This minor will suit students who want to expand their horizons beyond just the hospitality operations part. We explore hotels as both a real estate investment and as a revenue-generating business, and study how companies cooperate to create value.

Why choose this minor?

• You want to expand your expertise beyond hospitality operations.
• You are interested in hotels as a real estate investments and revenue-generating businesses.
• You want to discover industry players collaborate to create value.
• You want to develop strategic, ‘behind the scenes’ insights that distinguish you from other graduates.

You will learn how hotels create demand and sell the right product to the right customer at the right time, through the right distribution channels, for the right price. We will explore how different stakeholders - including OTAs like Booking.com and Expedia, and brands like Marriott - collaborate and share proceeds. We discuss a variety of operating and branding structures and contracts (for example franchising). The minor has a strong online marketing flavour. Many of our guest speakers represent companies that help hoteliers understand travelers’ booking journeys, demand levels, competitor pricing, and much more.

Students will learn about the key relationships between hotel owners, operators, managers and brands. This provides the foundation for a more advanced understanding of how demand management can add value to hotel operations for all stakeholders.

It is important to note that this is not an operational minor. You will not learn how to be more hospitable or use storytelling to increase wine sales in the restaurant. Instead, you will learn a great deal about the structure of the hotel industry and the commercial side of the business. The programme emphasises practical application through real-world examples and case studies.

• Candidates should have a solid grounding in (international) business and management, and a genuine interest in the subject matter of the minor. We urge all students to thoroughly review this information sheet and attend the information session, to ensure that the programme aligns with your interests and goals.
• To successfully complete the minor, students are advised not to accumulate too many resits during the semester.
• Propaedeutic certificate obtained

Compulsory: Musgrove, R., Raleigh, L. and Singh, A., eds. (2016). Hotel Asset Management: Principles & Practices, 3rd edition. Lansing, Michigan: American Hotel & Lodging Educational Institute.

Additional reading provided on a weekly basis for both topics.

Mixed format.
Each week, students will receive assignments or cases to be completed by Friday. All of these are formative, with feedback provided but no grades given. The structure of this minor requires active student participation, with strong industry involvement through guest lectures and excursions.
Every Monday, students are given literature to study before the start of the week (flipped classroom approach). This is usually a combination of academic/scholarly and professional/industry publications. Classroom time is scheduled for Tuesdays, Wednesdays and Fridays. Students should also plan to dedicate time to coursework on Mondays and Thursdays.
After validation, the number of lectures decreases, and students mainly work on their projects.

Assessment
Industry Certification (either CHIA or CHRMA)
Multiple choice, online
Individual
2 credits

Validation
Written exam + interview
Individual
10 credits

New Hotel project
Presentation
Group
8 credits

Capstone project
Presentation
Group
10 credits

Language of instruction
English

Topics and Structure of the minor
Asset Management:
• Hotel ownership, operating and branding structures: leases, management and franchise agreements
• Hotel feasibility, valuation, and the hotel asset management cycle

Demand Management:
• Developments in the field of Revenue Management and optimisation
• Demand management, focusing on the role of human capital, systems, and organisational issues
• Online marketing in a hospitality context - the digital guest journey
• (The role of) data in an online marketing environment
• AssetSIM simulation game - applying demand management principles in a competitive environment

Alternating Asset Management and Demand Management weeks.
In November, theoretical knowledge is tested on ‘Validation Day’, with a written and an interview component.
Following Validation, students work on two industry projects with actual hotel groups!

Additional costs
Students may have to pay for travel expenses incurred during field trips.