HOSPITALITY AND TOURISM MASTERS
Want a career in hospitality management? Get advice on how a
Masters in Hospitality Management could set you apart, the most pressing issues for future hospitality
managers, and inspiration for your future.
The global hospitality industry is huge – and statistics to prove this are in wide supply. According to the UN World Tourism Organization, for example, tourism has a business volume equal to or larger than major industries such as oil exports, food products and automobiles.
In 2013, consultancy HVS London reported the average value of a single hotel room in Europe at 240,000 euros (about US $315,000) per year – or 660,000 euros ($865,000) in a high-end destination like Paris. Meanwhile the events sector is predicted to be worth UK £48.4 billion (almost US $75bn) by 2020 in the UK alone.
But while these kinds of statistics may be impressive, they really only brush the surface of the hospitality sector, failing to give a true impression of just how
diverse and far-reaching the industry is – and, correspondingly, the type of graduates it demands.
Challenges for future hospitality managers
While a head for figures and a certain element of natural charm are undoubtedly important, there’s actually much more to hospitality management than maintaining profit margins or being able to bring a smile to the face of a disgruntled customer.
Juggling these elements may sound like challenge enough – and undoubtedly is no easy task. But on top of these demands, future leaders in the hospitality management sector also need to be strategic and innovative thinkers, ready to seize new opportunities and adapt to meet new challenges in a rapidly evolving global market. And in order to achieve this, an
undergraduate degree alone may not be sufficient.
This, at least, is the view of Karl Wöber, president and dean of graduate programs at Austria’s MODUL University, where he also lectures on the MSc in International Management. “Many undergraduate programs in tourism and hospitality management only focus on operational matters, but rarely on strategic skills and research methodologies,” Wöber says.
The industry itself is experiencing “some seismic changes”, he believes, and as a result “urgently needs graduates with comprehensive knowledge of contemporary marketing and environmental and development issues to provide leadership for local and international
companies.”
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