Financial Management in Hospitality
This module examines the principles of hospitality finance, including the mathematics of finance, sales accountability, working capital and capital asset management, and cost of financing, property valuation, and report analysis. Students will apply practical approaches to reading, interpreting, and analyzing hospitality industry financial statements and management reports of the industry. Students will apply the knowledge of accounting principles to operate a successful hospitality department or business.
Marketing and Revenue Management
This module aims to equip students with the skills to identify and exploit opportunities for revenue and operational optimisation in the hospitality industry. Students will explore the application of sales and marketing techniques and how it can impact the revenue goals of the hotel. Strategies like effective management of electronic channel distribution, sales and marketing structure, pricing and forecasting models that will impact profitability throughout the various forms of accommodation. Students will be equipped with the skills to formulate and evaluate hotel rate plans; booking trends and patterns; forecast length of stays and manage occupancy situations. They will also learn to use the IDeaS, and Global Distribution Channels, to manage and optimise revenues and yield.
Business Law in Hospitality
In today’s world, hotel managers are called upon to make decisions about their guests that will impact the legal standing of the hotel. This module aims to equip students with the knowledge of hospitality laws that cover the guests against injuries or accidents while at the hotel. It also examines topics on hospitality contracts, regulatory and administrative concerns in this industry, as well as the hotel’s responsibility as an operator to the guests.