Immerse yourself into the Hospitality and Tourism Industry, by taking on the fascinating task of Designing, Opening and Managing a Simulated Resort, while completing the most exciting industry practicum experiences.
Hotel Projection and Valuation
Students begin by going through an interview process, and then joining their Project Team. They occupy their respective positions during the first class interaction. Every team fulfills the required roles for every hotel area and department. They go through all the aspects involved in the early stages of Hotel Projection and Development, and prove their hotel business idea to be a profitable one.
In every early stage of a hotel's development, financing, valuations, risk and profitability analysis are among the most important aspects reviewed. This is when the actual hotel concept becomes a reality in terms of numbers. Funds are allocated and distributed through the various phases of the development project.
As a hotel brand, the different teams from Corporate Office, allocate the necessary resources to develop the different operation and service aspects in their respective areas. Budgets begin to be formulated.
+ Financial Feasibility Analysis
+ Market Research
+ Risk and Investment Analysis
+ Pre-Opening Budgeting
+ Valuation Schemes
+ NPV, IIR & ROI and Other Ratios
Students dive into Hotel Branding and Service Design, by using the hotel’s design provided by the architects, and the available funds previously approved.
They decide and develop the procedures and processes required, for those services to run as expected, once the hotel is opened. Students also decide on, and implement, various important elements by blueprinting the future operations in detail, and how they will take place.
Hotels are more than just a beautiful property strategically located, they are services and products all together. They are results of various attributes that define the hotel's identity and its brand, which allows it to differentiate itself from its competitors. These aspects must be carefully decided.
Some of those are intrinsic to the brand, and sometimes behave similarly throughout the different hotels within the chain. From the various Points of Sale, the quality of their services and its control procedures, procurement and resource allocation, to guest experience management and standard operating procedures, must be decided during the second phase of any hotel development.
+ Hotel Branding, Attributes and Identity
+ Service Areas and Departments, POS
+ SOPs, CAPEx & OPEx
+ Procurement, FF&E, OS&E
+ Guest Experience Management
Operations are a key element in any hotel, resort, cruise line, or airline to name a few. The team of students will develop the necessary operational processes and Standard Operation Procedures, for the different areas and departments within the resort, as well as how these will be deployed and monitored throughout the operation. They will also decide on staffing structures, Sales, Marketing and Revenue strategies, and all the required elements that will ensure the hotel’s operation to be successful.
Making sure that all the required processes and services take place in a hotel, in a profitable manner, and up to quality standards, is a key step within the development process. During a phase like this one, the brand would make sure that all the services within its new property are carefully blueprinted, assuring profitability and quality from production to deployment.
This is the time when corporate teams detect possible defects in the services deployment workflow, taking the necessary steps to avoid those from happening once the hotel is opened and running. Sales, Marketing and Revenue come into place, and so do staffing and HR policies. The operating budgets are the result of a right operations' blueprint and the right implementation of previous phases in the hotel development project.
+ Sales and Marketing Planing
+ Pricing and Revenue Management
+ Distribution Channel Allocation
+ KPIs and HR Policies
+ Staffing and Payroll
+ Operating Budgets