Number of players: 2 to 6.

TERMS
Active Chain --- chain on board
Board --- playing board
Chain --- two or more hotels on adjoining squares (not diagonally)
Chainmaker --- player creating chain
Chain Marker --- colored tile placed on one of hotels on board to designate a chain
Defunct Chain --- an open chain which has been taken over by a larger chain as a result of a merger
Founder’s Bonus --- one free block of stock in new chain awarded chainmaker
Hotel --- black playing tile
Majority Holder’s Bonus --- lump sum paid two largest shareholders in a chain which has just been made defunct or in an active chain at end of game
Merger --- two or more chains connected in one play
Mergermaker --- player causing a merger
Open Chain --- chain of 10 or less hotels
Permanently Unplayable Tile --- hotel which would merge two safe chains
Safe Chain --- chain of 11 or more hotels
Shareholder --- player owning stock
Stock Certificate --- one block of stock (25 per chain)
Stock Market --- tray containing money, stock certificates and chain markers
Temporarily Unplayable Tile --- hotel which would create an eighth chain

SETUP
Place board in center of table and cluster hotels (black tiles) face down around it. Each player receives an information Card and $6,000 in the following denominations :
4---$1,000 bills
3---$500 bills
5---$100 bills

To determine who plays first, each player draws one hotel and places it in its matching square on board. (If Two or more hotels are placed adjacent to each other at this time, they do not create a chain. ) Player placing lowest number starts. In case of tie for low number, letter nearest beginning of alphabet starts. (For example, 2-B would beat 2-E or 3-A.) Each player draws six hotels from cluster on table and stands them in a row facing him.

PLAY
Each player’s turn consists of :

1. Placing one of his hotels on its matching square on board. If this hotel creates a chain or causes a merger, all transactions connected with Creating Chains or Merging Chains are completed before player’s turn continues.
2. Buying Stock. If, after placing his hotel, there are one or more hotel chains on board, player may, if he wishes, buy stock in one or more of them. ( See Buying Stock.)
3. Drawing another hotel to replace the one played.
   
   Play rotates clockwise.
   
   UNPLAYABLE TILES. At the end of his turn, a player who has any permanently unplayable tiles (hotels which would merge two or more safe chains) may set them aside (out of the game) and draw new ones to replace them. A player may not replace any temporarily unplayable tiles (hotels which would create an eighth chain). If all six of his hotels are unplayable, he is prohibited from playing a tile but may, if he wishes, buy stock during that turn.

CREATING CHAINS
When a player places a hotel next to one already on board (rank or file --- not diagonally), he creates a chain. For example, hotels 1-A and 2-B are on board but do not form a chain as they adjoin diagonally (not rank or file). Among his six hotels, player has 2-C and 1-B. He places 2-C, creating a two-hotel chain. (If he had placed 1-B, he would have created a three-hotel chain.) On his next turn, he places 1-B, expanding the chain to four hotels. (If, during the setup, two or more hotels were placed adjacent to each other, player adding another adjacent hotel creates the chain.

Chainmaker chooses name of chain from the seven listed on Information Card, takes chain marker of corresponding color from Stock Market and places it atop one hotel in chain. He then receives Founder’s Bonus of one free block of stock in that chain. (If, as occasionally happens late in game, Stock Market has no available stock in that chain, Founder’s Bonus in not issued.)

A maximum of seven chains may be on board at one time. Any hotel which would create an eighth chain may not be placed.

MERGING CHAINS
When a player places a hotel adjacent to two (or more) chains, he has caused a merger. Chain with greater number of hotels takes over the other. If chains are same size before merging hotel was placed, merger-maker chooses which chain takes over. Chain marker of defunct chain is removed and returned to Stock Market. (If more than two chains are merged by one hotel, see Multiple Mergers.)

A chain containing 11 or more hotels is safe and cannot be taken over by another chain. A player may not place a hotel which would merge two safe chains. A safe chain may take over an open chain (one-with 10 or less hotels).

MAJORITY HOLDER’S BONUS. At merger time, Stock Market pays compensatory bonuses to two largest shareholders in defunct chain (see Information Card---Majority Holder’s Bonus, First and Second). In case of tie for largest shareholder, first and second Bonuses are combined and divided equally between tying shareholders; if Bonuses do not divide equally into even $100 amounts, tying players receive the next greater amount. In case of tie for second largest shareholder, second Bonus in divider equally between tying players. If only one player holds stock in defunct chain, he receives both Bonuses.

DISPOSAL OF STOCK AT TIME OF MERGER. After Majority Holder’s Bonuses have been paid, each player, starting with merger-maker and continuing clockwise, handles his stock in the defunct chain in one or more of the following ways:

1. Hold: Stock may be held in expectation of starting another chain with that name.
2. Sell: Stock may be sold to Stock Market at price determined by number of hotels in defunct chain before merger.
3. Trade: Stock may be traded on basis of two blocks of defunct stock for one block of controlling chain’s stock. (If Stock Marker has no remaining blocks of controlling chain’s stock, players may not trade.)

MULTIPLE MERGERS. When multiple mergers (mergers of more than two chains) occur, largest chain takes over smaller chains simultaneously. Multiple merger is ten handled as individual mergers. Majority Holder’s Bonuses are paid for larger of defunct chains and players dispose of their stock in this chain. Then smaller defunct chain is handled in same manner. In case of tie, mergermaker chooses defunct chain to be handled first. Bonuses and stock prices are determined by number of hotels in defunct chain before merger.

BUYING STOCK
Any player, after placing his hotel, may buy stock in any active chain---up to a maximum of three blocks in any one turn. If he is unable to place any of his hotels (see Unplayable TILES), HE MAY STILL BUY STOCK. His purchase may be in one, two or three chains. Price per block varies with number of hotels in chain (see Information Card).

A player who runs out of money cannot buy stock but must place a hotel if he is able. He cannot raise money by selling stock except during disposal period after a merger.

Trading and selling of stock between players is mot permitted since all transactions are with Stock Market. When all stock of one chain has been sold, players wishing to purchase stock must do so in other active chains.

At any time, player may ask how much stock remains in Stock Market for a particular chain.

ENDING THE GAME
Game ends when one player, during his turn, announces that either all chains on board are safe or that one chain contains 41 or more hotels. (A player does not have to announce that the game is over if it is to his advantage to continue playing.) After announcing that the game is over, player may finish his turn.

Majority Holder’s Bonuses are paid for all active chains. All players sell their stock to Stock Market. (Stock in a chain that is not on board is worthless.) Player with the most money is the winner.

SPECIAL RULES FOR TWO PLAYERS
When two play, game follows rules for regular ACQUIRE until a merger is made. At this time, Stock Market is considered to own stock in defunct chain for purpose of determining Majority Holder’s Bonuses. A hotel is drawn from cluster on table to determine how much stock in defunct chain is "owned" by Market. (If 9-F is drawn, Stock Market is said to own 9 blocks of defunct chain’s stock.) Majority Holder’s Bonuses are paid to two largest shareholders. (If one player has 11 blocks, the other has 5 and the Stock Market "owns" 9, player with 11 blocks receives first Bonus and the second Bonus is retained by Stock Market.) After payment of Bonuses and disposal of stock in the defunct chain, but before player’s purchase of stock, hotel drawn for stock market is placed on board. Unless another merger is created, play continues in normal fashion.

If Stock Market’s hotel causes a merger, Stock Market again competes for Bonuses and, after disposal of stock, new hotel is placed on board. If Stock Market’s hotel is permanently unplayable, it is placed aside and is out of the game. If Stock Market’s hotel would create a chain, it is placed but no chain is formed until a player adds another hotel. (This player then receives Founder’s Bonus.)

At the end of game, Stock Market again competes for Majority Holder’s Bonuses for each active chain. At this time Stock Market’s hotels are not placed on board but are simply set aside.

CATALOG OF NEW GAMES & REPLACEMENT PARTS LIST… is available from The Avalon Hill Game Company, 4517 Harford Road, Baltimore, Md. 21214. Questions on play will be answered upon receipt of a self-addressed envelope containing current first-class postage.

Copyright 1976 The Avalon Hill Game Company, Balto., Md. Printed in USA. Formerly a Minnesota Mining & Mfg. Co. Game.

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