You can copy template multiple times under different name, and assign different copies to menu items. We already had one case of that workaround for one customer, but he used j1.5 where module positions are only recognized by name, If you use j1.6 or j1.7 you would have to do additional work, you would need also to make clones of modules to exist in same module position in different template. Example: you have breadcrumbs module on every page if you put that module in module position breadcrumbs of hot_sportal_copy1 it will not appear in menu item that uses template hot_sportal_copy2. You would have to have clone of breadcrumbs module for hot_sportal_copy1/mod.pos. breadcrumbs and also hot_sportal_copy2/mod.pos. breadcrumbs.
Beside template folder name you must also change <name>hot_sportal</name> XML node in templateDetails.xml file when copying.
In folder templates\hot_sportal\styles\
you have files :
style1.php
style2.php
...
They correspond to Style1,Style2 ....
you can edit this files to change parameter values .