- Medium complexity and quick-to-teach rules → highly scalable to large classes as a demo or finance practical.