The Minor in Hospitality Business Real Estate Investment Management prepares students for careers focused on hospitality real estate, including acquisition, appraisal, asset management, brokerage, consulting, development, investment analysis, market analysis and mortgage lending.
The minor may especially benefit students majoring in accounting, construction management, economics, finance, hospitality business, human resource management, interior design, landscape architecture, management, marketing, supply chain management, and urban and regional planning.
The minor, which is administered by The School of Hospitality Business, is available as an elective to students who are enrolled in bachelor’s programs at Michigan State University. With the approval of the department or school and college that administers the student’s degree program, courses that are used to satisfy the requirements for the minor may also be used to satisfy the requirements for the bachelor’s degree program. In certain cases, prerequisites for minor requirements may be waived with advance approval. The student’s program of study must be approved by the director of the Minor in Hospitality Business Real Estate Investment Management.
Admission Criteria
Students seeking admission must schedule an appointment with Jeff Yingling, assistant director of undergraduate academic programs in The School of Hospitality Business, and complete an application for admission.
Those seeking admission must meet the criteria below:
- Completion of 56 credits.
- Completion of the following core courses:
- ACC 201 (3) or ACC 230 (3)
- EC 201 (3)
- STT 200 (3) or STT 201 (4) or STT 315 (3)
- General Admission Standards:
- MSU Cumulative GPA = 3.50
- MSU Core GPA = 3.25
Admission is based primarily on MSU cumulative GPA and MSU core GPA. Academic and non-academic factors and experiences will also be considered. The application requires a statement of professional goals as well as documented work experience and extracurricular activities.
Apply to Minor
Complete the application for admission to the Minor in Hospitality Business Real Estate Investment Management today.
Minor in Hospitality Business Real Estate Investment Management Requirements
Students must complete the requirements specified below (25 credits).
All of the following courses (21 credits)
- EC 202 Introduction to Macroeconomics
3 CREDITS
Determinants of Gross National Product, unemployment, inflation and economic growth. National income accounting and fiscal policy. Aggregate demand, supply management and monetary policy.
View full course description at the Office of the Registrar.
- HB 311 Hospitality Finance
3 credits
Optimal management of a hospitality firm’s assets and financing requirements. Analysis of financial statements, financial markets, risk, valuation, and short-term and long-term financing and investment.
View full course description at the Office of the Registrar.
- HB 375 Hospitality Marketing
3 CREDITS
Marketing of hospitality products and services in an increasingly competitive, global, and culturally diverse market.
View full course description at the Office of the Registrar.
- HB 382 Hospitality Business Real Estate Investment Management
3 credits
Process of planning and developing a commercial real estate project: conceptualization and planning, feasibility, commitment, design layout and construction, management and operation.
View full course description at the Office of the Registrar.
- HB 437 Hospitality Business Analytics
3 CREDITS
Exposure to key management and marketing issues relating to the effective implementation of revenue management. The relationships between the revenue management function and other functions or departments in the hospitality organization. The role and job responsibilities of a revenue manager. The identification of distribution channels that hospitality organizations may use to distribute their inventory.
View full course description at the Office of the Registrar.
- HB 473 Hospitality Business Analytics
3 credits
Quantitative and analytical skills used to communicate key business information effectively. Study of how business modeling and data analytics can increase decision making efficacy. Course topics include but are not limited to sensitivity and scenario analysis, financial modeling and forecasting, and applied business statistics methods.
View full course description at the Office of the Registrar.
- HB 482 Advanced Hospitality Finance
3 credits
Cash flow determination and management. Strategies for financing hospitality ventures and expansion. Determining financial viability of proposed and existing operations.
View full course description at the Office of the Registrar.
- Finance 311 or Finance 320 may be used to substitute for HB 311
Fi 311
3 CREDITS
Overview of financial management for business majors. Analysis of financial statements, markets, and assets. Risk and valuation, corporate budgeting and investment decisions. International and ethical implications. Current events applications.
View full course description at the Office of the Registrar.
Fi 320
3 CREDITS
Overview of finance for the non-business major. Stocks, bonds, mutual funds, financial statement analysis, capital budgeting, financial planning.
View full course description at the Office of the Registrar.
- Marketing 300 or Marketing 327 may be used to substitute for HB 375
MKT 300
3 CREDITS
Analysis and strategic integration of buyer behavior, segmentation, positioning, demand analysis, information, pricing, promotion, channels, product policies, and ethics in consumer, reseller, industrial, and service markets.
View full course description at the Office of the Registrar.
MKT 327
3 CREDITS
Buyer behavior, segmentation, positioning, demand analysis, information, pricing, promotion, channels, product policies, and ethics in consumer, reseller, industrial, and service markets.
View full course description at the Office of the Registrar.
Four credits from the following course (4 credits)
- HB 492 Hospitality Business Real Estate Professional Skills Workshop 1 to 4
1-6 credits (variable)
Specific knowledge and analytical skills necessary to be successful in an analyst role with a consulting, real estate development or investment advisory organization. Workshop topics include but are not limited to hospitality real estate investment, market valuation, Excel modeling, business writing, financing hospitality enterprises, asset management and hotel industry data analytics.
View full course description at the Office of the Registrar.
Student Organizations
The Real Estate Investment Club is for all students who have a common interest in real estate development, particularly within the hospitality industry. The club creates unique opportunities for students including listening to significant guest speakers, participating in various site tours, and keeping in touch with alumni and other industry professionals.
Learn MoreThe mission of the Hospitality Association is to create and refine hospitality business leaders by providing forums for academic growth, industry experience, leadership roles and career-enhancing opportunities, and by encouraging social interaction and the development of student unity within The School of Hospitality Business.
Learn MoreReal Estate Investment Management Advisory Council
In 2007, The School of Hospitality Business established the Real Estate Investment Management Advisory Council. This group is in place to review and support the real estate interests of The School. Council members are by appointment only and meet annually (each spring).
Previous Council Meetings
- April 2018
Hospitality Business Real Estate Education: Past-Present-Future (panel presentation) included:
- Dr. Barry Bloom: President and Chief Operating Officer, Xenia Hotels & Resorts
- Dr. Jack Corgel: Professor, Real Estate, Cornell University
- Dr. John W. O’Neill: Professor and Director, Center for Hospitality Real Estate Strategy, Pennsylvania State University
- Dr. A.J. Singh: Professor, Hilton Hotels Fellow, The School of Hospitality Business, Michigan State University
- Mr. Ed Watkins: Group Moderator & Manager, Hotel Revenue Strategy Leaders
The meeting also featured a powerful presentation on “The Impact of Labor Unions on the Hospitality Industry” by Mr. Peter G. Fischer, Partner, BakerHostetler.
An afternoon session featuring the ever-popular “Roundtable Discussion: Lodging Industry Trends” was led and moderated by Mr. Ed Watkins. Nearly forty Real Estate Investment Management Advisory Council members attended.
- April 2017
Dr. Tomas Hult, director of MSU’s International Business Center, and Dr. Norm Graham, director of MSU’s Center for European, Russian and Eurasian Studies, discussed “New Administration: Impact on Foreign Policy and Global Business” with forty Real Estate Investment Management Advisory Council members.
“A New Administration: A New Era for the Lodging Industry” was led by HotelNewsNow Ed Watkins as moderator with all council members in attendance through a round table discussion.
- April 2016
Topic: “The Hotel Consolidation Wave: What It Means to You,” featuring Ed Watkins as moderator
Panelists:
- Mark Johnson, Professor of Practice, Finance, Eli Broad Graduate School of Management, Michigan State University
- John M. Keeling (MBA ’74), Executive Vice President, Valencia Group
- Fred Kleisner (B.A. ’66), Independent Director, Caesars Entertainment and Independent Member, Board of Managers, Aimbridge Hospitality
- Ryan Meliker (MBA ’05), Managing Director, Equity Research REITs and Lodging, Canaccord Genuity, Inc.
- Chuck Pinkowski, Owner, Pinkowski & Company.
- April 2015
Topic: New Brand Development panel discussion featuring Stephanie Ricca (HotelNewsNow.com) as moderator
Panelists: Jim Anhut (IHG), Andrew Alexander (Red Roof Inn), Christopher Burdette (Best Western International), Gary Steffen (Hilton Corporation) and Ronald Stewart (Marriott International).
Industry Speaker: Stephanie Ricca, HotelNewsNow.com
- April 2014
Topic: “How to Stay On Top” interactive session moderated by Ed Watkins, as well as panel presentation, “Threats and Opportunities in Detroit”
Industry Speaker: Ed Watkins, HotelNewsNow.com
- April 2013
Topic: Real Estate and Development Specialization Reorganization, new name “Real Estate Investment Management”
Industry Speaker: Ed Watkins, HotelNewsNow.com, “Managing Change in an Uncertain Economic Environment”
- March 2012
Topic: Institute Directions
Industry Speaker: Ed Watkins, Lodging Hospitality
- March 2011
Topic: Launching the Real Estate Development Institute
Industry Speaker: Ed Watkins, Lodging Hospitality
- March 2010
Topic: Round table discussion reviewing The School’s Real Estate & Development Specialization program
Industry Speaker: Ed Watkins, Lodging Hospitality
- April 2009
Focus: Strategic Planning for the Real Estate & Development Program
- April 2008
Focus: Evaluation of Hospitality Business Real Estate & Development Specialization
- September 2007
Focus: Inaugural meeting to discuss real estate & development advisory specialization program.
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- Business College Complex
- 632 Bogue St
- East Lansing, MI 48824