Olet täällä

Hotel Feasibility Study

Hotel Feasibility Study

• Code: SMB3RB013D
• Extent: 4 ECTS (108 h)
• Timing: Semester 5.-6.
• Language: English
• Level:  Specialization studies
• Type: Professional Specialization Studies (PSS)

Prerequisites
Managing Hotel Business Operations. The Course is part of the Professional Specialization Studies Hotel Management entity. 

Please note, that this course is part of the Hotel Management Module consisting of 4 courses:

SMB3RB013A Concept Based Product Development
SMB3RB013B Managing Sales and Distribution
SMB3RB013C Management of Accommodation Operations
SMB3RB013D Hotel Feasibility Study

You should not sign up for a single course, you have to take all 4 courses and the whole module, total 13 credits.
There will be a joint project and course assignment for all the 4 courses.

Learning outcomes
The aim of the course is that the student understands the global business models of hotel business and is capable of implementing them in a case situation.  The student manages business analyses and is capable of implementing them successfully and to base a feasibility study on them. The student is capable of calculating the proper price tag for an accommodation business and to present his/her case to financers and other parties.

Upon finalising the course the student
•    Can interpret financial statements (profit and loss account and the balance sheet) and has a broad knowledge of how to implement them
•    Understands the economic thinking behind all business operations
•    Knows industry-related operational environments, networks and the boundary surfaces of the sector
•    Knows operational models and the inter-relationship between different divisions of the accommodation and restaurant business
•    Understands the economical and operational requirements of a business
•    Can analyze and assess business risks
•    Can perceive business operations on the short and long run according to the business plan

Course contents
•    Hotel business models
•    Operating an accommodation business in a changing environment
•    Hotel real estate business
•    Hotel cash-flow analyses
•    carrying out a feasibility study
•    Managerial presentation of the case results

Cooperation with the business community and other organisations
During the course the students utilize real-life accommodation businesses and analyze their operational reality.

International
The course content is based on international, common practices, concepts and models of analysis, standard operating procedures and ways to assess the feasibility of a given tourism project.

Teaching and learning methods
It is possible to complete the course based on classroom learning:

a) Classroom learning:
Lectures and Examination 56 h
Self-studies 51 h
The assessment of one’s own learning 1 h

Introduction, classroom learning, student group assignments and presentations, independent learning.

Recognition of Prior Learning, RPL  (in Finnish AHOT)
The required skills and competences can be demonstrated by a skills examination.

Teacher/s with the main responsibility for the course
Martti Palonperä

Course materials
Handout material by the teacher
Independent material search by student groups

Assessment
Managerial report and its presentation 100%
Active participation

The assessment of one’s own learning does not influence the grade. The assignment is the same for all courses/modules and the answers will also be used for course/module development. The assignment is completed online in WinhaOpaali.

Assessment criteria

Grade 1
-    student recognizes business models used in international hotel industry
-    student understands the connection of hotel business practice and real-estate investments
-    student is a passive participant in his/her team
-    the added value of the student to the managerial report is limited
-    presentation of the final report is not up to the managerial level
-    student is able, with help, to carry out a cash-flow analysis, time-value of funds and discounting

Grade 3
-    student is able to explain the basic principles of calculating the profitability of a hospitality business
-    student is able to critically read and apply international feasibility study reports
-    student is able to compare hospitality business models and the profitability creating practices in them
-    student is capable of acting as an active member in a team

Grade 5
-    student is capable of carrying out a limited feasiblity study
-    student recognizes and provides proper argumentation of the meaning of real-estate investment from the point of view of hospitality feasibility study
-    student is, on a managerial level,  an active, goal-directed and responsible member of his/her team