The hotel development concentration provides students with in-depth knowledge of financial management and the hotel development process. Hotel finance careers may include responsibilities such as overseeing the financial processes of the hotel, maintaining audits and reports, producing monthly income statements, and coordinating budgets and forecasts. The hospitality sector is mostly associated with the hotel industry, however, many other asset classes fall into this sector, including large scale resorts, spas, timeshares, restaurants and casinos.
Another aspect of this concentration is hotel development and asset management. Many well-known hotel brand names do not own the building in which the hotel operates, but rather contract their management and brand name to the owner for a fee. Owners and real estate investment trusts employ analysts to maximize the returns earned by the property. Hotel investment professionals produce valuations, and make recommendations about the development of new assets or the remodeling of existing assets.