Research Seminar

Seminar Coordinators: Prof. Wenxi JIANG and Prof. Zhenyu GAO

Curriculum

Tentative Structure and Courses (2017-2018)


Required Courses (Total 8 courses/ 24 credits) 

Code

Course Title

Unit

HTMG5001

Real Estate Finance

 

The turmoil in real estate market, which is one of the largest and most important components of the financial system, could bring a negative impact to the world financial markets. The participants in the real estate market should understand how to evaluate the risk and return concerning various ways of financing. This course exposes students to concepts, theories and industry practice in real estate finance. Topics related to real estate finance, including legal foundation of real estate finance, mortgage loans, secondary mortgage market, mortgage-backed securities and financial leverage, will be discussed. Different alternative real estate financing vehicles, such as real estate investment trust (REIT), will also be examined.

 

The primary goal of this course is to help students develop the conceptual knowledge and analytical skills of real estate finance, including those related to the institutions and instruments used to finance residential and commercial real estate. After taking this course, the students are expected to understand the importance of different financing methods and be able to make informed real estate finance decisions.

3

HTMG5002

Property Development and Investment

 

This course provides fundamental knowledge of and analytical tools for property development and investment. The course links space market and asset market in a dynamic real estate system and focuses on topics such as principles of commercial property investment analysis, cash flow analysis, real estate project investment analysis, etc. We will also discuss issues related to development project investment analysis, including definition and measurement of risk and return, valuation of land and multiple-phase development projects based on real option theory, financial modelling for real estate investment, feasibility studies, financial evaluation procedure based on net present value (NPV), and estimation of operational leverage and opportunity capital cost (OCC) for development investment. Various global case studies will be used to guide theoretical learning and class discussion.

3

HTMG5005

Chain Development and Management

 

The course is designed to introduce students to the organization, administration, concepts and theories in chain management in the hospitality industry as well as the evaluation of existing and challenging practices. The students will learn the growth and development of major hospitality chains and to analyze their strategies and tactics at different levels and markets. Topics include overview of chain operations in the hospitality industry, fundamental theories and principles of chain management, corporate entrepreneurship, competitive strategies of hospitality chains and brands at different stages of corporate life cycle, perspectives of owners, developers and lenders as well as management contract, franchising, joint venture and strategic alliance.

3

HTMG5006

Managerial Communication

 

Managers and employees in an organization need to communicate with each other to share information so that they can work toward a common goal. Without clear communication, there is no shared understanding among the employees, which will cause the ambiguity of tasks needed to be completed. A successful manager can express his views effectively to his colleagues. This course aims to develop students in becoming a competent, confident, and versatile communicator who can use concise language in modern business environments. Topics include foundations and principles of managerial communication, media types and a variety of communication channels, message formats, as well as researching and writing business reports. Students will also be trained to deliver effectively oral presentations.

3

HTMG5007

Strategy and Competitive Advantage

 

The course is designed to offer students with an integrative framework for planning and executing corporate-, business- and function-level strategies that help hospitality and tourism companies achieve sustainable competitive advantage. It introduces a wide variety of contemporary strategic analysis tools. Topics includes strategic decisions as formulating competitive strategies, diversification, internal resources / capabilities, external environments assessment, stakeholder relationships, strategic alliances, organizational structure and control mechanisms in hospitality and tourism industries. Critical issues related to ethical decision making and corporate social responsibilities will also be addressed.

3

HTMG5017

Real Estate Valuation

 

This course introduces concept and application of valuation of real estate.  Important concepts and techniques of real estate valuation will be covered to demonstrate how these can be applied to a range of property types or for a range of purposes.  Topics related to real estate valuation will be covered including the economic forces driving the real estate value in the market, the needs for valuation, valuation methods and their application, investment appraisal and development appraisal. After taking this course, the students are expected to have in-depth understanding of the concept and technique of valuation and demonstrate practical competence in undertaking different type of real estate valuation.

3

HTMG5018

Facilities Development and Management

 

Facilities management is the total management of all services that support the core business of an organization. It is a process of providing and coordinating effective and efficient services that can be applied holistically to enhance the performance of an organization. Good facilities management does not only benefit an organization, but also its stakeholders such as, among others, staff, clients, and tenants. Strategic facilities development and management emphasizes providing safe, healthy, reliable and productive work environment in a strategic manner to ensure the core business to achieve organizational objectives. 

 

This course is designed with a focus on Hong Kong's real estate market. As Hong Kong has an increasing demand for both facilities management and property management professionals, many facilities managers become involved with property management issues or are responsible for managing an organization’s property portfolio. Thus, this course will introduce real estate knowledge, business analysis skills and special techniques on both facilities management and property management professionalism.

 

The course aims to ensure students to 1) understand the role of strategic facilities management in the real estate life cycle; 2) to develop critical thinking about all facets of facilities management services; 3) master the knowledge of operational level management, including real estate leasing, liabilities and legal issues, maintenance, landlord and tenant relationships, service charges, etc.

3

HTMG5019

Executive Speaker Series and Industry Consulting Studies

 

This course aims to provide an immersive experience for students to integrate theory and practice. The course consists of two parts. Part I is designed as a series of executive speeches. Industry leaders in the hospitality, tourism and real estate sectors in Asia are invited to participate and speak on the investment and development strategies of their companies and the existing and emerging trends, challenges, and opportunities facing their industries. Students are required to research and study the company and the industry prior to engaging the speaker. The executive speaker series provides the students with opportunities to learn leading companies’ current strategies and best practices, and gain strategic insights through interacting with the industry leaders. Part II consists of consulting projects conducted by students. Project objectives and contents will be designed by the participating company(ies) and the course instructor(s) collaboratively. The projects will be centered on conducting a strategic diagnosis for the participating company and proposing solutions/actions to improve the company’s competitiveness and performance. In addition to the emphasis on companies’ operational and financial success, special attention will be placed on the sustainability and integrity issues that are important for companies competing in the hospitality, tourism and real estate industries in Asia. Students learn to apply up-to-date theories and analytical tools and are encouraged to come up with innovative solutions for the participating companies.

3

  

Elective Courses (Any 2 courses/ 6 credits)  

Code

Course Title

Unit

HTMG5014

Revenue Management

 

This course helps students learn how to apply the principles of revenue management effectively as they apply to the hospitality industry by following the concept of allocating the right type of capacity to the right kind of customer at the right price so as to maximize revenue. Focus is placed on the integration of revenue management techniques with information technology, internal management issues, and external marketing concerns. Topics include theories on revenue management, forecasting, overbooking, group decisions, and management and marketing issues. Students will be exposed to how hospitality organizations use revenue management technique to determine their pricing strategy to maximize their revenue.

3

HTMG5021

Shopping Mall Development and Management

 

Shopping mall is a dynamic business and has been one of the important assets in the investment portfolio.  Unlike other real estate assets focusing only on the rental income paid by the tenants, the shopping mall predominantly concerns about the business of the tenants and how to increase their revenue.  The shopping mall business thus requires thorough management to attract more customers and to increase the traffic flow.  Despite the significance of site selection and financial feasibility, other important factors determining the success of a shopping mall include tenant mix, marketing and promotion, operation and maintenance, as well as asset enhancement.  This course introduces theoretical knowledge and concept affecting the development and management of the shopping mall.    After taking this course, students should have a good understanding of the shopping mall business and allow them to work in the shopping mall development and management field.

3

HTMG5022

Revitalisation of Historic Buildings

 

Historic buildings bear witness to the development of a city and they are valuable and unique assets of urban community. In recent years, people have grown increasingly aware of the issue of the demolition and redevelopment of historic buildings. New generations are shouldering the responsibilities of inheriting and maintaining the culture of the city in a sustainable manner. This course focuses on historic buildings and sites in relations to their settings and aims to introduce the revitalisation theories, revitalisation policies and revitalisation process. Case studies are used to illustrate revitalisation projects in Hong Kong, Mainland China, Macau and Singapore.

3

 

Notes

  • The sequence of core and elective courses may be changed if necessary.
  • Availability of electives depends on the offerings of each academic year, and is subject to change in different trimesters.

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