University Master Degree in Innovative Hospitality Management

Transcription

1 University Master Degree in Innovative Hospitality Management Academic Year: Teaching guide Area: International Financial Management Subject: International Financial Management Period: Semester 2 Lecturers: Mr. Jan Ewoud Jansen Mr. Stanislaus Henricus Josephi Publication for the exclusive use of the School of Tourism and Hospitality Management Sant Ignasi (Ramon Llull University). Total or partial reproduction is prohibited.

2 MODULE: INTERNATIONAL HOSPITALITY MANAGEMENT AREA: INTERNATIONAL FINANCIAL MANAGEMENT SUBJECT: INTERNATIONAL FINANCIAL MANAGEMENT CODE: M037.IFM LANGUAGE: ENGLISH YEAR: 1 PERIOD: SEMESTER 2 CREDITS: 5 ECTS 1. Subject objectives The course addresses two main areas of interest: Revenue Management (RM) and Finance & Accounting (FA). Key principles of each area will be discussed. The aim is to understand how these principles can be used in the planning and decision making processes of businesses in the hospitality industry. 2. Competencies developed Basic B07 - Can apply their knowledge and understanding, and problem solving abilities in new or unfamiliar environments within broader (or multidisciplinary) contexts related to their field of study B08 - Have the ability to integrate knowledge and handle complexity, and formulate judgments with incomplete or limited information, but that include reflecting on social and ethical responsibilities linked to the application of their knowledge and judgments General G01 - Be able to find and manage information Transversales T05 - Commitment to ethical and social responsibility: being able to act in accordance with principles and ethical and social values. T06 - Problem solving: ability to identify problems and to design and implement appropriate solutions to them 1

3 Specific E09 - Global Vocation: be able to work in any international hospitality context E10 - Financial management: ability to design and implement plans that reduce the uncertainty of the economic environment 3. Content Week 0 Session 1: Revenue Management (RM) - Essentials of RM - The RM process - RM key performance indicators (KPIs) - Benchmarking methods - Future directions of RM. Session 2: Revenue Management (RM) - Big data and RM - Forecasting - Overbooking. Session 3: Revenue Management (RM) - Optimization - Connectivity - Total revenue management - Question and answers. Session 4: Financial Management (FM) - Financial Statements & Financial Planning - Ratio Analysis. Session 5: Financial Management (FM) - Capital Budgeting and investment decisions - Break even and marginal analysis. Session 6: Financial Management (FM) - Budgets and analysis of variances - Cost allocation methods. 4. Teaching methodology Readings. Practical Exercises. Self-study or Study Groups. 5. Assessment activities Regular examination call 2

4 Resit examination call Repeating students without attendance: regular examination call Repeating students without attendance: resit examination call Follow-up meetings Week 3 Week 7 3

5 Week Bibliography Mandatory readings Gabor Forgacs (2010): Revenue Management - Maximizing Revenue in Hospitality Organizations. Lansing, Michigan, American Hotel & Lodging Educational Institute Ewoud Jansen (2011): Accounting and Finance, A basic Introduction. A number of journal papers will be distributed at the beginning of the course. Recommended readings Hotel Yearbook 2015 Special Edition: Technology Lecturer/s Mr. Jan Ewoud Jansen - je.jansen@fontys.nl Ewoud Jansen received his education and masters' degree at Tilburg University, the Netherlands. He majored in Corporate Finance with a special interest in Mergers & Acquisitions. He is the author of Accounting & Finance; a Basic Introduction and also published on corporate governance and corporate social responsibility issues. He also writes frequently for several leading Dutch newspapers and is a regular commentator on Business News Radio. Today he is a senior member of the academic staff of the International Business and Management Studies program at Fontys University in Eindhoven. In this capacity he also gives guest lectures at partner universities in various countries. In addition he acts as a trainer and consultant in international programs and projects funded by organizations such as the EU, IMF and Worldbank. je.jansen@fontys.nl Mr. Stanislaus Henricus Josephi - josephi.s@nhtv.nl Stan Josephi is a full-time senior lecturer at the NHTV Breda University of Applied Sciences, where he is responsible for the Revenue Management program within the curriculum. Besides that, he has successfully obtained his Doctoral degree at the Maastricht School of Management, focusing on the essential features underlying the revenue management process. After completing his Hotel Management studies in Leeuwarden, he worked for numerous years in the international hotel industry in London, before switching to a consultancy role within revenue management. Within his position as researcher, he has published and presented articles on the challenges surrounding the education of revenue management, as well as the decision making process Dutch hotel operators use to make specific rates available. josephi.s@nhtv.nl 4

6 8. Observations 5