BHMT402 – Creating Value in the Hospitality Economy
The main aim of this course is the examination, research, and analysis of various factors of the creation of economic value through marketing functions in the hospitality industry. The course will enable students to evaluate the impact of marketing decisions on the future evolution of monetary flow, in terms of risks and profitability, to guarantee the sustainability of the organization and the satisfaction of the shareholder’s demands.
Students will learn the importance of innovation in creating economic value, as well as strategic thinking and leadership that create and enhance value through differentiation strategies. Students will evaluate changing markets and consumer behaviour to identify value opportunities for the next 5-10 years. Students will be able to identify and prioritize value opportunities through Information Management (IM) and market research and transform them into value-added and innovative hospitality concepts through profitable customer experiences. The course will also explore the subject of environmental changes (most recently – the global pandemic), leading to changes in consumer behaviour, confidence, and perception of value.