Preequisite: RE 8030, RE 8050, HADM 8400, HADM 8700.
This course will focus on the real estate property and physical assets of hotels. Management contract terms will be analyzed as well as current and predicted future trends and issues in hotel management contracts. The negotiation process will also be explored in depth including the pre-selection process, selection of brand/manager and actual rounds of negotiation. The resulting owner-manager relationship will be evaluated including franchise and chain affiliation programs. Students will have the opportunity to apply their knowledge in analyzing existing contracts representing varied ownership-management structures. This course will also discuss acquisition due diligence including evaluation of the lodging asset. The hotel investment decision components of buy, hold and sell will be analyze.