Extent: 9 ECTS
On successful completion of this module, the student:
1. Managing a dynamic hotel business
- can critically identify measure and apply the new trends in the dynamic hospitality industry
- can evaluate the right managerial skills and implement them in managing an accommodation business
- can manage demand and supply
2. Ability to proactively anticipate, develop and manage customer-driven accommodation operations
- understands the relevance of e-commerce and digital marketing, and can make use of new and different sales- and distribution channels
- is able to manage and develop accommodation operations
- has a solid understanding of sales and revenue management and can apply the learning into every-day operations.
3. Hospitality concept development
- ability to recognize and apply various models of concept development in accommodation business
- skills to analyze hospitality business concepts and to develop them for company future success
- understanding of the value and prerequisites of hotel branding and, along with it, franchise cooperation(general picture, benefits, terms, and conditions of franchising)
- management level team skills
4. Short and long-term calculations of financial feasibility
- statistical, and economic and financial analysis of hotel industry development
- understanding of the fundamentals of statistics (probabilities, regression analysis, forecasting methods)
- aility to understand the operating and ownership models of the hotel industry
- hotel Business is Real Estate Business - basics of real estate development: zoning, types of real estate, developers, and contract types (lease, management, franchise contracts, and operator-ownership)
- ability to evaluate business profitability and cash flow
- understanding the time value of money, and of short- and long-term return demands on equity and debt
- understanding of the value formation of business operations and real estate, and their dependency on each other
- risk analysis by Monte Carlo risk simulation (prerequisite fundamentals of statistics)
- ability to understand feasibility studies and to conduct basic analyses with effects of various risks included
Cooperation with the business community and other organisations
- Industry visits
- Guest lectures
Teaching and learning methods
The own learning assessment 1 h
Recognition of Prior Learning (in Finnish AHOT)
Teacher/s with the main responsibility for the course
Assessment components and their respective weights
- can manage supply and demand and critically use information for business decisions and development.
- can design a sales and distribution strategy for an accommodation business and justify the decisions.
- can develop and argue for new hospitality business concepts
- can compose a cash flow spread sheet and a pre-feasibility study and analyze these.
The own learning assessment assignment does not impact your grade. The assignment is the same for all courses/modules and your answers will be used also for course/module development. The assignment is completed online in WinhaOpaali.