MPHM-710-01 Feasibility, Analytics, Valuation, and Business Intelligence for Hospitality Investments
Fall for 2017-2018
The hospitality industry abounds with new developments, transactions, and deals, all of which must be critically analyzed to fully understand each investment's feasibility and economic attractiveness. Accordingly, this course examines practical tools of investment analysis and valuation used by current market participants including owners, operators, and lenders to evaluate and analyze lodging investments. Students will develop an understanding of how to plan an investment or development; a procedure for determining the economic feasibility of the investment; and the critical valuation techniques required for acquiring and financing assets. The course evaluates the macro forces impacting feasibility and investment opportunities and focuses on the design of market and site analyses. Expertise is built around accurately forecasting occupancy, average rates, cash flows and real estate value based on a critical analysis of supply and demand to support investment and lending decisions. Students will learn how to build long-term cash flow models and perform analyses utilizing various commonly used valuation methodologies. With a focus on both new and existing hotels and the choice between franchise and management models, other topics include restaurant/F&B valuation techniques, lending and financing basics, and investment sales/brokerage.
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