Featured Online Hospitality MBA School
Strayer University - MBA: Hospitality and Tourism Management
The hospitality industry is growing, and competent managers and staff are needed to keep hotels, restaurants and other sections of the service industry running smoothly. A campus-based or online Master of Business Administration in Hospitality prepares graduates to lead careers in hotel management or restaurant management.
Students enrolled in online MBA hospitality programs learn key management skills and knowledge that can be applied in other segments as well, so graduates become versatile workers. However, the focus on the hospitality industry in online hospitality MBA schools gives students who want to work in that segment an advantage over graduates from general MBA programs. Many courses within a hospitality degree program have specific applications in the hospitality industry, including tourism, hospitality real estate and human resources for the service sector.
Students interested in tourism, menu design or event management may wish to consider an accredited online Master of Business Administration in Hospitality degree.
Additional common traits amongst many online MBA hospitality students are:
The time it takes to earn a hospitality MBA degree online is comparable to the time it takes to earn other MBAs online. It typically takes two years of full-time study to earn. But, some business schools have part-time or accelerated programs that give students the flexibility to complete the course under a timeframe that suits their schedule.
Accredited online MBA hospitality programs typically require students to possess a bachelor’s degree before gaining admission in the MBA program. A bachelor’s degree in related fields such as business administration, hotel management, tourism management, and communications may be preferred by some schools that have an MBA hospitality online program.
In addition to requiring students to have a bachelor’s degree, many online MBA in hospitality programs base admission on the following criteria:
The best hospitality MBA online programs include a general introduction to business and management followed by a specialization in hospitality. Most hospitality MBA programs take one year to complete, though two-year courses exist as well. Typical courses offered in the first semester or year of top MBA hospitality online programs, as rated by online hospitality MBA rankings, include leadership, strategic operational management, business economics, corporate finance and marketing.
Typically, the second half of an online MBA in hospitality program includes courses geared specifically towards the hospitality sector. These include event planning, international business, hospitality real estate and hotel franchising and management. Many programs include a strong international component or specialization.
Students enrolled in online hospitality MBA programs often complete internships in order to enhance their education. These internships can prove very important. Through them, students get a chance to put their knowledge into practical use. They also often make valuable business contacts.
Books that may be on point for students interested in hospitality MBA careers include:
1. 100 Tips for Hoteliers: What Every Successful Hotel Professional Needs to Know and Do (Peter Venison) – Full of helpful advice, Venison’s book is highly recommended for MBA online hospitality students interested in entering the hotel industry.
2. Setting the Table: The Transforming Power of Hospitality in Business (Danny Meyer) – Chronicling the establishment of the famous Denny’s food chain, this book examines what it takes to run a successful restaurant business.
3. Exceptional Service, Exceptional Profit: The Secrets of Building a Five-Star Customer Service Organization (Leonardo Inghilleri; Micah Solomon) – This book covers all segments of the hospitality industry and gives relevant advice on cultivating customer loyalty, which the authors regard as the most important factor in the success of a hospitality business.
4. The New Gold Standard: 5 Leadership Principles for Creating a Legendary Customer Experience Courtesy of the Ritz-Carlton Hotel Company (Joseph Michelli) – A must-read for anyone interested in working in the five-star hotel industry, this book reveals the secrets that have made the Ritz-Carlton hotel company so successful for so long.
5. Revenue Management for the Hospitality Industry (David K. Hayes, Allisha Miller) – This straightforward book focuses on the money side of the hospitality industry and is the first book written specifically for revenue managers in the hospitality segment.
The U.S. Bureau of Labor Statistics (BLS) recorded 51,400 lodging management jobs and 320,600 food service management jobs in 2010. While the average hospitality MBA salary may vary widely depending on the sector, below are some sample positions and salaries available to hospitality MBA online graduates:
The projected growth of the hospitality industry is also dependent on the sector. The BLS projects a moderate growth rate of 8% for lodging management jobs, but a decline of 3% for food service management jobs over the next decade. Slow growth in the food service industry is partly due to oversaturation in the marketplace. However, graduates of hospitality MBA schools online should have an advantage in hiring, even in a downturn.
Many employers prefer graduates who have earned their degrees from AACSB accredited hospitality MBA programs. Association to Advance Collegiate Schools of Business accreditation typically indicates that a business school gives students a quality education.