TOUR8011 - Hotel Asset Management

Module Details

Module Code: TOUR8011
Title: Hotel Asset Management
Long Title: Hotel Asset Management
NFQ Level: Advanced
Valid From: Semester 1 - 2023/24 ( September 2023 )
Duration: 1 Semester
Credits: 5
Field of Study: 8120 - Tourism
Module Delivered in: 1 programme(s)
Module Description: This module provides an overview of the operation models of hotels and provides an overview of investment in the hospitality sector. Students will develop an appreciation of the business environment and difficulties faced by the hotel sector.
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Explain the main issues in the business environment affecting the hospitality industry.
LO2 Discuss agency theory, the ethical and Corporate Social Responsibility (CSR) issues confronting managers in the hotel environment.
LO3 Evaluate the main methods of hotel operation and discuss the areas of examinership, receivership and liquidation as they apply to the hospitality sector.
LO4 Describe the concept of the time value of money and use this principle and other investment appraisal techniques to evaluate various investment options.
LO5 Evaluate and negotiate maintenance and other contracts and make recommendations to management on the optimal course of action based on both financial and non-financial considerations.
LO6 Apply budgeting knowledge to the hotel environment.
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named MTU module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module. You may not earn additional credit for the same learning and therefore you may not enrol in this module if you have successfully completed any modules in the incompatible list.
No incompatible modules listed
Co-requisite Modules
No Co-requisite modules listed
Requirements

This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed. You may not enrol on this module if you have not acquired the learning specified in this section.
No requirements listed
 
Indicative Content
Current Issues affecting the Hotel Industry
Current issues in both the micro and macro environments affecting the hotel industry either positively or negatively, domestic and international management companies.
Agency Theory, Governance, Ethics and CSR
Agency theory, corporate governance, ethical Issues, CSR, bonus and remuneration.
Hotel Operation Methods
Branding and soft branding, franchising, outsourcing, management agreements.
Financial Difficulties for Hotels
Going concern, examinership, receivership, liquidation.
Buying a Hotel
Factors to consider in advance, valuation, sources of finance, overview of investment appraisal techniques.
Budgeting
Capital budgeting, property improvement plans, capital allowances.
Evaluation of contracts
Lease or buy decisions, maintenance contracts, negotiation skills.
Hotel Performance and Investment
Overview of relevant recent reports considering hotel investment.
Module Content & Assessment
Assessment Breakdown%
Coursework40.00%
End of Module Formal Examination60.00%

Assessments

Coursework
Assessment Type Essay % of Total Mark 20
Timing Week 4 Learning Outcomes 1,2,3
Assessment Description
Current issues affecting the hospitality industry (2,000 words)
Assessment Type Written Report % of Total Mark 20
Timing Week 9 Learning Outcomes 1,3
Assessment Description
Compile a written report which examines the operational structures of the hospitality industry in Ireland, addressing areas such as branded properties, franchises, management contracts and owner operated properties (2,000 words).
End of Module Formal Examination
Assessment Type Formal Exam % of Total Mark 60
Timing End-of-Semester Learning Outcomes 1,2,3,4,5,6
Assessment Description
End-of-Semester Final Examination
Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

The University reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Theory Every Week 3.00 3
Independent & Directed Learning (Non-contact) Non Contact Independent Study Every Week 4.00 4
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 3.00
Workload: Part Time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Theory Every Week 3.00 3
Independent & Directed Learning (Non-contact) Non Contact Independent Study Every Week 4.00 4
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 3.00
 
Module Resources
Recommended Book Resources
  • Fevzi Okumus, Levent Altinay, Prakash Chathoth,. (2020), Strategic Management for Hospitality and Tourism, 2nd. Routhledge, Great Britain, [ISBN: 9781351188517].
Supplementary Book Resources
  • Musgrove, R. et. al.. (2016), Hotel Asset Management Principles and Practices, 3rd. Educational Institute of the AHLEI, [ISBN: 0866125078].
  • David Issac, Mark Daley and Nigel Enever. (2009), The Valuation of Property Investments, 7th Edition. EG Books, [ISBN: 0 7282 0249 2].
  • Peter Jones and Andrew Lockwood. (2004), The Management of Hotel Operations, Cengage Learning, London, [ISBN: 978-0-82646-2].
Supplementary Article/Paper Resources
Other Resources
 
Module Delivered in
Programme Code Programme Semester Delivery
CR_OHMGT_8 Bachelor of Business (Honours) in Hospitality Management 8 Elective