Real Estate

• SHA RE 717: Hospitality Real Estate Finance & Feasibility
  This course is designed to facilitate a working knowledge of hospitality properties as financial and real estate assets. Students will learn the hotel market and feasibility research process, to understand how to analyze hotel markets across the world, identify and evaluate key forces that impact the performance of hotel markets and the hotels within them, determine the right hotel product for each site and market and forecast future performance. The course will also provide a grounding in the basic concepts of real estate finance and how they are used by stakeholders to make hospitality investment decisions. The class culminates with the preparation of a feasibility study where the students will conduct a highest-and-best-use analysis, project a ten-year proforma for their hospitality asset, estimate development costs, and then prepare an internal rate of return analysis to determine the financial viability of the asset. Students will also arrive at the estimated market value of the proposed hospitality development using the discounted cash flow and direct capitalization approaches. Students will also create their own financial models in this course and learn how to use them effectively as tools to support critical decision-making.
• SHA RE 722: Hospitality Design
  This course is designed to introduce students to the principles of facility planning, layout and design for hotel, dining, kitchen, public and service areas. At the completion of the course, students will be able to explain the design process common to all hospitality facilities, as well as the activities that occur during each phase of this process.
• SHA RE 745: ​Introduction to the Hospitality Real Estate Lifecycle
  This course is designed to outline the real estate process within the hospitality industry. Coursework will draw a clear distinction between job functions, particularly hotel development, acquisitions, and asset management. Course work will follow the life cycle of a hotel asset, from sourcing a deal to disposition. Students will develop an understanding of financial modeling as well as a baseline knowledge of how macroeconomic trends impact decision making when making hospitality investments.