Hospitality Management International Joint Master's Program with Thesis
HMAN513
UNIFORM OF ACCOUNTS FOR THE LODGING INDUSTRY
Course Code
HMAN513
Semester
First Term (Fall)
Theory+Practice
2 + 0
ECTS
2
Course Type
Compulsory Course
Course Level
Master's Degree With Thesis
Year of Study
1
Semester
First Term (Fall)
ECTS
2
Name of Lecturer(s)
-
Learning Outcomes
At the end of this course, the students;
Learn the fundamental principles of corporate finance and their applications specific to the hospitality industry.
Develop the ability to analyze financial metrics specific to the hospitality sector, such as revenue management, occupancy rates, and cost control.
Acquire skills to develop risk management strategies in areas such as currency exchange, interest rates, and economic risks.
Understand the impact of environmental, social, and governance (ESG) criteria on financial decision-making processes in the hospitality industry.
Mode of Delivery
Face to face
Prerequisites
No
Recommended Optional Programme Components
None
Course Description
This course aims to comprehensively address the financial management processes specific to the hospitality industry. Students will work on fundamental topics such as financial analysis, budgeting, revenue management, investment decisions, and risk management, learning to make strategic financial decisions tailored to the unique needs of the sector. Additionally, contemporary topics such as capital structure, funding sources, and sustainable financial practices will be examined in detail. The course is designed to enhance students' ability to develop effective financial solutions within the hospitality industry.
Course Contents
WEEK
TOPICS
1st Week
Introduction: The Hospitality Industry and Corporate Finance
2nd Week
Fundamentals of Financial Management
3rd Week
Financial Performance Measurement in the Hospitality Sector
4th Week
Revenue and Expense Management
5th Week
Working Capital Management
6th Week
Investment Evaluation and Decision-Making Process
7th Week
Financial Risk Management
8th Week
Midterm
9th Week
Borrowing and Capital Structure
10th Week
Budgeting in Hospitality Businesses
11th Week
Cost Management in the Hospitality Sector
12th Week
Financing Options for Renovation and Expansion Projects
13th Week
Sustainable Finance and ESG Practices
14th Week
General Evaluation and Discussion
Recommended or Required Reading
Hospitality Financial Management: A Practical Approach, Wiley, 2011 Agnes DeFranco, Thomas L. Geller
Finance for Hospitality and Tourism, Routledge, 2016, Pius Basher
Planned Learning Activities and Teaching Methods
Lecture
Discussion
Questions/Answers
Presentation
Assessment Methods and Criteria
Quantity
Percentage (%)
Mid-term
1
20
Assignment
1
10
Presentation of Article
1
10
Total(%)
40
Contribution of In-term Studies to Overall Grade(%)
40
Contribution of Final Examination to Overall Grade(%)
