Facilitate the understanding of a specific business environment. Familiarise students with the historic development, the impact of the development and the specifics of applying basic management functions in the hospitality industry. Introduce students to the business philosophy of the hospitality industry. Point out different aspects of the correlation between a destination and hospitality. Point out the specifics of doing business in an international environment. Point out the differences between the examples of good and bad practice in the hospitality industry. Enable the understanding of types of hospitality products, the industry trends and types of operations as well as positioning on the market and market research. Introduce students to the process of selecting a location, concept development and product design as well as the framework for development, content programming, pre-investment studies, cost analysis and planning the development of a new hospitality product.
Expected learning outcomes
Having successfully completed the course, the students will be able to:
Explain the specific business environment of the hospitality industry and the philosophy of a successful hospitality venture in the international environment.
Explain the importance of hospitality for the development of a destination and forms of possible cooperation.
Describe the historical development of the hospitality industry regarding destination development and the importance of large hoteliers.
Show the characteristic application of basic management functions in the industry.
Interpret the consequences of hospitality development for a destination.
Present examples of good and bad practice in the hospitality industry.
Explain the types and kinds of hospitality products, the industry trends, ownership relations, and the ways of operating as well as identify the appropriate ways of market positioning and market research.
Present the process of selecting a location, concept development and product design with market acceptable characteristics.
Interpret the process of planning, defining a development strategy, product development and brand management.
Compare the results of pre-investment studies, content programming options and preliminary cost analyses.
Estimate the influence of technological, financial and legal framework on the development of a hospitality product and put forward a development plan for a new hospitality product.