courseoutlinehb382fall2010 - HB 382 Hospitality Business...

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HB 382 Hospitality Business Real Estate Investment and Development Fall 2010 Faculty: A.J. Singh ( The School of Hospitality Business –MSU) Undergraduate Honor Code: Teaching Assistant: Ryan Rhoadarmer ([email protected]) Textbook: Instructor Materials and They Call him John Q: A Hotel Legend Class Hours: 3.00 p.m. to 4.20 p.m. Monday and Wednesday Classroom: 115 Eppley Center Pre requisites: HB 311 Course Description The course will focus on planning and investing in a hotel project. The course will begin by discussing the characteristics and features of investing in Commercial Real Estate. This will be followed by an understanding of the overall Lodging Industry, dynamics of investing in Lodging Real Estate as an asset class and the sequential process of planning and developing a hotel development project. Hotel project development is a multi-dimensional process that involves various professionals, such as the Project Developer, Market and Financial Analysts, Architects, Engineers and Contractors, Land planners, Lawyers, Franchisors, Management Companies, Interior designers, Brokers, Appraisers, Lenders and Investors. Development projects typically have five distinct phases. These include Conceptualization and Planning, Feasibility , Commitment, Design Layout and Construction and finally Management and Operation. Various professionals are involved at each of the phases from conceptualization to operation. A large part of the course will focus on the preparation of a Feasibility study and property valuation. This will involve an understanding of Market and Site selection, Site Analysis, Neighborhood and Market Area Analysis, Lodging Supply Analysis, Lodging Demand Analysis, Analysis of Market Share, Occupancy and Average Daily Rate, and preparation of a proforma income statement. Finally, the three methods of property valuation will be discussed and practiced in detail. This skill set will be very valuable both for students looking for an entry level position with a Real estate investment advisory firm, development company, hotel management firm, hotel transaction firm (hotel broker) or an asset manager. Throughout the semester you will also meet several industry speakers who will cover specialized topics in
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This note was uploaded on 09/10/2010 for the course IAH 001 taught by Professor Wang during the Spring '10 term at Michigan State University.

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courseoutlinehb382fall2010 - HB 382 Hospitality Business...

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