LP - Hospitality Administration

This course focuses upon the financial aspects of a variety of operational areas such as lodging, food and beverage, and event management. Macro and micro operational areas will be examined using tools such as ratio analysis, financial statements and reports, and cash flow analysis. Use of the most current version of the Uniform System of Accounts applied to the lodging industry is included in the course. Analytical tools will be studied for ways to maximize a hospitality firm's return on investment. Financial analysis and how it varies among managers, investors, creditors, and owners is an objective of this course. Case studies will be used to help students learn how to make crucial management decisions based upon the allocation of finances.

This course is an advanced course in the study of quality and its relationship to customer service; the measurement of customer expectations, providing quality customer service, and researching and measuring customer satisfaction in an effort to improve management and organizational quality are studied. The concept of service and the linkages to the functional areas of marketing, operations, and human resources of an organization will be discussed as applied to a variety of settings. The development of a plan for improving the quality of customer service in an organization will be the culminating project for the course.

Students will learn how to develop the capacity to think strategically about an organization, its position in the hospitality industry and among competitors, and how to gain a sustainable competitive advantage. By utilizing the case analysis method, methods for strategic decision-making and action alternatives will be explored; also included is the development of comprehensive business strategies by identifying strategic options, policies, procedures, budgets and timelines. An understanding of the global marketplace and its impact on strategic analysis and planning in the hospitality industry are covered in this course. This course serves as the capstone learning experience for the degree program.