Hospitality Management, M.S.

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SCHOOL OF SPORT, TOURISM AND HOSPITALITY MANAGEMENT

About the Program

The goal of the M.S. program in Hospitality Management is to develop advanced professionals in the hospitality field with emphasis on marketing, operations, and event management. Education should enable professionals in this field to be expert managers, marketers, and planners in the public, private, and commercial sectors. The program prepares students to be middle-level and, eventually, upper-level managers within the hospitality industry. The degree program is based not only on the practical application of management techniques, but also on the theoretical foundation that defines the profession. This makes the degree program clearly distinct from generic management curricula that do not include an industry-specific core.

Students interested in studying at the doctoral level should refer to the Ph.D. program in Business Administration with a concentration in Tourism and Sport offered by the Fox School of Business and Management.

Time Limit for Degree Completion: 4 years

Campus Location: Main, with some electives available online

Full-Time/Part-Time Status: The degree program can be completed on a full- or part-time basis.

Interdisciplinary Study: The program encourages interdisciplinary coursework, research, and interactions among faculty and students with interest in management, information technology, and research.

Study Abroad: Students who wish to do their internships abroad work closely with the Center for Student Professional Development, which assists with the necessary contacts and supervision.

Areas of Specialization: Students may select from a series of rotating elective courses in the following areas of interest:

Event Management
Hospitality Operations Management
Tourism and Hospitality Marketing

Job Prospects: Students typically find placement in event management, hotel marketing, hotel operations, hotel and resort management, restaurant management, venue and convention management, and other fields within the industry.

Financing Opportunities: Students are automatically considered for merit scholarships from the School of Sport, Tourism and Hospitality Management (STHM) at the time of admission. Scholarships are awarded on the basis of a student’s academic history and professional experience.

Teaching and Research Assistantships within STHM are reserved for students who are capable of teaching undergraduate classes in specialized academic areas or assisting in faculty research. Graduate Externships are also available in a variety of areas around the university. Only admitted students may be awarded assistantships and externships.

Teaching Assistants (TAs), Research Assistants (RAs), and Graduate Externs (GEs) are expected to provide between 5 and 20 hours per week of service throughout the academic year. A nine-month stipend and partial or full (up to 9 credits) tuition remission for the Fall and Spring terms are offered for TAs and RAs, depending on the number of hours worked. GEs receive a stipend only. Applications for assistantships and externships are not evaluated until a Graduate School application and all appropriate materials have been received. The evaluation of applicants for Teaching and Research Assistantships and Graduate Externships begins by March and continues until all positions have been filled.

Admission Requirements and Deadlines

Application Deadline:

Fall:

December 15 – Early Admissions Deadline
March 1 – Priority Scholarship Deadline and International Deadline
June 30 – Final Application Deadline

Applications are processed as they arrive through the deadline. Late applications may be considered for admission if space is available.

APPLY ONLINE to this STHM graduate program.

Letters of Reference:
Number Required: 2

From Whom: Letters of recommendation should be obtained from college/university faculty members familiar with academic competence and/or past or current work supervisors.

Bachelor's Degree in Discipline/Related Discipline: All applicants must present credentials that are the equivalent of the appropriate baccalaureate degree at Temple University.

Statement of Goals: In 500 words or less, describe your short-term and long-term professional goals. Explain how this program will help you attain those goals.

Standardized Test Scores:
GMAT/GRE: Scores may be requested based on the applicant's academic and/or professional background. Candidates with an undergraduate GPA below 3.0 are required to submit valid GMAT or GRE test scores. Consult an admissions advisor with any questions.

Applicants who earned their baccalaureate degree from an institution where the language of instruction was other than English, with the exception of those who subsequently earned a master’s degree at a U.S. institution, must report scores for a standardized test of English that meet these minimums:

TOEFL iBT: 79
IELTS Academic: 6.5
Duolingo: 110
PTE Academic: 68

Resume: Current resume or CV required.

Transfer Credit: Graduate credits from an accredited institution may be transferred into the program. The credits must be equivalent to coursework offered in the Master of Science in Hospitality Management and cannot have been used to complete another degree either at Temple University or another institution. The grade must be a "B" (3.0 GPA) or better in order to transfer. The maximum number of credits a student may transfer is 6.

Program Requirements

General Program Requirements:
Number of Credits Required Beyond the Baccalaureate: 30

Required Courses:

Year 1
Fall		Credit Hours
THM 5311	Service Management for the Tourism and Hospitality Industry	3
THM 5315	Strategic Tourism and Hospitality Marketing	1.5
THM 5601	Service Industry Analytics	3
Elective¹		1.5
	Term Credit Hours	9
Spring
THM 5313	Financial Mgt Tour/Hosp	3
THM 5602	Service Experience Design	3
Elective(s)¹		3
	Term Credit Hours	9
Summer
Select one of the following:		3
STHM 9995	Master's Project
THM 5485	Graduate Internship
Elective^1,2
	Term Credit Hours	3
Year 2
Fall
THM 5316	Strategic Management in the Tourism and Hospitality Industry	3
THM 5317	Tourism and Hospitality Management Consulting Project	3
Elective(s)¹		3
	Term Credit Hours	9
	Total Credit Hours:	30

Selection of electives requires the approval of the Academic Director.

This elective is only to be taken if an elective is missed in a prior term.

Approved Electives

Students may select from the courses below, with the understanding that not all courses may be offered:

Course List
Code	Title	Credit Hours
SRM 5243	Event Management ¹	3
THM 5312	Legal Issues for Hospitality and Event Enterprises	1.5
THM 5315	Strategic Tourism and Hospitality Marketing	1.5
THM 5322	Strategic Brand Management	1.5
THM 5327	Customer Relationship Management in Tourism and Hospitality	1.5
THM 5329	New Media and Distribution	1.5
THM 5331	Hospitality Operations Management	1.5
THM 5334	The Business of Event Management	1.5
THM 5335	Effective Sales Management	1.5
THM 5336	Revenue Management and Hotel Analytics	1.5
THM 5341	Destination Events - A Global Perspective	3
THM 5343	Cultural Intelligence ¹	3
THM 5344	Crisis, Risk and Disaster Management ¹	3
THM 5603	Food and Beverage Management	1.5
THM 5604	Event Logistics and Risk Management	1.5
THM 5605	Entrepreneurial Thinking for Hospitality and Event Industries	1.5
THM 5606	Hospitality Cost Control	1.5

Selection of SRM 5243, THM 5343, and/or THM 5344 require the approval of the Academic Director.

Culminating Event: Successful completion of coursework earns the student the M.S. degree in Hospitality Management. Key to completion of the degree is the student's experience undertaking STHM 9995 Master's Project or THM 5485 Graduate Internship.

Courses

THM 5311. Service Management for the Tourism and Hospitality Industry. 3 Credit Hours.

This course provides an introduction to the underlying principles of service management in the tourism and hospitality industry. It is focused on the strategies, systems, processes and design aspects of creating and evaluating service delivery, service excellence and service orientation. Topics include understanding the "service-dominant logic" approach to marketing and managing service, setting service strategy, understanding customer needs, building a service-minded workforce, measuring and evaluating service quality, and drivers of service industry customer loyalty.

Level Registration Restrictions: Must be enrolled in one of the following Levels: Graduate.
College Restrictions: Must be enrolled in one of the following Colleges: Sport Tourism Hospitality Mgt.

Repeatability: This course may not be repeated for additional credits.

THM 5312. Legal Issues for Hospitality and Event Enterprises. 1.5 Credit Hour.

Hospitality law, especially when dealing with customers and business contracts, will form the basis of this course. Consideration is given to the legal implications of civil laws as well as areas of tort and contract, along with the law and legal relationships that exist in the business context. Issues will be discussed from the points of view of hoteliers, restaurateurs, and event planners. Attention will be given to labor relations laws, the Americans with Disabilities Act, risk management, zoning, and unions, with a particular focus on the legal implications for hospitality and event startups.

Repeatability: This course may not be repeated for additional credits.

THM 5313. Financial Mgt Tour/Hosp. 3 Credit Hours.

The course will analyze managerial accounting and financial management as they are practiced in the tourism and hospitality industry, along with management strategies for financing ventures and expansion. Topics will include hospitality accounting systems and internal control, financial statement analysis and interpretation, operational analysis, cost behavior, budgeting and forecasting, pricing and feasibility analysis. Computer applications will be highlighted.

Level Registration Restrictions: Must be enrolled in one of the following Levels: Graduate.

Repeatability: This course may not be repeated for additional credits.

THM 5314. e-Business for Tourism and Hospitality. 3 Credit Hours.

This course will examine how and why electronic business and the Internet have impacted the tourism, hospitality, and entertainment industries. It will discuss the various business models that are used, and highlight the successes and failures of those models. Topics will include marketing, finance, strategy, and globalization with special emphasis on information technology and the dissemination of information.

Repeatability: This course may not be repeated for additional credits.

THM 5315. Strategic Tourism and Hospitality Marketing. 1.5 Credit Hour.

This course provides a strategic overview of marketing in the contemporary tourism and hospitality industry. Important topics include marketing concepts, service characteristics, marketing environment and intelligence, marketing research, marketing mix, segmentation, targeting and positioning. Special emphasis will be placed on the analysis of the marketing environment and the diversity of marketing practices used by tourism/hospitality marketers in today's global market place. The course is designed as the foundation course for the Tourism and Hospitality Marketing concentration in the MSHM program.

Repeatability: This course may not be repeated for additional credits.

THM 5316. Strategic Management in the Tourism and Hospitality Industry. 3 Credit Hours.

This course covers the concepts of strategic management in the tourism and hospitality business environment and the role of strategic leadership practices. Strategic management principles will be examined to create competitive advantages for tourism and hospitality industry leaders and organizations. Specifically, the course examines the total enterprise, the industry, and the competitive environment in which it operates. The goal is to develop a mastery of the analytical tools to perform analyses of the environment, industry, competitors, and organizational resources. Management implications that are related to strategy development, implementation, and control are examined with a focus on the effective allocation of organizational resources.

Field of Study Restrictions: Must be enrolled in one of the following Majors: Tourism and Hospitality Mgmt.
Level Registration Restrictions: Must be enrolled in one of the following Levels: Graduate.
College Restrictions: Must be enrolled in one of the following Colleges: Sport Tourism Hospitality Mgt.

Repeatability: This course may not be repeated for additional credits.

THM 5317. Tourism and Hospitality Management Consulting Project. 3 Credit Hours.

The THM Consulting Project is designed as a capstone experience to enable MTHM students in their final semester, to work in consulting teams, analyzing real tourism and hospitality business problems, recommending appropriate actions for client organizations in the greater Philadelphia region. In teams of three to five, students will emphasize their critical and creative thinking that they have developed as a result of participating in the MTHM program to enable effective problem identification with a solution orientation. Teams will develop a written report that provides an analysis of the current situation, recommended solutions, as well as a detailed implementation plan. A formal presentation of the report to the client organization is also required. A strong emphasis will be placed upon developing consulting skills which will augment the discipline specific content reflected in other courses.

Repeatability: This course may not be repeated for additional credits.

Pre-requisites: Minimum grade of C- in THM 5485.

THM 5318. Sustainable Tourism Management. 3 Credit Hours.

This course provides an overview of the foundations of the destination design process. Emphasis will be on the basic theory of travel behavior as well as the systems that support the development of destinations. Consideration will be given to the ecological impacts of tourism, examining the processes that enable sustainable destination planning. Special readings from the current literature, case studies, guest speakers, and video cases will form an integral part of this course.

Repeatability: This course may not be repeated for additional credits.

THM 5320. Special Topics in Tourism and Hospitality Management. 1.5 Credit Hour.

This seminar is designed to provide an in-depth exploration of special topics, current issues, and trends in the tourism and hospitality industry. Relevant industry problems and issues facing management and personnel in the related industries will be discussed.

Repeatability: This course may be repeated for additional credit.

THM 5321. Tourism Analytics. 3 Credit Hours.

This course aims to provide tourism industry professionals with the necessary tools to guide/aid decision making. The course is designed to familiarize students with quantitative data management and analytic skills such as econometric modeling, forecasting, interpretation of results, and development of conclusions, using tourism and hospitality information databases, as well as analytical software. Specific emphasis is given to econometric modeling of tourism assets that have cross and/or spatial dependence, in conjunction with applicable urban economics and finance theories. The course has two main goals: development of skill in the use of advanced data analysis techniques and the development of expertise in the interpretation and communication of their results.

Level Registration Restrictions: Must be enrolled in one of the following Levels: Graduate.

Repeatability: This course may not be repeated for additional credits.

Pre-requisites: Minimum grade of B- in STAT 5001.

THM 5322. Strategic Brand Management. 1.5 Credit Hour.

Successful brand management is a requirement for tourism and hospitality organizations operating in highly competitive markets. In providing students the insight to leverage a competitive advantage through brand management, this course will introduce the nature of brands, the importance of the brand establishing a promise, and the tools required to develop a coherent brand strategy. Consideration will be given to the elements of a successful service brand with a focus on establishing a compelling differentiated tourism and hospitality proposition. A strategic brand management framework will set the foundation for the course, enabling students the opportunity to consider, in detail, the elements required to manage a tourism or hospitality brand effectively.

Repeatability: This course may not be repeated for additional credits.

THM 5323. Sustainable Tourism Development. 3 Credit Hours.

This course will examine the three major areas that make up sustainability: economic, socio-cultural, and environmental sustainability. Students will learn how the international tourism industry effects each of these areas and the inter-connectedness of these impacts. Students will investigate the main principles for sustainable tourism development at the local, regional, national, and international levels.

Level Registration Restrictions: Must be enrolled in one of the following Levels: Graduate.

Repeatability: This course may not be repeated for additional credits.

THM 5324. International Tourism. 3 Credit Hours.

The importance and the development of an international tourism market will be discussed, along with the planning and development of an international tourism destination. Cultural tourism and ecotourism will be included.

Repeatability: This course may not be repeated for additional credits.

THM 5325. Gaming and Casino Management. 1.5 Credit Hour.

The objectives of this course are to develop an understanding of the gaming industry. An examination of the evolution of the industry will set the foundation for examining management considerations for casino operations within a casino hotel. Current issues in the casino and gaming industry will be discussed with a detailed examination of trends, policies, and subsequent operational impacts.

Repeatability: This course may not be repeated for additional credits.

THM 5326. Consumer Behavior in Tourism and Hospitality. 3 Credit Hours.

This course provides an overview of current knowledge about consumer behavior in the tourism/travel and hospitality businesses. Basic behavioral science and specific research (both qualitative and quantitative) tools used in marketing practice are covered. Issues of consumer decision-making, behavioral determinants, cultural influences, motivation, information search, and marketing implications are addressed. The course format includes lecture/discussion, student presentations, and a required term paper. The course is designed for graduate students who want to pursue managerial positions in consumer behavior/marketing research in the tourism or hospitality industry. [Basic college-level statistical knowledge is required.]

Repeatability: This course may not be repeated for additional credits.

THM 5327. Customer Relationship Management in Tourism and Hospitality. 1.5 Credit Hour.

This course focuses on the broad spectrum of Customer Relationship Management (CRM) and concentrates on concepts and practices related to building and maintaining customer loyalty and firm profitability in the tourism/hospitality businesses. It emphasizes customer profitability analysis and the profitable management of customer relationships. It covers innovative approaches to calculating the value of customers, managing customer portfolios, and making strategic decisions necessary to increase customer equity using value propositions. Some data mining/ management examples will be used to illustrate the relevant CRM techniques.

Repeatability: This course may not be repeated for additional credits.

THM 5328. Tourism Economics and Policy. 3 Credit Hours.

This course focuses on the role that economics and policy play within the tourism industry. Specific economic and policy theories that are essential for the tourism industry will be investigated. Topics include theory of tourism demand and supply, using cost-benefit analysis, tax policy impacts, tourism valuation, economic analysis in management, and marketing and policy decision.

Level Registration Restrictions: Must be enrolled in one of the following Levels: Graduate.

Repeatability: This course may not be repeated for additional credits.

THM 5329. New Media and Distribution. 1.5 Credit Hour.

This course will examine the fluid and rapidly changing nature of the distribution networks of the tourism and hospitality industry and the resultant effects on branding, loyalty, and value. Specifically, this highly interactive class will explore the complex relationships that currently exist in the tourism and hospitality industry, both in terms of financial and operating structure, and those with vendors who sell their products. A particular focus will be on current and emerging intermediaries, who will increasingly yield substantial influence as the gatekeepers directing consumer traffic, and ways to measure their relative effectiveness.

Repeatability: This course may not be repeated for additional credits.

THM 5331. Hospitality Operations Management. 1.5 Credit Hour.

This course concerns itself with how work is done in hospitality operations. Hospitality operations tend to be complex due to their unique characteristics and highly uncertain environments. Students will develop an understanding of operations management theories and expand their ability to apply suitable theories under different situations. Application of techniques to create, operate, staff and evaluate service systems is emphasized. Consideration is given to queuing, forecasting demand, route and scheduling as well as quality management and liability minimization. The course is designed as the foundation course for the Operations Management concentration in the MTHM program.

Repeatability: This course may not be repeated for additional credits.

THM 5332. Management Information Systems in Tourism and Hospitality. 3 Credit Hours.

This class will examine the implication of information technology on the tourism and hospitality business and how to manage information technology resources within a company to maximize operation efficiency and productivity. Students will learn to be information technology professionals in the industry who can manage, develop, and lead organizational information systems based on the integration of core business concepts and ever-changing knowledge about information and technology.

Repeatability: This course may not be repeated for additional credits.

THM 5333. Seminar for Information Technology in Tourism and Hospitality. 3 Credit Hours.

The final course in the information technology track is a case studies course. We will be examining technology and dot-com case studies in the tourism, hospitality, and entertainment industries. The case study methodology will be covered so that students can conduct and write case studies. For a final project, each student will be writing a case study. It is intended that those case studies may be expanded into a Master's Thesis or Project that is required of students for degree completion.

Repeatability: This course may not be repeated for additional credits.

THM 5334. The Business of Event Management. 1.5 Credit Hour.

The events and meeting industry has long been recognized as a major market sector in the tourism and hospitality industry, and is one of the fastest growing in the industry. This course will provide students insight into its complex and diverse nature as represented in the diversity of the industry, including goal and mission establishment, strategic planning, event program planning and design, program evaluation and many other industry specific topics.

Repeatability: This course may not be repeated for additional credits.

THM 5335. Effective Sales Management. 1.5 Credit Hour.

Personal selling is a significant contributor to tourism and hospitality revenues. In providing students with an overview of the sales management process and its significance to the industry, this course will emphasize experiential based learning. Students will have an opportunity to develop and practice their personal selling skills by participating in field based sales initiatives with industry partners.

Repeatability: This course may not be repeated for additional credits.

THM 5336. Revenue Management and Hotel Analytics. 1.5 Credit Hour.

Perishable inventory with variable demand necessitates effective revenue management to realize the tourism and hospitality mechanism of revenue optimization. Participation in this course will afford students the opportunity to identify and exploit the core elements of revenue management, namely forecasting, controls (pricing and allocation/optimization decisions) and monitoring. This course aims for students to establish a reasonable level of relevant analytical/technical proficiency in each one of these core revenue management elements. Within the broader area of pricing theory, additional emphasis is placed on overbooking, consumer behavior, distribution channel management, and market segmentation. Utilizing STR hospitality metrics, students will develop hotel analytical skills and the opportunity to receive the STR certification in Hotel Industry Analytics.

Repeatability: This course may not be repeated for additional credits.

THM 5341. Destination Events - A Global Perspective. 3 Credit Hours.

This course provides an in-depth and comprehensive analysis for the worldwide festivals and event industry, the impact of current international issues, an understanding of how events and festivals are staged globally, as well as the legal and risk related concerns that come with events and festivals. Characteristics specific to the global aspect of the industry will be examined as well as the essentials of developing an effective inbound tourist experience.

Level Registration Restrictions: Must be enrolled in one of the following Levels: Graduate.

Repeatability: This course may not be repeated for additional credits.

THM 5342. Destination Management and Marketing. 3 Credit Hours.

This course is designed to provide a comprehensive understanding of the role, the scope and the business of destination marketing organizations (DMOs) as well as convention and visitor bureaus (CVBs). The trends, issues and challenges facing DMOs and CVBs will be discussed. In addition, an analysis of the planning process in developing tourism destinations in global, community, metropolitan, urban and rural settings will be investigated. Emphasis will be on stakeholder engagement, product development as well as enhancement of facilities to meet the needs of tourists.

Level Registration Restrictions: Must be enrolled in one of the following Levels: Graduate.

Repeatability: This course may not be repeated for additional credits.

THM 5343. Cultural Intelligence. 3 Credit Hours.

This course will focus on the concept of cultural intelligence (CQ), and provide students with both a theoretical background, as well as practical approaches to using this concept within the travel and tourism industry. Students will become knowledgeable in Hofstede's cultural dimensions, the four areas of CQ, as well as strategies for increasing CQ.

Level Registration Restrictions: Must be enrolled in one of the following Levels: Graduate.

Repeatability: This course may not be repeated for additional credits.

THM 5344. Crisis, Risk and Disaster Management. 3 Credit Hours.

This course will focus on crisis reduction, readiness, response and recovery efforts from both natural and human-induced disasters that affect tourism destinations and businesses. Furthermore, this course will address tourism's potential opportunities for improving systems and procedures.

Level Registration Restrictions: Must be enrolled in one of the following Levels: Graduate.

Repeatability: This course may not be repeated for additional credits.

THM 5345. Understanding Tourism in the 21st Century. 3 Credit Hours.

This course will explore the conceptual foundations of tourism so that all students in the master's program will have exposure to a common core of tourism content. Specifically, this class will introduce students to topics such as leisure theory, travelers' motivations and decision making, the production of tourism and tourism places, globalization of tourism, social theories of tourist practice and experience, tourism policy, planning and governance, and critical perspectives on tourism.

Level Registration Restrictions: Must be enrolled in one of the following Levels: Graduate.

Repeatability: This course may not be repeated for additional credits.

THM 5422. Entrepreneurship and Real Estate. 3 Credit Hours.

The class will focus on real estate issues in hospitality operations, and on the requirements and skills needed to become an entrepreneur in hospitality. As such, the real estate portion will cover general principles of real estate ownership and management, but with a concentration on the unique aspects of hospitality real estate development and financing. Project feasibility analysis and sound underwriting criteria will be a major focus of this section of the course. The entrepreneurship portion of the course will focus on requirements of owning and operating one's own business, including acquisition of capital, capital sources, and preparation of a complete business plan for a new venture.

Repeatability: This course may not be repeated for additional credits.

THM 5485. Graduate Internship. 3 Credit Hours.

The Graduate Internship utilizes a field placement with emphasis on acquisition and application of practical skills. One hundred and eighty contact hours will take place in an agency, under supervision of both the University internship coordinator and the agency-designated supervisor.

Repeatability: This course may be repeated for additional credit.

THM 5601. Service Industry Analytics. 3 Credit Hours.

This course will examine how organizations in the service industry can use analytics to make better decisions to solve practical industry problems. Analytics involves the use of data and data analysis to make fact-based decisions. This class will address the use of data as a tool for strategic success. It will focus on the collection, preparation, analysis, visualization, management, interpretation, and communication of data.

Level Registration Restrictions: Must be enrolled in one of the following Levels: Graduate.
College Restrictions: Must be enrolled in one of the following Colleges: Business & Mngmnt, Fox School, Sport Tourism Hospitality Mgt.

Repeatability: This course may not be repeated for additional credits.

THM 5602. Service Experience Design. 3 Credit Hours.

This course presents an overview of the process of planning and organizing human, environment, technology and culture components of a service experience in order to improve its quality and the interaction between service provider and customers. Students will learn how to measure and evaluate service experiences using both qualitative and quantitative methods. Furthermore, students will learn how to design service experiences according to consumers' needs as well as the service providers' competencies.

Repeatability: This course may not be repeated for additional credits.

THM 5603. Food and Beverage Management. 1.5 Credit Hour.

This course focuses on contemporary challenges that managers and entrepreneurs in food and beverage businesses face. Key operational and financial success factors that underscore effective foodservice management are emphasized. Topics include restaurant metrics and cost control, menu design, service systems and special event planning. Food trends in restaurants, in addition to the structure of the beverage industry, will be explored including alcohol and food safety regulations. Given an increased consumer emphasis on health, both personally and environmentally as reflected in concern about food sources, nutrition and sustainability issues are also discussed.

Field of Study Restrictions: Must be enrolled in one of the following Fields of study: Tourism and Hospitality Mgmt.
Level Registration Restrictions: Must be enrolled in one of the following Levels: Graduate.
College Restrictions: Must be enrolled in one of the following Colleges: Sport Tourism Hospitality Mgt.

Repeatability: This course may not be repeated for additional credits.

THM 5604. Event Logistics and Risk Management. 1.5 Credit Hour.

This course examines event logistics, crisis and risk management strategies as they apply to the hospitality, festival and event industries. It is designed to look at both theoretical and practical elements of event operations and production to include a comprehensive review of logistics, contracts, technical production elements, staging and risk management.

Repeatability: This course may not be repeated for additional credits.

THM 5605. Entrepreneurial Thinking for Hospitality and Event Industries. 1.5 Credit Hour.

Students will be introduced to the fundamentals of entrepreneurship and how to initiate a new hospitality or event venture. Consideration of the stages of conceptualization, development and operation of a new entity will be emphasized, affording students the opportunity to appreciate the requirements to source funds, make location/ distribution decisions and ultimately, successful and sustainable management of the operation. The focus of the course will be idea generation and business plan development.

Repeatability: This course may not be repeated for additional credits.

THM 5606. Hospitality Cost Control. 1.5 Credit Hour.

Effective management of a hospitality enterprise requires strong cost control acumen to ensure the financial goals of the organization are realized. This course will examine all aspects of cost control within hospitality organizations including food and beverage costs, purchasing, labor cost management, menu pricing, cash flow, theft and loss prevention. Consideration will be given to the importance of effective budgeting and understanding hospitality financial ratios as well as other factors contributing to organizational profitability.

Repeatability: This course may not be repeated for additional credits.

THM 5801. Hospitality Asset Lifecycle Optimization. 3 Credit Hours.

This course is designed to give senior hospitality executives an introduction into managing hospitality assets effectively. With its foundation in macroeconomics, this course will provide insight into the requirements for developing optimal asset life cycles, with consideration being given to ongoing performance systems as well as other long-term consequences, such as the environment and the community in which the asset operates (i.e., corporate social responsibility). Specifically, students will be introduced to commercial real estate and hotel investment as well as gain an appreciation of the asset cycle and the asset management process. Brand selection and managing the relationship with the management company are focuses for hospitality asset managers and, therefore, this course. Finally, students will examine current trends in the hospitality investment and finance markets.

Repeatability: This course may not be repeated for additional credits.

THM 5802. Successful Compliance Strategies for Hospitality Asset Management. 3 Credit Hours.

This course will provide a comprehensive overview of laws and regulations that focus on the transactional and operational aspects of maintaining hospitality and/or tourist related business. A student in this executive level course will gain knowledge on asset acquisition, asset management and development, and finally, asset divestiture. The course will span the laws that focus on creating and/or joining an existing business, proper legally sound management of that business and factors/methods of divesting the business. Attention will be given to real estate law, merger and acquisitions, divestiture, labor relations laws, equal employment opportunity laws, including Title VII of the Civil Rights Act and the Americans with Disabilities Act, and risk management.

Repeatability: This course may not be repeated for additional credits.

THM 5803. Business Analytics for Executive Decisions in Hospitality. 3 Credit Hours.

This course aims to provide senior hospitality professionals with the necessary tools to guide executive decisions from analysis of hospitality asset prices and returns. The course is designed to familiarize students with quantitative data management and analytic skills, such as handling of hospitality asset data, econometric modeling, forecasting, interpretation of results, and development of conclusions. Specific emphasis is given to econometric modeling of hospitality asset returns that have cross and/or spatial dependence, in conjunction with applicable urban economics and finance theories. After successful completion of the course, the students are expected to develop significant competencies in the following areas: collection and management of hospitality asset data files; evaluation of historical risk and returns from hospitality assets; construction and optimization of hospitality asset portfolios; spatial econometric modeling; quantitative revenue management/pricing; and, forecasting and statistical inference.

Repeatability: This course may not be repeated for additional credits.

THM 5804. Winning Strategies for Hospitality Asset Portfolio Management. 3 Credit Hours.

This course seeks to develop the critical analytical skills of the senior hospitality executive so that they are able to make effective strategic decisions with respect to the hospitality asset portfolio. Participation in this course will enable students to develop their ability to articulate a strategic vision for managing the asset portfolio, including the effective development and execution of capital plans as well as the evaluation of such capital expenditures. Knowledge is acquired regarding asset portfolio development, specifically mergers and acquisitions, hold versus sell and refinancing decisions.

Repeatability: This course may not be repeated for additional credits.