Fundamentals of Hospitality Real Estate Development

Catalog description

Real estate development projects have many moving pieces - millions of dollars, groups of stakeholders, and teams of individuals working together to bring the projects to success, often over the course of several years. Throughout this course, you will focus on how to effectively manage these commercial development projects to maximize value. Utilizing specific case studies, you will determine a project's feasibility, develop project management skills, and systematically compare competing commercial development sites to ensure your selection aligns with your project goals. You will then create, cultivate, and communicate the project's vision, scope, and feasibility in a development package to share with key stakeholders to gain support for your project. This package will prepare you to create a Basis of Design document which will become the foundation for the project team's choices, rationale, and decision making throughout the process. To highlight the project's benefits and opportunities to the broader community, you'll also develop a financial pitch designed to realistically promote the project. As the final piece, you'll have the opportunity to develop plans to overcome any unexpected project challenges elegantly and efficiently. Upon completion of the course, you will have the skills and practical knowledge to take a commercial development project from conception to launch. Executive MMH elective course.