General Information - HMG6429 - Hospitality Asset Management

Professor Information

Instructor Profile Picture

Instructor

Barry A.N. Bloom, Ph.D.

E-mail

bbloom@fiu.edu

Office Hours

E-Mail Only

Course Description

This course emphasizes entrepreneurship in the hospitality industry by focusing on the functions associated with managing the asset, whether undertaken by an owner directly or by a third-party asset manager.  This course focuses on the role of the asset manager in acquiring, overseeing, and disposing of the hospitality asset with the intent of maximizing value and meeting the goals and objectives set for the property.   This course also has a special focus on Negotiation via an in-class negotiation exercise.  

Learning Outcomes

At the conclusion of this course, students will be able to:

•    Understand ownership’s decision-making processes based on the role of the asset manager as the owner’s representative. 

•    Understand the role of asset managers and their fiduciary responsibility and the basic concepts of asset management and investment decisions to meet the specific objectives of ownership.

•    To acquaint the student with ownership's decision-making using the example of the asset manager as the owner's representative. 

•    Understand and utilize basic principles of negotiation. 

Important Information

Policies

Please review the FIU's Policies webpage. The policies webpage contains essential information regarding guidelines relevant to all courses at FIU, as well as additional information about acceptable netiquette for online courses. For additional information, please visit FIU's Policy and Procedure Library.

As a member of the FIU community you are expected to be knowledgeable about the behavioral expectations set forth in the FIU Student Conduct and Honor Code.

Technical Requirements and Skills

One of the greatest barriers to taking an online course is a lack of basic computer literacy. By computer literacy, we mean being able to manage and organize computer files efficiently and learning to use your computer's operating system and software quickly and easily. Keep in mind that this is not a computer literacy course, but students enrolled in online courses are expected to have moderate proficiency using a computer. Please go to the What's Required webpage to find out more information on this subject.

Privacy Policy Statements for Partners and Vendors

Please visit our Technical Requirements webpage for additional information.

Substantial portions of this course will be conducted online.  This course will use the Canvas e-learning system. 

The Professor will be available via e-mail and will make every effort to respond to e-mails within 48 hours, but this is not guaranteed.  Please consider this when planning your coursework and asking any questions of the Professor.  

Accessibility and Accommodation

The Disability Resource Center collaborates with students, faculty, staff, and community members to create diverse learning environments that are usable, equitable, inclusive, and sustainable. The DRC provides FIU students with disabilities the necessary support to successfully complete their education and participate in activities available to all students. If you have a diagnosed disability and plan to utilize academic accommodations, please contact the Center at 305-348-3532 or visit them at the Graham Center GC 190.

For additional assistance please contact FIU's Disability Resource Center.

Web Accessibility Statements for Partners and Vendors 

Please visit our ADA Compliance webpage for additional information about accessibility involving the tools used in this course.

Academic Misconduct Statement

Florida International University is a community dedicated to generating and imparting knowledge through excellent teaching and research, the rigorous and respectful exchange of ideas, and community service. All students should respect the right of others to have an equitable opportunity to learn and honestly demonstrate the quality of their learning. Therefore, all students are expected to adhere to a standard of academic conduct, which demonstrates respect for themselves, their fellow students, and the educational mission of the University. All students are deemed by the University to understand that if they are found responsible for academic misconduct, they will be subject to the Academic Misconduct procedures and sanctions, as outlined in the Student Conduct and Honor Code. Academic Misconduct includes:

 Cheating

  • The unauthorized use of any materials, information, study aids or assistance from another person on any academic assignment or exercise, unless explicitly authorized by the course Instructor; 
  • Assisting another student in the unauthorized use of any materials, information, study aids, unless explicitly authorized by the Instructor; and 
  • Having a substitute complete any academic assignment or completing an academic assignment for someone else, either paid or unpaid; and

Plagiarism

  • The deliberate use and appropriation of another are work without any indication of the source and the representation of such work as the Student's own.
  • Assisting another student in the deliberate use and appropriation of another’s work without any indication of the source and the representation of such work as the student’s own. 

Learn more about the academic integrity policies and procedures as well as student resources that can help you prepare for a successful semester.

Panthers Care & Counseling and Psychological Services (CAPS)

If you are looking for help for yourself or a fellow classmate, Panthers Care encourages you to express any concerns you may come across as it relates to any personal behavior concerns or worries you have, for the classmate’s well-being or yours; you are encouraged to share your concerns with FIU’s Panthers Care website.

Counseling and Psychological Services (CAPS) offers free and confidential help for anxiety, depression, stress, and other concerns that life brings. Professional counselors are available for same-day appointments. Don’t wait to call (305) 348-2277 to set up a time to talk or visit the online self-help portal.

Inclusivity Statement

This course will serve to embrace the diversity and inclusivity found within Florida International University. We appreciate and respect diversity, equality, equity, cooperativeness, community, and sustainability within our online courses. We are committed to the ongoing education of our students and their participation within the course regardless of gender, ethnicity, age, sexual orientation, geographical location, religion, and disability. We strive in encouraging collaboration by preparing our students to value the differences in others. At the core of our intentions is the encouragement of acceptance and appreciation of differences within our student population and community.

Copyright Statement

The following conduct is prohibited by the Student Conduct and Honor Code. Lack of familiarity with University policy is not a defense to a violation of this Code. Unless specifically noted, the intent is not a required element to establish a policy violation. The following conduct violation or any attempt to violate the Code will be used in charging all Students or Student Organizations;

Section 5 | Conduct Violations - g. Computer Misuse

  • vii. Unauthorized distribution or downloading of copyrighted materials, including but not limited to, unauthorized peer-to-peer file sharing. This is a violation whether the user is using their own personal computer or the University’s information technology system for unauthorized distributions.

Copyright Statement: The materials and content in this online course are provided solely for student use during the course. Course materials may not be shared outside of the course or with any third party without the explicit permission of the instructor or content publisher. Visit FIU Library’s Copyright Lib Guide to learn more about copyright law and restrictions.

Additional Resources:

Course Prerequisites

This course has a prerequisite, HMG 6427 - Accounting and Financial Management.  If for some reason you have not taken this prerequisite, please speak with Prof Bloom as soon as possible.  

Textbook and Course Materials

Hotel Asset Management - Third Edition (Required)
title : 

Hotel Asset Management - Third Edition (Required)

authors : 

Musgrove, Raleigh, & Singh

publisher : 
AHLEI
publish date : 

2016

isbn 13 : 

 Print 9780866125079                               E-Book 9780866125161

Be sure to purchase the Third Edition of this text.  It is REQUIRED for this course. Prior versions will not be useable for this course.


You may purchase your textbook online at the FIU Bookstore.  You may also purchase the textbook from AHLEI here or in an e-book version from AHLEI here

Getting to Yes (Required)
title : 

Getting to Yes (Required)

authors : 
Roger Fisher, William Ury, Bruce Patton
publisher : 

Penguin Paperbacks

publish date : 

2010

isbn 13 : 
9780143118756
Negotiation and Administration of Hotel Management Contracts (Optional)
title : 

Negotiation and Administration of Hotel Management Contracts (Optional)

authors : 

Eyster & deRoos

publisher : 

Pearson Custom Publishing

publish date : 

2009

isbn 13 : 

9780558079680

This book is out-of-print and may be difficult to find.  It is optional for this course but recommended for those looking to delve deeper into this topic.    

There will be two mandatory case studies (Seaview Investors and Hotel Vertu) that will need to be purchased and downloaded from Harvard Business Publishing at a cost of less than $10.  These can be downloaded from the following link:  https://hbsp.harvard.edu/import/896065
title : 

There will be two mandatory case studies (Seaview Investors and Hotel Vertu) that will need to be purchased and downloaded from Harvard Business Publishing at a cost of less than $10.  These can be downloaded from the following link:  https://hbsp.harvard.edu/import/896065

Expectations of This Course

This is a partially online course, which means that much of the course work will be conducted online. Expectations for performance in a partially online course are the same for a traditional course. In fact, partially online courses require a degree of self-motivation, self-discipline, and technology skills which can make these courses more demanding for some students.

Students are expected to:

  • attend all 3 in-person course sessions.  Making up missed class sessions will be extremely difficult;
  • introduce yourself to the class during the first week by posting a self-introduction in the Discussion section in  Canvas
  • prepare for all in-class sessions including completing all reading and advance assignments;
  • interact online with instructor and peers;
  • review and follow the course calendar and weekly outlines;
  • log in to the course at least 4 times per week;
  • respond to all Discussion topics by the due date specified. No late work will be accepted; 
  • submit assignments by the due date specified.  No late work will be accepted.

The instructor will:

  • log in to the course at least 4 times each week;
  • generally respond to emails within 48 hours whenever possible
  • grade assignments within 7 days of the assignment deadline.

Special COVID-19 Information

As cases and hospitalizations due to the Omicron variant continue to increase in our community, we must unite and take necessary steps to prevent further spread.


a)   Daily and before arriving to campus, complete the P3 app. If you are not given the green check mark to enter campus, then stay home, and contact me by email by forwarding your P3 app email notification advising you to stay home.


b)   Please check your FIU email account and your Canvas course at least once a day.  Email and Canvas are the official ways for the university, and your professors, to contact you.


c)   If you do not feel well and/or have tested positive for COVID-19, please do not come to class, immediately complete the P3 app to notify the COVID Response Team and contact me by email by forwarding your P3 app email notification as soon as you can.In order to receive an excused absence for P3 failure/COVID-19, you must complete the P3 app and forward the email notification. If directed to stay home by the P3 app, that email notification will serve as your excused absence when you forward it to me. The make-up policy will need to be discussed directly with the Instructor.


d)   FIU is following current CDC Guidance. Please refer to the link where you can access their most current information.


e)   Please take every precaution to keep yourself and others healthy. Per CDC guidelines, you are encouraged to get vaccinated and strongly advised to wear a mask indoors and in public including all FIU facilities. 


f)   Missing excessive days may lead to failing a class or a grade of incomplete.


g)   For me to assist you in achieving your goals, it is important for you to contact me as soon as you experience any events that might disrupt your course participation. For up-to-date information about COVID-19, please see the repopulation.fiu.edu FAQs.

.

h)   Please be advised that classes may be audio and visually recorded and/or subject to course capture for future access by students in this course. Your attendance/participation in this course constitutes consent to such recordings, which will only be used for educational purposes by students in the course and securely stored in University systems. If there is a concern regarding the recording and use of such recording, please contact FERPA@fiu.edu.

Course Detail

Course Communication

Communication in this course will take place via the Canvas Inbox. Check out the Canvas Conversations Tutorial or Canvas Guide to learn how to communicate with your instructor and peers using Announcements, Discussions, and the Inbox. .

The Professor will be available via e-mail and will make every effort to respond to e-mails within 48 hours, but this is not guaranteed.  Please consider this when planning your coursework and asking any questions of the Professor.  

Discussion Forums

Discussion Forums play an important role in this course and will serve as the primary basis for interaction outside of class sessions between the Professor and the students as well as among the students as expected in a graduate level course.  Please be sure to understand the guidelines and requirements for posting each week as noted under "Assignments".

Keep in mind that your Discussion Forum postings will be seen by other members of the course. Care should be taken when determining what to post and how it may be perceived by others.  

Assessments

In order to mitigate any issues with your computer and online assessments, it is very important that you test your ability to use Canvas from each computer you will be using during the course. It is your responsibility to make sure your computer meets the minimum hardware requirements.

Assessments in this course are generally not compatible with mobile devices and should not be taken through a mobile phone or a tablet. If you need further assistance please contact FIU Canvas Help Team.

Assignments

Unless otherwise specified, all work is to be done on an individual basis.  

Personal Introduction:  Each student will be required to submit a Personal Introduction by midnight prior to the first in-person class session. 

Case Study Writeups and Online Discussion:  There will be two case studies utilized in this course.  Students will be required to answer specific questions posed by the Professor that are related to each case.  The case study write-ups should generally be between 7 and 10 double-spaced written pages, not including any charts, tables, or financial presentations.   The Case Study Writeups must be submitted via the specific assignment in Canvas.  Following submission of the case studies, there will be an in-class discussion of the case study and each individual’s findings.  A grading rubric can be found in Canvas.  

Discussion Forums:  During weeks that class does not meet, students will engage in 3 different online discussion topics based on the reading for that week.   At the start of each module the Professor will post 3 questions related to the course readings.  Over the course of the week the students and Professor will engage in dialogue related to those specific questions.  Note that interaction among students is particularly encouraged as the Professor will not be able to respond or comment on each post.  Each student must make at least three posts for each question each week...one of these must be an original thought or response to the original and two of these should be responses to other students’ thoughts.  Keep in mind that all posts must be made by the end of each week’s Module.  

Negotiation Exercise:  During class sessions, students will participate in a Negotiation Exercise regarding a proposed hotel management contract.   All work will be done in class in groups of two determined by the students.  More information will be provided on this case study during the appropriate class session.

 Class Participation:  There will be a component of the course grade based on each student's participation in the ongoing class discussions, particularly those regarding the specific discussion questions identified to be discussed in each in-class session.  


Grading

Course Requirements
Number of Items
Points for Each
Total Points Available
Weight
Personal Introduction150505%
Case Study Writeups220040040%
Case Study Discussions25010010%
Discussion Forum Participation1216192/20020%
Negotiation Exercise120020020%
Overall Class Participation150505%
Total
10N/A1000100%

Grading Schema

Name From To
A
100%
95%
A-
< 95%
90%
B+
< 90%
87%
B
< 87%
83%
B-
< 83%
80%
C+
< 80%
77%
C
< 77%
70%
D
< 70%
60%
F
< 60%
0%

Course Calendar

Modules

Will unlock Jan 16, 2022 at 12:00 am
Will unlock Jan 22, 2022 at 12:00 am
Will unlock Jan 29, 2022 at 12:00 am
Will unlock Feb 05, 2022 at 12:00 am
Will unlock Feb 12, 2022 at 12:00 am
Will unlock Feb 18, 2022 at 12:00 am

Tentative Class Session Schedules (Subject to Change)

Saturday, January 15 - Room 235

9:00 AM to 10:00 AM – Prof Bloom Introduction & Syllabus Review

10:00 AM to 10:15 AM – Break

10:15 AM to 11:15 AM – Discussion Topic 1:

The Feldman and Singh articles were written nearly 20 years apart.  Compare and contrast these two articles with a focus on how hotel asset management evolved during that period.  Please also comment on how you think hotel asset management will evolve in the next 20 years.

11:15 AM to 11:30 AM – Break

11:30 AM to 12:30 PM – Introduction to Negotiation Part 1

12:30 PM to 1:30 PM – Lunch Break

1:30 PM to 2:30 PM – Discussion Topic 2: 

Which aspects of a hotel asset manager's role appeal most to you and why?  Which aspects appeal to you least and why?

2:30 PM to 2:45 PM – Break

2:45 PM to 3:45 PM – Discussion Topic 3: 

What is now Xenia Hotels & Resorts, Inc. was created as a division of Inland American Real Estate Trust (now Inventrust) a few years prior to the time that Pebblebrook Hotel Trust was created.  Based on Chapter 18 and internet resources, compare and contrast the foundings of each of these two hotel REITs and their current business operations.  

3:45 PM to 4:00 PM – Break

4:00 PM to 5:00 PM – Conclusion, Open Items, and Future Expectations

 __________________________________________________________________________________________________________________________________

Saturday, February 5 - Room 235

9:00 AM to 9:15 AM – Catch Up and Open Items:

9:15 AM to 10:00 AM - Discussion Topic 1

10:15 AM to 11:15 AM – Seaview Case Study Discussion Part 1

11:15 AM to 11:30 AM – Break

11:30 AM to 12:30 PM - Introduction to Negotiation Part 1

12:30 PM to 1:30 PM – Lunch Break

1:30 PM to 2:30 PM – Discussion Topic 2

2:30 PM to 2:45 PM – Break

2:45 PM to 3:45 PM – Negotiation Case Study Session 1

3:45 PM to 4:00 PM – Break

4:00 PM to 5:00 PM – Conclusion, Open Items (Seaview), and Future Expectations

__________________________________________________________________________________________________________________

Saturday, February 19 - Room 235

9:00 AM to 9:15 AM – Catch Up and Open Items:

9:15 AM to 10:00 AM - Discussion Topic 1

10:15 AM to 11:15 AM – Hotel Vertu Case Study Discussion Part 1

11:15 AM to 11:30 AM – Break

11:30 AM to 12:30 PM - Negotiation Case Study Session 2

12:30 PM to 1:30 PM – Lunch Break

1:30 PM to 2:30 PM – Discussion Topic 2 

2:30 PM to 2:45 PM – Break

2:45 PM to 3:45 PM – Negotiation Case Study Session 3

3:45 PM to 4:00 PM – Break

4:00 PM to 4:45 PM – Conclusion, Open Items (Hotel Vertu, Negotiation Case Study), and Final Week Expectations

4:45 PM to 5:00 PM - Course Wrap Up