Academic Program Review
Download 2.13 Mb.
|
| Academic Program Review
Cecil B. Day School of Hospitality Administration Robinson College of Business Georgia State University Table of Contents for Appendices Appendix Appendix A:
Hotel Real Estate Appendix B:
Data from Peer Hospitality Programs
structure; Faculty committee involvement; Organizational chart of School; Roster of Hospitality Industry Board
Table of Contents Page 2 Appendix C:
Update on progress toward goals delineated in strategic plan Appendix D:
hospitality’s Writing Intensive Course
Description of requirements for MBA degree
past three years, frequency with which courses are offered in the review period; number of sections; total number of students and average number of students per section
faculty
Appendix E:
scores and GPAs of applicants to graduate programs, all students offered admission and matriculating students for each of the past three years
and numbers of accepted students for the past three years
Majors
employers and positions Table of Contents Page 3 Appendix F:
of developing and approving this self-study Appendix G:
Generation
Appendix H:
Appendix A
Table A-1: School of Hospitality Budget, FY 2004 – FY 2006 FINANCIAL PROFILE School Name: Georgia State University Program Name: Cecil B. Day School of Hospitality Submitted to Accreditation Commission for Programs In Hospitality Administration Fiscal Year Ending: Fiscal Year Ended: Fiscal Year Ended: 2006 2005 2004 Actual Actual Actual General Fund: Full-time Faculty Salaries $ - 431,785.00 $ - 417,657.00 $ - 371,597.00 Extra Service Pay - FT Faculty 33,296.00 47,379.00 45,123.00 Part-Time Faculty Wages $ - 36,000.00 $ - 21,000.00 $ - 21,000.00 Administrative & Staff Salaries and Wages $ - 55,275.00 $ - 56,461.00 $ - 42,933.00 Subtotal - Salaries & Wages $ - 556,356.00 $ - 542,497.00 $ 480,653.00
Equipment $ - $ - 804.00 $ - 1,508.00 Total General Fund Budget/Actuals $ - 578,557.00 $ - 564,698.00 $ - 497,780.00 Other Program Support Auxiliary Services/Enterprise Fund Expenditures $ - 65,000.00 $ - 54,000.00 $ - 46,500.00 Grant Fund Expenditures $ - $ - $ - Gifts/Donations $ - $ - $ - Total Other Program Support $ - 643,557.00 $ - 618,698.00 $ - 544,280.00 Grand Total – Program Resources Used $ - 643,557.00 $ - 618,698.00 $ - 544,280.00 Notes: 1) Salaries and Wages should not include benefits 2) Contracted Services are services such as linen services, maintenance contracts, guest lecturers, contract labor, etc 3) Operating Expenses are expenses such as travel, professional development, repairs, printing, copying 4) Supplies and Materials are items such as food, utensils, instructional aids, books, booklets, subscriptions Appendix A Proposal for a Career Path in Hotel Real Estate – A Specialization in the MBA Program School of Hospitality and the Department of Real Estate Rationale: Acceptance of this proposal creates a new MBA Career Path in Hotel Real Estate. This Career Path will involve collaboration between the School of Hospitality and the Department of Real Estate. There are no business-based academic programs in this specialization in the Southeast yet Atlanta is a center for nationwide hotel development activities. From being the headquarters of the world’s largest hotel company, InterContinental Hotel Group, to serving as a frequent pilot location for new hotel products for major brands, Atlanta and Georgia State’s Robinson College of Business would be the ideal location to prepare professionals for this specialization. Philosophy: The program consists of existing courses with the addition of one new hospitality course, “Hotel Assets.” The Career Path will consist of six courses totaling 18 hours including three real estate courses and three hospitality courses. Essential Objectives: At the end of the Career Path in Hotel Real Estate, students will be able to:
The courses to be included in the Hotel Real Estate Career Track program: RE 8030 REAL ESTATE FINANCING 3.0 Real Estate Financing. Prerequisite: none. CSP: 1, 2, 6. This course examines the legal, economic, institutional, and strategic elements of the real estate financing process, including both residential and income property financing instruments and techniques. Macroeconomic considerations and financial market issues are investigated. Decision-making techniques and research methods using traditional and technical databases and resources such as the Internet are incorporated in the class format. RE 8050 REAL ESTATE DEVELOPMENT 3.0 Real Estate Development. Prerequisite: none. This course is a review of the real estate development process focusing on the physical/design dimension. It examines building economy through review of design, construction, and analysis procedures such as site suitability analysis, cost engineering, and life-cycle costing. The course considers the impact of technology and virtual economic arrangements on the form and design of physical structures and the function of changing technical and economic activities on space needs. Traditional and technical databases and resources are incorporated. RE 8060 APPL RE MARKET ANALYSIS 3.0 Applied Real Estate Market Analysis; Prerequisite: RE 8020 or RE 8030 CSP: 1, 2, 6, 7 This course examines the processes used to analyze the supply and demand for real estate. General methodologies for market studies are developed and then applied to the residential, retail and office sectors. The course also explores demographics, technological, economic, and social trends such as the aging population and growth of e-commerce that affect these real estate markets into the future. Techniques of spatial analysis, such as geographic information systems (GIS), are introduced. HADM 8400 Financial Management Applications in Hospitality Enterprises 3.0 Hospitality Financial Management Prerequisite: none; CSP: 1, 2, 6. This course presents an overview of finance issues pertaining to the planning and development of hospitality properties. Forms of ownership, tax considerations, financing procedures and costs of capital, capital courses, leases, franchising, valuation of hospitality properties, financial statement analysis, pricing methods, sales analysis and cash management strategies are covered. HADM 8700 Trends in the Lodging Industry 3.0 Lodging Industry Trends Prerequisite: none; CSP 1, 2, 6. The course provides an overview of the trends and issues in the lodging industry and examines the process of managing and developing lodging properties. The impact of technology, particularly the Internet and pricing structure for room rates, will be explored as well as current issues and trends in the key functional areas of a hotel’s operation. NEW COURSE - HADM 8800 - Hotel Assets 3.0 (Syllabus attached) Hotel Assets Prerequisite: RE 8030, RE 8050, HADM 8400, HADM 8700, CSP 1, 2, 6; The course includes important components involved in hotel real estate including in-depth coverage of what is included in hotel management contracts, comparative analyses of management contracts of different companies, a description of the negotiation process, franchisor-franchisee interactions and the factors involved in determining whether to buy, hold or sell hotel properties.
Email:
Office Hours: Course Time: TBD Class Location: TBD Course Description: This course, as part of the Hotel Real Estate Career Track specialization, will focus on the real estate property and physical assets of hotels. Management contract terms will be analyzed as well as current and predicted future trends and issues in hotel management contracts. The negotiation process will also be explored in depth including the pre-selection process, selection of brand/manager and actual rounds of negotiation. The resulting owner-manager relationship will be evaluated including franchise and chain affiliation programs. Students will have the opportunity to apply their knowledge in analyzing existing contracts representing varied ownership-management structures. This course will also discuss acquisition due diligence including evaluation of the lodging asset. The hotel investment decision components of buy, hold and sell will be analyzed along with planning and maintaining capital expenditures. Hotel investments in a global economy will be addressed. Essential Objectives: At the end of this course, students will be able to:
HADM 8800 Hotel Assets Page 2
At the end of this course, students will be able to:
HADM 8800 Hotel Assets Page 3
Text:
Supplemental readings will also be included as indicated in the agenda for the course. Assignments: Contract Analysis Project – Two components involving an analysis from the perspective of an owner group and from the perspective of a management company - Point value: 200 points Franchise Analysis Project - From a potential franchisee’s perspective, identify areas of concern, questions to clarify in the initial meeting with the franchisor, comparative analysis of different franchise agreements for same hotel segment – Point value - 100 points Case study involving the question of “Buy, Sell or Hold” - 100 points Mid-term - 100 points Final - 100 points Total points: 600 points HADM 8800 Hotel Assets Page 4
Grade Distribution Based on Total Possible Points of 600: 559 – 600 points: A 540 – 558 points: A- 539 - 522 points: B+ 521 – 504 points: B 503 - 480 points: B- 462 - 479 points: C+ 461 - 444 points: C 419 - 443 points: C- 360 - 418 points: D Below 360: F Plagiarism and Cheating: Plagiarism is the act of stealing and passing off as one’s own ideas or words of another. Cheating is a violation of the rules of honesty. A student who cheats or plagiarizes the works of others, purchases papers, or presents previous work as this semester’s assignment, faces disciplinary action. Plagiarism and cheating result in an “F” for the course, and may result in suspension or expulsion from the college. You must communicate accurately material that is directly quoted, paraphrased, or your own. If you are not exactly sure what constitutes plagiarism, ask . . . .because you are solely responsible for the understanding. Course Agenda: Session 1 Review of course syllabus What are hotel assets? State of the industry using PKF and Smith Travel data
Article: “Eight Rules for Competing in the Hotel Real Estate Markets” by John B. Corgel, Ph.D., Cornell University’s Center for
HADM 8800 Hotel Assets Page 5
Types of hotel ownership/management options; Industry examples Management contracts – The six critical provisions of management contracts Critical provision one: Contract duration Management company’s needs versus owner needs in preferences for contract duration; Review of sample contracts and discussion of current trends regarding duration;
Types of fees; Discussion of each type: Analysis of sample contracts Trends and issues with fees and fee structures Assignment: Several on-line contract samples will be provided to download; Review duration, fees/fee structure as well as operator financial contributions, performance clauses, termination provisions, budgetary and spending limitations Session 3 Management contracts continued Critical provision three: Operator financial contributions Management and owners’ views; Differences in independent, non-publicly-traded management companies and large, branded hotel companies Trends in this area; Comparative analysis of hotel contracts Critical provision four: Performance clauses Management company’s view as compared to owner’s view; Comparative analysis of performance clauses in a sample of current hotel contracts; Current trends and issues related to performance clauses Critical provision five: Termination clauses Management company’s view compared to owner’s view; Review of sample of hotel contracts the termination provisions included; Current trends and issues in termination clauses HADM 8800 Hotel Assets Page 6
Management company’s view compared to owner’s view; Issues and trends in this area;
Creating a competitive bidding environment through leveraging the owner’ position based on: property location, property profile, branded vs. third-party management and deal structure. Discussion of the four leveraging factors and how these can contribute to a competitive bidding environment Establishing the owner’s team: Identifying and retaining legal counsel; Factors to consider; Role of a hotel contract negotiation consultant
HADM 8800 Hotel Assets Page 7
The Operator Selection Process – Determining the proper brand match; Items to include in RFPs; Review of examples from assignment; Creation of a decision matrix for review of responses; Process involved in developing a short list of candidates; Solicitation of final and best offers; Selection stage Discussion of negotiation stages including the development of Bill of Rights; Identify possible “deal breakers”; Identification of back-up options Negotiation of legal management agreement
Presentations of major points in favor of owners/management companies Session 8: Project presentations; Guest panel including hotel owners and management company representatives to address questions Assignment for Session 9 - Chapters 7 & 8 Session 9: Discussion of characteristics/competencies necessary for a hotel general manager; Group assignments of franchise/affiliation agreements to review; Description of franchise and affiliation alternatives including standard franchise agreements; management contracts with branded operations; management contracts with unbranded operators coupled with franchise agreements; licensing agreements; strategic marketing alliances HADM 8800 Hotel Assets Page 8 Discussion of criteria to evaluate affiliation alternatives including: analyzing the business mix; assessing the potential benefits of affiliation; determining the costs of affiliation; evaluating the costs versus the benefits of affiliation; evaluating potential conflicts of interest Article: “The Role of Bran Affiliation in Hotel Market Value,” by John O’Neill and Qu Xiao, Cornell Quarterly, August 2006, 210 – 223. Session 10 : Group presentations of affiliation agreements, determination if benefits outweigh costs and why for specified hotel location, type and size of hotel Panel of franchisors and franchisees to address questions Assignment for Session 11: Review samples of resources provided - the STAR Report (Smith Travel Research) and PKF’s Trends Text – Chapter 9 Article: “Strategic Hotel Development and Positioning: The Effects of Revue Drivers on Profitability,” by John O’Neill and Anna Mattilla, Cornell Quarterly, May 2006, 146-154. “An Automated Valuation Model for Hotels.” J. O’Neill, Cornell Quarterly, August 2004, 260 – 268.
Revenue benchmarking using industry data sources Comparative analysis techniques; Hotel financial statement line items – Percentage of total sales/applicable department revenue (PER); dollars per available room (PAR); and dollars per occupied room (POR); Additional available metrics Assignment: Case study involving “Buy, Hold or Sell” to be completed individually and due on Session 14 HADM 8800 Hotel Assets Page 9
Text: Chapters 10, 11, 13 Additional readings: “Buying High and Selling Low in the Lodging Property Market” by John B. Corgel and Jan A. deRoos, Cornell Quarterly, October-December 2003, 69-75. “Buying High and Selling Low Revisited: The ‘Quiet Industry,’ Cornell Quarterly, Oct. – Dec. 2003, 76-80.
Concept of risk in investment analysis; Risk analysis techniques Assignment: Text – Chapter 4 Session 13 : Global hotel investments; Trends of investments in the U.S. and U.S. investments abroad; Discussion of major issues to evaluate in investing internationally including: Country’s legal system; currency risk; local business practices and conditions; tax and financial considerations; political stability, communication – along with cultural fit. Current issues in international hotel investments Review of The HotelBenchmark Survey by Deloitte which tracks trends worldwide across 140 countries and Ernst and Young’s Global Hospitality Insights Sessions 14 & 15: Discussion of case along with industry representatives present Session 16 - Final exam Directory: ~wwwapa -> sacs -> apr reviews -> archive archive -> Date Submitted Date Funded archive -> Gsu service/Education Center Review Survey sacs -> University police action plan (Immediate) Strategy sacs -> Senior Faculty Associate to the Provost One Park Place Download 2.13 Mb. Share with your friends:
|