The Master of Management in Hospitality’s Real Estate Development & Finance concentration concentration equips students with the analytical skills to make informed decisions in the dynamic hospitality real estate sector. As global operations expand and customer expectations evolve, hospitality properties are no longer just places to stay—they’re integral experiences.
This concentration prepares students for roles in property management and investment by offering a comprehensive view of real estate transactions in hospitality. The curriculum emphasizes operational and financial analysis needed to manage real estate assets, ensuring students understand both in-house and third-party operations.
The Expanding Hospitality Real Estate Field
Hotels were once considered a stopover, but today they’re destinations offering far more than a place to sleep. Modern hotels, especially in cities like Boston, boast multiple five-star restaurants and resort-like amenities, as customer expectations for unique and personalized experiences grow.
With global chains managing diverse portfolios, hospitality real estate professionals must go beyond managing buildings. They must:
Reposition properties for new markets
Embrace sustainable, functional design
Balance risks and returns for long-term investments
Reuse historic structures
Develop memorable guest experiences
Evaluate properties within their destination and brand context
This concentration equips you to meet these evolving challenges in a dynamic, global landscape.
About the Real Estate Development and Finance Concentration
Factoring in the field’s increasing digitalization and globalization, the Real Estate Development and Finance concentration helps students hone their risk assessment skills regarding real estate investment and performance. With this end goal in mind, the program introduces students to multiple real estate-specific topics applicable to the hospitality industry and beyond.
Project Management: Coursework covers real estate project development from concept to opening, including cycles, capital markets, asset management, ROI analysis, and ownership structures.
Financing Sources: Students identify potential financing through investment analysis, tax considerations, capitalization theory, equity waterfalls, mortgage securitization, and portfolio strategy.
Financial Concepts: Students gain analytical tools for assessing financial issues, GAAP-prepared accounting, financial modeling, and strategic views of real estate transactions.
All full-time MMH students start the fall semester with four required courses that comprehensively explore upper-level hospitality operations. By the spring semester, students take four elective courses, including three from their selected concentration.
For the summer semester, a 300-hour internship requirement allows students to apply their knowledge in the field. MMH students who already work in the hospitality industry may waive this requirement if they have sufficient and relevant experience.
Required Courses—4 Courses (16 Credit Hours)
All MMH students begin with four required courses—HF701, HF711, HF762, and HF733. The required courses aim to create a solid foundation in hospitality management and operation fundamentals and offer a springboard into the more specialized concentration subjects. Courses introduce students to
the tools and skills needed to analyze hospitality-specific issues;
key accounting and financial concepts necessary for business planning;
traditional and digital marketing techniques needed to evaluate revenue, profits, and customer loyalty; and
essential leadership strategies for managing a hospitality workforce in a changing industry, including standard human resources and employment practices.
Real Estate Development and Finance Concentration Courses—3 Courses (12 Credit Hours)
Building upon the skills introduced in the required courses and often students’ own industry experience, this MMH concentration focuses on several concepts specific to hospitality real estate investment and operation:
HF 717: Real Estate Finance and FeasibilityHF 619: Hotel Development and Deal MakingHF 679: Financial Reporting and Analysis
Read the complete course descriptions and all options for electives on our MMH Curriculum page.
Part-Time MMH Opportunities
The School of Hospitality (SHA) designed the MMH program to be completed in one year on a full-time track. However, because many of our MMH students currently work day jobs in the hospitality industry and want to advance to a management role, part-time evening scheduling is an option on a case-by-case basis.
Part-time MMH students take one or two courses per semester, with all classes held after working hours. Part-time students work through the same structure as full-time students, completing all required courses before selecting their concentrations, but complete the program within two years.
Career Services for MMH Students
Of all locations to take your hospitality career to the next level, Boston is chock full of employment opportunities in the field—the city is home to a variety of restaurants, convention centers, hotels, and tourist attractions. SHA strives to connect our students with these prime positions, whether for internships or landing a full-time role, and we leverage our strong relationships with hospitality organizations and industry leaders to help students get on their desired path. Explore the full scope of SHA’s career services.
Our dedicated Marriott Career Center serves as a bridge between SHA students and employers in the hospitality sector. MMH students can utilize the career center’s services to fulfill their work requirements, prepare for their job search, or take advantage of corporate recruitment periods and additional hiring opportunities.
Careers in Hospitality Real Estate
According to figures from the Bureau of Labor Statistics, careers in managing, renting, buying, and appraising real estate are expected to grow 7% from 2018 through 2028—faster than the average for other occupations. Individuals with degrees in business administration and real estate are optimally positioned to take advantage of these opportunities, and as one route into the industry, the Real Estate Development and Financing concentration prepares students for careers with:
Financial institutions
Lenders working with the hospitality industry
Appraisal firms
Asset management companies
Hospitality consulting firms
Brokers
Real estate investment trusts
Starting the MMH Application
Students considering the MMH degree with a Real Estate Development and Finance concentration need to submit the following documents with their online application:
An undergraduate transcript
At least two letters of recommendation
Resume or CV
A one- to three-minute video
A written personal statement
Students aren’t required to submit GRE and GMAT scores. However, to demonstrate English proficiency, international students must earn a minimum score of 84 on the TOEFL or 6.5 on the IELTS.
Learn More About the MMH Degree—Real Estate Development and Finance Concentration
Do you see yourself planning or managing real estate projects involving hotels, resorts, and other hospitality properties? An MMH degree with a Real Estate Development and Finance concentration takes you through all aspects of the industry and equips you with the skills needed to succeed in a management-type role.
