HOSP8021 - Finance, Investment & Control

Module Details

Module Code: HOSP8021
Title: Finance, Investment & Control
Long Title: Finance, Investment & Control
NFQ Level: Advanced
Valid From: Semester 1 - 2023/24 ( September 2023 )
Duration: 1 Semester
Credits: 5
Field of Study: 8110 - Hospitality
Module Delivered in: no programmes
Module Description: This module develops the student's understanding of the practical financial, benchmarking and governance issues they will encounter in the hospitality sector.
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Describe and discuss the main issues for the hospitality sector in the micro and macro environment.
LO2 Interpret key reports, benchmarking tools and industry data utilised by the hospitality sector.
LO3 Appraise the key corporate governance tools used by a modern hospitality business.
LO4 Describe and discuss the importance of the key profitability measures used by the hospitality sector.
LO5 Identify the key hotel investment methods used by the hospitality sector.
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
Domestic and International Hotel Groups
The main hotel groups in the domestic and international hotel sector.
Micro and Macro Environmental Issues in Tourism & Hospitality
The micro environment, the macro environment, key tourism & hospitality terminology.
Report Interpretation and Benchmarking
Benchmarking, the Smith Travel Research (STR) Report, hotel industry surveys, sentiment surveys, hotel intelligence reports, competitor analysis, trend reporting.
Hotel Investment Methods and Hotel Property Evaluation
Income approach, cost approach, market approach. Credit assessment, key aspects.
Corporate Governance
Corporate governance in independent hotels and in PLCs.
Key Financial Measures
Earnings Before Interest, Tax, Depreciation, Amortization and Rent (EBITDAR), profitability, cost analysis.
Key Data in Tourism & Hospitality
Property data, competitive set data, industry data.
Budgeting in Tourism & Hospitality
Forecasting, KPIs in hospitality, incremental budgets, fixed and flexible budgets, operating budgets, capital expenditure budgets, rolling budgets, zero based budgeting.
Profit & Loss Interpretation
Interpretation of a profit & loss account for hospitality and taking action.
Working with Owners
Owner management, working for a group, asset managers, management companies.
Module Content & Assessment
Assessment Breakdown%
Coursework40.00%
End of Module Formal Examination60.00%

Assessments

Coursework
Assessment Type Written Report % of Total Mark 40
Timing Week 8 Learning Outcomes 1,2,4
Assessment Description
Write a report on the interpretation of a key sectoral report, benchmarking tool or sentiment survey.
End of Module Formal Examination
Assessment Type Formal Exam % of Total Mark 60
Timing End-of-Semester Learning Outcomes 1,3,4,5
Assessment Description
End of Semester Formal 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 Formal Lecture Every Week 4.00 4
Independent & Directed Learning (Non-contact) Non Contact Reading and Research Every Week 3.00 3
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 4.00
Workload: Part Time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Directed Learning Non Contact Formal Lecture Every Week 4.00 4
Independent & Directed Learning (Non-contact) Non Contact Reading and Research Every Week 3.00 3
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 0.00
 
Module Resources
Recommended Book Resources
  • Theresa Doherty and Carolyn Fredey. (2020), Hotel Revenue Management: Forecasting and Budgeting, 1st. Apple Academic Press, [ISBN: 9781003019923].
  • Michael C. Sturman (Ed.), Jack B. Corgel (Ed.) and Rohit Verma (Ed.). (2011), The Cornell School of Hotel Administration on Hospitality - Cutting Edge Thinking and Practice, Wiley, USA, [ISBN: 9781118016268].
Supplementary Book Resources
  • Ros O'Shea. (2016), Leading with Integrity - A Practical Guide to Business Ethics, Chartered Accountants Ireland, Dublin, [ISBN: 9781910374658].
Recommended Article/Paper Resources
Other Resources