MPHM-700-01 Hospitality Financial Management
Spring for 2017-2018
As an initial course in the Asset Management concentration, this financially intensive course is for those students interested in a deep investigation of the business of hospitality finance. Designed to teach financial management and value creation from the hospitality management and ownership perspective, participants will become strategic level analysts capable of advanced financial decision-making with development and managerial-focused hospitality executives.
In this course, students will explore the role and goals of financial management in the hospitality organization and the concept of value creation. Students will apply financial statement ratio analysis and how to maximize the enterprise’s net working capital position. The student will learn about business and finance risk, the importance of portfolio diversification and how to hedge risk. They will differentiate and apply concepts of time value of money, compounding and discounting on single and multiple cash flow streams, value debt, equity, and hybrid sources of capital and learn to determine a firm’s weighted cost of capital. The class will analyze and evaluate cash flow estimation / forecasting principals, and utilize those skills in capital budgeting and project valuation methods. Students ultimately develop a decision-making framework, investigating the nature of capital markets, developing appropriate capital structures and demonstrating how to raise capital. Furthermore, the course will review advanced topics in leasing and tax avoidance policies, and the execution of growth strategies through franchising, management contracts, and unit development feasibilities and valuations.
Prerequisite: MPHM 520: Managerial Accounting + Finance: Analysis and Decision-Making for Hospitality Operations.
Prerequisites: MPHM 520: Managerial Accounting and Finance: Analysis and Decision-Making for Hospitality Operations
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