Research Seminar

Seminar Coordinators: Prof. Wenxi JIANG and Prof. Yizhou XIAO


Tentative Structure and Courses (2018-2019)

Required Courses (Total 8 courses/ 24 credits) 


Course Title



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.



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.



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.



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.



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.



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.



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.



Big Data Strategy in China Market


The purpose of this course is to provide students with a deep understanding of current big data approaches and marketing applications in China. The topics include basic features of the China market, Chinese consumer evolution in the digital age, big data insights, Web search data and Internet marketing, social network and social media marketing, mobile marketing, customer relationship management (CRM) strategics, and behavioral economics. Methodologies and techniques, including text mining, Web crawling, logistic regression, and social network analysis, will be introduced and their business applications will be explained. This course aims to help students develop quantitative skills and abilities combined with innovative business ideas to create effective big-data marketing strategies in China.




Elective Courses (Any 2 courses/ 6 credits)



Course Title



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.



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.



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.



Land Conversion Process and Development Control


This course is designed to address two major topics: lease control and statutory control during land conversion and development processes. The course provides a foundation for understanding land development. Landowners and developers of all sizes typically aim to maximize profits, minimize risks and control cash flow. These objectives require landowners and developers to design optimal plans for local markets and meet local legal and administrative requirements and procedures. This course introduces Hong Kong’s land tenure system and development control and helps students understand the geographical characteristics of real estate properties in Hong Kong that have been developed into different uses over time. Students will also learn about the interplay between development processes and local conditions.





  • 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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