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Managing Dynamic Hospitality Business

Managing Dynamic Hospitality Business

Code: HOT2RZ006
Scope: 9 credits
Timing: 3rd academic year
Language: English
Level: Professional studies
Type: Compulsory

Learning objectives
Upon completion of the course, the student is able to
•    recognize, analyze and apply various hospitality business models and concepts
•    critically identify, measure and apply the new trends in the dynamic hospitality industry
•    understand the relevance of e-commerce and digital marketing, and can make use of new and different sales- and distribution channels
•    demonstrate skills in managing demand and supply
•    implement a feasibility study of hotel investment project and to conduct basic financial analyses with effect of risk included using Excel spreadsheet
•    demonstrate management level team skills
 
Contents
•    Various hospitality business models and concepts
•    Trends in the dynamic industry
•    Different sales- and distribution channels
•    Managing supply and demand through revenue management
•    Feasibility study including forecasted income statement and cash flow analysis
•    Methods to evaluate financial feasibility of hotel investment projects

Starting level and linkage with other courses
Recommended to be studied after the course Developing Hospitality Processes and Financial Accounting.

Assessment
The course is evaluated on a scale excellent (5), very good (4), good (3), satisfactory (2), fair (1), fail (0). The assessment criteria is presented on a scale 1 - 3 - 5.

Grade 1
The student can name new hospitality business models and concepts. Can discuss the concepts of supply and demand and can explain the methods used to evaluate financial feasibility of hotel investment projects.

Grade 3
The student can identify and suggest new hospitality business models and concepts. Has abilities in managing supply and demand and can produce a simple feasibility study to a hotel investment project using given instructions.

Grade 5                                                                                                                                                    
The student can develop and argue for new hospitality business models and concepts.. Can manage supply and demand and critically use information for business decisions and development. Student is capable to carry out a limited feasibility study and critically discuss it with financers.

Working life connections
This course involves industry based learning and cooperation with the hospitality industry.

Internationality
Course content is viewed both globally and locally.

Learning methods
The learning goals of this course can be reached in the following way
a. Lectures and related assignments as full-time studies.

Assessing one’s own learning is a compulsory part of the course.

Teachers responsible
Anna-Liisa Aarti, Haaga
Pekka Heikkilä, Haaga
Nina Niemi, Haaga