Hospitality Real Estate Development—Undergraduate Concentration
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About the Hospitality Real Estate Development Concentration
In the contemporary tourism industry, the hospitality sector must confront the complex mechanisms of finance and economics. The real estate development concentration engages both by considering hospitality development and investment as integrally connected. Reflecting the experience many undergraduates encounter in practice, this concentration views hospitality development through the lens of finance, examining the ways each can add value to the other. In addition, the concentration will emphasize the importance of design in real estate development, exploring how the built environment and space can have an impact on hospitality investment and value. As part of a hospitality development discourse, financial analyses—feasibility studies, economic models, and investment strategies—acquire added social, cultural and aesthetic dimensions.
Perfect if you like: Business, Design, Numbers, Reading, Research
The concentration in Hospitality Real Estate Development requires 2 courses as specified below, as well as 8 credits of additional required courses.
Required Courses
HF314: Hospitality Market Feasibility and Valuation—(2 Credit Hours)
Offered: Spring
Prerequisites: SHA HF 210, SHA HF 220, SHA HF 260, and SHA HF 270
This course provides an introduction to and detailed instruction regarding the hotel market and feasibility research process including hands-on preparation of a feasibility analysis for a proposed hotel development. The course will consist of a series of lectures and possible guest lectures regarding the fundamental aspects of hotel feasibility analysis. Students will learn about and then put into the practice the analytical techniques presented, building to completion of a full feasibility analysis in a team fashion which will be presented at the end of the semester both in written and oral form.
HF315: Fundamentals of Hotel Real Estate Deal—(2 Credit Hours)
Offered: Spring
Prerequisites: SHA HF 210, SHA HF 220, SHA HF 260, and SHA HF 270
The purpose of this course is to introduce the students to the various aspects of a Hotel Real Estate Deal. The target audience is any student who aspires to have a career involving the ownership, development and/or financing of lodging assets. 2 cr. Offered Spring Semester.
Additional Required Courses
Pick any 8 credits of available concentration electives.
HF322: Hospitality Design—(4 Credit Hours)
Offered: Spring & Fall
Prerequisites: SHA HF 220 and SHA HF 270
This course is designed to introduce students to the basic 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.
HF415: Hospitality Asset Management—(2 Credit Hours)
Offered: Spring & Fall
Prerequisites: SHA HF 310
This course is designed to introduce the student to a rapidly growing area of the lodging industry, namely, asset management. The course will define what asset management is today and examin the skills required to be a successful asset manager. There will be a special focus on the benefits to the hotel owner of hiring an asset manager and the role of the asset manager in representing the owner in deliberations about annual operating budgets and capital plans with the hotel management company. In order to effectuate this understanding, the course will also concentrate on hotel investment analysis including market analysis, benchmarking and pro forma preparation, and developing an asset management plan.
HF416: Hospitality Franchising—(2 Credit Hours)
Offered: Spring & Fall
Prerequisites: SHA HF 220 and SHA HF 270
This course deals with both the legal and practical applications of franchise systems including the startup, development, operation and management of franchises from the perspective of both the franchisor and the franchisee. Particular emphasis will be placed on the franchisor- franchisee relationship, as well as organizational development for building and operating multi-unit franchised systems. The course will focus on both the restaurant and hotel industries.
