Master in International Tourism Management
This is an advanced course in the financial evaluation of hospitality projects and the decisions related to their subsequent financing. The selection of value creating projects is integral to the success of hospitality firms. In addition, project financing decisions can have significant impact on the full realization of a project's value creation potential. In order to provide the hospitality managers with state of the art tools in project-related decision making, this course examines the theory related to hospitality project selection and financing and applies it to a specific hospitality project.
The focus of this course is on developing the analytical and conceptual skills to test the feasibility of a business concept. The feasibility analysis involves evaluating the status, assessing the potential for expanding of an existing product or service, and evaluating the potential for a new product or service. Main topics of the semester-long feasibility analysis of an actual business typically include:
- basic principles of hospitality project evaluation;
- presenting project evaluation techniques in the commercial hospitality sector;
- developing and using pricing schemes in hospitality lodging evaluation.
To successfully complete this course students must work together weekly on project teams developing business plans for the specific hotel project.