Real Estate Development and Financing—Master of Management in Hospitality

The Master of Management in Hospitality’s Real Estate Development and Financing concentration supplies students with the analytical framework needed to make sound operational and investment decisions within the growing and rapidly changing hospitality real estate field. In today’s increasingly global hospitality industry, no longer does a single in-house team oversee a hotel or resort property—nor are these properties just places to stay the night. Rather, customers expect comprehensive, personalized experiences from the moment they walk in, while third-party companies managing expansive hospitality and mixed-use portfolios have to justify all risks and rewards to their shareholders.

In preparing students for high-level property management and investment positions in the hospitality industry, the Master of Management in Hospitality (MMH) degree with a Real Estate Development and Financing concentration examines all in-house and third-party operations through the multifaceted lens of real estate transactions. Coursework exposes students to all the financial, analytical, and project development concepts needed to manage hospitality real estate assets and their operations. 

The Expanding Hospitality Real Estate Field

Decades ago, travelers on vacation or business considered hotels a stop on their journey, or the gateway to a destination that existed primarily outside the hotel’s doors. Restaurants were usually separate entities, and guests were typically left to their own devices when it came to where to eat and what to do. 

Today, a hotel may house multiple five-star restaurants, while guests expect more than a comfortable place to lay their head. Especially in large urban centers like Boston, resort-like amenities are increasingly the norm. Chains now exist on a global level, and leading property managers and investors may have assets on multiple continents in vastly different environments (with equally diverse customer bases).

In adjusting to investment, management, ownership, and trip-planning trends, hospitality real estate professionals have to think beyond the buildings and services offered. Acquiring and managing properties may additionally entail

  • repositioning an existing hotel or resort for a new market;
  • embracing new design and architectural practices in terms of appearance, sustainability, livability, and functionality;
  • thinking about risks and adjusted returns in relation to long-term capital investments;
  • reusing historic structures;
  • developing a unique guest experience; and
  • evaluating a property in relation to its destination and established hotel brand.

About the Real Estate Development and Financing Concentration

Factoring in the field’s increasing digitalization and globalization, the Real Estate Development and Financing concentration helps students hone their risk assessment skills regarding real estate investment and performance. With this end goal in mind, the program introduces students to multiple real estate-specific topics applicable to the hospitality industry and beyond.

  • Project Management: Coursework covers how a real estate project progresses from the development phase through a scheduled opening, including cycles, capital markets, asset management, return on investment (ROI) analysis, and ownership structures.
  • Financing Sources: Students learn to identify potential financing sources through real estate investment analysis, key tax considerations, capitalization theory, equity waterfalls, mortgage securitization, and portfolio strategy.
  • Financial Concepts: Coursework goes into the accounting and finance concepts involved in real estate transactions. Through theoretical and practical applications, students develop a solid group of analytical tools for identifying potential financial issues and analyzing GAAP prepared accounting, financial modeling techniques, and strategic views of real estate development and financing. 

Learn More About the MMH Degree—Real Estate Development and Financing Concentration

Do you see yourself planning or managing real estate projects involving hotels, resorts, and other hospitality properties? An MMH degree with a Real Estate Development and Financing concentration takes you through all aspects of the industry and equips you with the skills needed to succeed in a management-type role.

To learn more about the MMH program, please contact Micah Sieber, Senior Director of Academic Affairs; call us at 617-353-3261; or request additional information today.