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Specialization in Hospitality Business Real Estate & Development

Specialization in Hospitality Business Real Estate & Development Application

RE&D Advisory Council List

Academic specializations at Michigan State University encourage students to explore and strengthen their understanding of specialized fields of knowledge. Specializations draw on classes in a variety of disciplines to provide concentrated clusters of knowledge that enhance undergraduate degree programs. The completion of a specialization, which normally requires fifteen to twenty-four credits, is noted on a student's undergraduate transcript. Students in any major are eligible to pursue specializations. With advisor approval, courses that apply to a specialization may also be used to meet certain major or cognate requirements.

The Specialization in Hospitality Business Real Estate and Development is available as an option to students. A hospitality business major working towards this Specialization is required to attain a minimum of 7 and maximum of 13 net credits. A total of 22 credits are needed to earn the Specialization. Hotel project development is a multidimensional process that involves various professionals, such as developers, market and financial analysts, architects, engineers and contractors, land planners, lawyers, franchisors, management companies, interior designers, brokers, appraisers, lenders, and investors. The Specialization is designed to address the needs of multiple student audiences with the purpose of supplementing their core degree to increase their professional skills and career options. While not limited to these majors, students enrolled in the following degree programs may especially benefit from this specialization:

• Hospitality Business;
• Finance;
• Construction Management Program;
• Community Agriculture Recreation Resource Studies (CARRS);
• Landscape Architecture;
• Urban and Regional Planning.

Program Objectives

By providing non-hospitality business students with sector (hospitality industry) specific skills and competencies, the Specialization will present them with more career options as they work in their respective areas such as mortgage lending, property construction and development, architecture, or real estate finance. For hospitality business students, the Specialization will position them to pursue a career with firms in the real estate segment of the hospitality industry such as hotel real estate development firms, acquisition and development departments within major hotel companies, hotel consulting/appraisal firms, and mortgage lenders specializing in hotels, real estate acquisition funds, and asset management companies.

Admission

Students seeking admission must contact the Undergraduate Programs Coordinator in The School of Hospitality Business. To be considered for admission, a student must have been formally accepted as a junior to a degree program. In addition, applicants must have completed ACC 201, EC 201, EC 202, and the university mathematics requirement. Admission to the specialization is limited. Students are encouraged to apply at the time they reach junior standing. To apply, students need to complete an application with the Undergraduate Programs Coordinator in The School of Hospitality Business.

Specialization Requirements

Required Courses

All of the following courses and content areas are required to complete the Specialization requirement. (22 credits)

** The purpose of the Independent study is to work on a practical research project related to commercial real estate. Evaluation criteria of the independent study are the discretion of the guiding faculty and may include a combination of a report, presentation, or practical exposure to an on-going project.

Suggested Complimentary Courses

Work Experience

The School will require that students who are completing the Specialization and are interested in pursuing a real estate focused career, complete the 400 hours, ten week internship at a hospitality real estate firm. The School, guiding faculty, Student Industry Resource Center (SIRC), and advisory staff will jointly assist students in securing this internship. If an appropriate real estate internship is not available, students may substitute an alternate internship approved by the guiding faculty. It is recommended that the students complete HB 311 or HB 382 prior to seeking a real estate internship, to ensure competency for internship placement.

Upon completion of the requirements for the Specialization, the student should contact the Director of The School of Hospitality Business and request certification for the completion of the Specialization. After the certification is approved by the Director of The School of Hospitality Business and the Associate Dean for Undergraduate Programs of The Eli Broad College of Business, the Office of the Registrar will enter on the student's academic record the name of the Specialization and the date that it was completed. This certification will appear on the student's transcript.