Hotel and Tourism Management
The hospitality business is a leading growth industry in Hong Kong, which is home to several major worldwide hotel chains. As a significant number of leading property companies in Hong Kong also have business ties with the hotel industry, research activities in the areas of hospitality, tourism, real estate and finance span a wide spectrum of topics. Hospitality-related research conducted by the School of Hotel and Tourism Management falls into four main areas:
1. Real Estate and Finance
Major issues examined include the development of property valuation theories, property acquisition and financing methods, the best use of property and the development of secondary property equity and debt markets. Specific research topics concentrate on price behavior and agency issues in Real Estate Investment Trusts, asset pricing theories, the market efficiency of the property markets and strategic development by developers. Future research will look at the unique features of the Hong Kong property market, the short-term stochastic movement of hotel-related revenue and other issues related to hospitality and property.
2. Marketing and Tourism
3. Human Resources Management
The hospitality and tourism industry is labor-intensive and involves the delivery of services that are often difficult to quantify. The quality of the service delivered by an organization hinges in part upon its employees, but one of the unique characteristics of hospitality organizations is that a significant portion occupies an entry-level positions and is relatively unskilled. This gives rise to a set of unique human resource issues for researchers. Topics investigated encompass most personnel and human resource management activities, including staffing, selection, performance appraisal and compensation. Special emphasis is placed on management training and development.
4. General Hospitality Management
Research conducted in this area emphasizes issues related to value creation in hospitality firms. The School aims to develop new paradigms and models to reflect the unique attributes of the service industry built on the body of knowledge developed from research into the manufacturing industry. Current areas of investigation include environmental analysis, strategy formulation and implementation, globalization, the roles and problems of CEOs and cross-cultural management.