Hotel Management Career Path – Hospitality is big business. How big is that? The global hospitality industry contributes up to trillions of dollars and at least one in ten people are employed in the tourism or hospitality industry. With a large amount of funds and a large number of employees, this industry is in great need of skilled business managers. As advanced technology, changing consumer trends and international challenges change the way people spend their free time and money, those with the highest education will be poised to shape the future of this rapidly growing field . An MBA in Hospitality can allow you to do just that. Business managers with a Hospitality MBA have effective, lucrative and flexible careers in a large, growing and thriving industry.
The word “hospitality” itself is derived from the Latin root “hospes” meaning “stranger” or “visitor”. Appropriately, hospitality is about transforming the experience of a newcomer from that of a stranger to that of a welcome guest. Hospitality is an essential part of the human experience, and hospitality systems ranging from inns to spas have existed since ancient times. From honeymooning in Bali to a trip to Disney with kids, some of the happiest memories of people revolve around the hospitality industry. In short, leisure is much more than just fun and play – it is a deeply embedded human value. With an MBA in Hospitality, you will not only have excellent job prospects, but will also have a career in a people-focused field that enriches people’s lives.
Hotel Management Career Path
We’ve rounded up the latest information about hospitality MBAs, what these degrees are, how to earn them, and what you can do with an MBA in Hospitality Business Management. Our guide, “What can I do with an MBA in Hospitality?” It will help you to answer your question. and enable you to embark on a lucrative and fulfilling career path.
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It is hard to overestimate the size and impact of the hospitality economy. Annual revenue for hotels in the US alone reached $185 billion in 2017, and another $18 billion was spent on cruises. This is much more than what is spent on countless other niche hospitality settings such as theme parks, casinos and spa retreats. And hospitality certainly isn’t limited to America. People all over the world vacation in their home country and abroad, and international travel is one of the favorite ways for people to spend their free time and disposable income. Worldwide, the travel and tourism industry earns $8.72 trillion. In addition to leisure and leisure travel, the hospitality industry includes catering, conferences, business travel, casinos, theme parks, cruises and many other leisure and travel businesses.
With so much money and so many types of jobs in the hospitality industry, there is a need for talented leaders at all levels to make decisions and oversee operations. Hospitality management is the application of business principles and practices in the hospitality industry. This includes everything from supply chain management for a restaurant chain to human resource management for a convention center to the purchase of real estate for a resort. The breadth of the hospitality industry means hospitality business management often includes business areas such as:
The MBA is the gold standard in the world of business education, providing robust training in a wide range of business disciplines, from finance to human resources. This flexible and in-demand degree gives graduates access to a wide range of prestigious and lucrative careers. A hospitality MBA is a master of business management degree that focuses entirely on the hospitality business. In the Hospitality MBA program, you will focus on general business practices and principles, then focus on how these work in the hospitality industry.
Whether you’re enrolled in an on-campus or an online MBA, this degree typically takes two years to complete. For those who want to complete their degree faster, there are a number of excellent accelerated MBA programs that combine a single course in a short amount of time, often as little as 18 months. Part-time students, on the other hand, can expect to spend 3-5 years pursuing an MBA in accommodation, depending on their course load per semester.
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Both MBA in Hospitality and MSc in Hospitality provide training in the management and business aspects of the hospitality industry. Both degrees traditionally take two years to complete. Both lead graduates to senior management and administrative jobs. Both are associated with attractive salaries. MBA in Hospitality and MSc in Hospitality both cover the same syllabus. Because there is so much overlap between the two, many people ask, “What is the real difference between an MSc in Hotel Management and an MA in Hospitality Management?” she wonders.
Despite all the shared academic and professional space, there is a meaningful and clear distinction between an MSc in Hospitality Management and an MA in Hospitality Management. At its most basic level, it’s worth noting; The MSc in Hospitality Management focuses on organizational management, while the MBA in Hospitality focuses on business management.
The MA or MS in Hospitality Management provides comprehensive preparation for organizational leadership roles. This type of program teaches students how to run a hotel, cruise line, casino or convention center smoothly. To that end, this type of degree program includes staff monitoring, direct customer service, balance book, following rules and managing supplies. Administrative, problem-solving, leadership and interpersonal skills are essential for this type of role.
On the other hand, Hospitality Management MBA focuses on the bigger picture by looking at the business as a whole. Rather than management and administration, graduates with an MBA degree in the hospitality industry all work in the hospitality industry in areas such as strategic planning, marketing, analysis and change management. MBA in Hospitality trains graduates to uncover consumer trends, develop innovative brand strategies, increase profit margins and increase their market share. Analytical thinking, a strategic mindset, qualitative skills and sound decision making are essential to excel in the business side of hospitality.
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Apart from the classes, the academic environment also differs between the two. A master’s is usually offered through a graduate school, usually a hospitality school, while an MBA is taught through a business school. Many schools also offer a dual MS/MBA in accommodation, which usually takes 3 years to earn. Another important difference between Hospitality Management Master and Hospitality MBA is the experience required to enroll. While many people begin a master’s degree in hospitality soon after completing a bachelor’s degree, a hospitality MBA typically requires two or more years of professional experience.
As mentioned above, a hospitality MBA is, first and foremost, an undergraduate level business degree. This means that you will focus on business classes for most of your MBA program and then learn to apply business principles in the hospitality concentration.
The MBA aims to prepare students with a wide range of business mastery, including teamwork, problem solving, leadership and strategic thinking. In the first year of your two-year study, you will take general business courses such as:
After completing your Foundation level business courses, you will continue to complete hospitality management courses. At this point, you will be able to apply your business insight and strategic thinking to housing issues. Typical class topics for the Hospitality MBA concentration may include:
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For your Hospitality MBA, you will learn not only through lectures, but also through projects, group assignments, research and case studies. Some business schools offer students the opportunity to do an MBA internship with a hospitality firm.
One of the advantages of a Hospitality MBA is the formal training in current skills and disciplines. This means learning about the latest management software, travel apps, new research and current best practices in the industry. You will also become familiar with the latest trends in hospitality and entertainment and learn to take advantage of them to help your employer stay current and competitive. Current trends in hospitality include:
Getting an MBA means leaving work for two years to attend an on-campus MBA program at a brick-and-mortar business school. Today, more and more students are opting for a part-time online MBA, often to maintain their current job or achieve a better work-life balance. Once a groundbreaking innovation in education, online business schools are now a well-established part of the world of higher education. As we have included in our <best online MBA rankings, there are many excellent schools that offer an affordable, rigorous and prestigious online MBA.
Online MBA has the same curriculum as on-campus MBA, but offers course material in a virtual classroom. It usually has a combination of online modules, text and assignments, video conferences, message boards, and live chat and video conferencing. Many schools also include some personal component to develop strong relationships between students and their peers and professors. Examples include multiple weekend concentrations and annual week-long immersions.
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With a Hospitality MBA, you can truly work in any area of Business Management from anywhere in the world. From ski resorts to theme parks, from industry conventions to eco-tourism, there are literally thousands of hospitality niches, and each has real needs.
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