Bridging the gap: Integrating hotel asset management and real estate finance in undergraduate hospitality education

Abstract

The hospitality industry increasingly demands graduates with stronger financial acumen and asset management skills. However, many hospitality programs underemphasize hotel real estate finance and asset management, creating a competency gap between education and industry needs. This study addresses this gap by designing and evaluating a course that integrates finance, asset management, and interdisciplinary learning. A needs assessment, including curriculum reviews and stakeholder consultations, identified key competency deficiencies. Based on these findings, a new course was developed using experiential learning principles, aligning with industry standards set by the Hospitality Asset Managers Association (HAMA) and accreditation requirements of the Accreditation Commission for Programs in Hospitality Administration (ACPHA). The course content and learning outcomes were mapped to these frameworks. Industry professionals validated and enriched the course design through interviews, confirming its practical relevance. The semester-long course blends hotel asset management and real estate finance topics through experiential activities, such as case studies, projects, and simulations. Mapping analysis confirms that the course meets key HAMA domains (e.g., financial analysis, contracts) and multiple ACPHA competencies (e.g., business finance skills). Industry experts affirmed that graduates with these integrated skills would be better prepared for entry-level management roles. This is the first undergraduate hospitality course to integrate hotel asset management and real estate finance, aligned with both professional standards and academic accreditation. It offers a replicable model for enhancing hospitality education by bridging academic content with industry needs, improving student competencies and employability.