To stay as competitive as possible in today’s demanding job market, earning a master’s degree can set you apart from other professionals.
In particular, growth in the hospitality industry has created a greater need for hospitality managers, and managers who are responsible for vacation and business travel. Such positions are going to increase by at least 8% by 2024.
By earning a master’s degree in hospitality management, you will be able to qualify for many management positions in the hospitality field. For example, you will be able to compete for these high earning hospitality-related managerial positions:
- General manager: Responsible for overseeing all hospitality and lodging operations at a company property. If you are working at a large hotel with several departments, the GM and other managers will coordinate the various activities of many other departments. For example, the GM would need to supervise housekeeping, HR, administration, sales and marketing, security and maintenance.
- Revenue manager: Works in the financial management of the facility, and monitors room sales and reservations. He also will oversee accounting matters as well as cash flow.
- Hotel manager: The manager of a large hotel must make the hotel a home away from home for both business and vacation travelers. This very important role handles all of the daily operations for both the front and back of the hotel.
- Convention service manager: Hospitality managers often are needed to handle large conventions. They must coordinate the activities of many departments. This is very important so that meetings, conventions and special events can be properly planned and conducted.
Why Earn a Master’s in Hospitality Management?
Many may not realize it, but the industry of hospital management is one of the biggest in the world. It is one of the major sources of income for dozens of countries around the globe.
Hospitality management can encompass everything from the people who clean hotel rooms to the CEO. Within that huge group of employees and professionals, there are many excellent upper level management positions that are ripe for the taking for professionals who are skilled in hospitality management.
One of the most rapidly growing areas of hospitality management is event planning. There is a big need for savvy hospitality management managers who can coordinate all aspects of all types of events and business meetings. There are millions of meeting held at hotels and convention centers every year, and more will be planned as the economy gains strength.
The hospitality management and event planning industry is growing fast, and getting into many master’s programs in this field is competitive. For example, the admissions requirements at Temple University include the following:
- Official transcripts from all bachelor’s work
- Official GRE or GMAT scores; these can be waived for students with more than five years of experience in hospitality management.
- At least two letters of reference. One of them should be from an academic sources, such as the advisor from your bachelor’s program.
- Statement of purpose about what you want to do in your hospitality management career.
- Updated resume that reflects substantial experience in the field.
- 4 GPA in bachelor’s work.
Curriculum and Courses
A good master’s program in hospitality management will consist of a very rigorous program in hospitality, marketing and financial operations. For example, Georgetown University offers a Master of Professional Studies in Global Hospitality Leadership. It includes these courses:
- Ethics and Leadership in Hospitality
- Foundations of the Hospitality Business
- Managerial Accounting and Finance
- Sales and Marketing and Communications
- Strategy and Design Thinking in the Hospitality Context
This program also offers focus areas in:
Strategic Brand and Experience
Required courses include:
- Hospitality Brand Innovation
- Trends, Technology and Consumer Insights
- Loyalty Strategy and Management
- Luxury and Lifestyle Brands
- Digital Marketing and Distribution Strategy
Strategic Planning and Development
Required courses include:
- Financial Management from a Hospitality Perspective
- Feasibility, Analytics and Valuations in the Hospitality Business
- Local Planning and Development in Global Travel
- Principles of Hospitality Law
- Principles of Asset Management
- Revenue Management for Hospitality
Career Outcomes and Job Titles
The hospitality management field is a large one, and you will be very well qualified for these and other related occupations:
- General manager
- Revenue manager
- Hotel manager
- Office manager
- Concierge manager
- Retail manager
- Event planning manager
- Operations director
- Purchasing manager
- Hospitality director or manager
You should be able to find excellent work opportunities in these areas:
- Casino management
- Travel and tourism
- Cruise ship management
- Lodging management
- Food and beverage management
- Hotel management
- Event planning management
Job and Salary Outlook
- Lodging Manager – A lodging or hotel manager is responsible for ensuring that all guests at a hotel have a good experience. These hospitality professionals also must be sure that the hotel is run in an efficient manager. Every hotel many different systems that must function well and efficiently to ensure that guests have a good experience. The job outlook in this field is bright, with 8% job growth by 2024. The median wage is $49,700.
- Food Service Manager – Food service managers also are a very important hospitality manager that ensures that restaurants are run efficiently and effectively. Restaurants are in a fiercely competitive business, and all areas of the facility have to be carefully managed to maximize profits. Jobs will grow by 5% by 2024, and the median wage is $48,800.
- Event, Meeting and Convention Planner – Meeting, convention and event planners oversee all areas of events and professional meetings. There are millions such events every year, and the success or failure of each one is dependent upon efficient and competent management by an event planning manager. Event planning managers organize all types of business conventions and most oversee every detail of the event, including finances and all logistics. This field is expected to grow substantially in the coming years, as businesses and organizations are more global in scope. Also, it is thought that there will be more economic growth in the next 10 years, so there should be many opportunities for good managers. Growth in this field will be 10% by 2024, and the median salary is $46,000 per year, but the top 10% can earn more than $80,000 per year. If you want to be an event or meeting manager, you may want to consider earning your Certified Meeting Professional (CMP) credential that is administered by the Convention Industry Council.
Scholarships and Grants
Do you want help to pay for your graduate degree? Review these opportunities below:
- American Hotel and Lodging Education Foundation: This leading hospitality management education organization offers more than $860,000 in scholarships each year to deserving students.
- Eastern Illinois University: This university offers a quality hospitality management degree program, and it offers several scholarships that can be used to pay for bachelor’s or master’s programs.
Interested in a long, dynamic career in hospitality management with a master’s degree? Continue your research into this growing field with the resources below:
- Hospitality Asset Managers Association: This association is a group of accomplished professionals in hospitality management. The purpose of the group is to encourage education, excellence and networking in the hospitality profession.
- American Hotel and Lodging Association: This group represents the interests of professionals who work in the American hotel and lodging industry.
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