Appendix 2: Election of Undergraduate Minor and/or Concentration

MINORS

Students may elect to pursue a university approved minor. For more details, students must contact the home college/school registrar to discuss a minor in a specific field. Additionally, it is the student's responsibility to verify with the home college/school registrar that they have met the requirements. The home school/college registrar will notify SHA registrar to make note of the minor on the student's transcripts.

Note: More than one minor may be noted on a student transcript, but only one SHA concentration.

Undergraduate Minor in Real Estate (School of Hotel Administration)

Advisors: J. Corgel, J. deRoos, P. Liu, D. Quan

The Minor in Real Estate is designed to prepare students for careers in the commercial real estate industry. Both the U.S. and international capital markets are undergoing fundamental changes, as is the nature of real estate ownership. This Minor field of study at Cornell specifically focuses on careers as a real estate investor, in real estate finance, in real estate consulting, in structured finance, and in real estate transaction support. Cornell University is at the forefront of knowledge in commercial real estate and will help prepare for a rewarding career.

The Minor in Real Estate consists of three components: coursework, connections, and careers. All are designed to help students obtain the necessary knowledge, skills, and contacts for careers as real estate investment professionals. Some examples of these positions include: asset management with a REIT or real estate fund, financial analyst with a Wall Street firm or real estate broker, associate with a Real Estate Advisory/Consulting firm, loan origination and underwriting with commercial and investment banks acquisitions analysis with pension fund advisor, and providing the foundation for a career developing and owning real estate.

GPA Requirement:

  • Students must take all course work for letter grade unless the coures is only offered S/U.
  • Students must have a minimum of a 3.0 cumulative GPA in the minor.

Coursework: The Minor is fulfilled with a minimum of six (6) courses. Four (4) courses are required and two (2) or more Electives complete the Minor. A minimum of eighteen (18) credit hours is required to complete the Minor. Note that the required courses are different for students in the School of Hotel Administration. The ideal sequence is as follows:

  1. Foundations of Financial Management – Accounting and Finance
  2. Foundations of Real Estate – RE Principles and RE Finance and Investments
  3. Enrichment Complementary Skills Electives

Requirements for students in the School of Hotel Administration (Four courses)-These course must be taken for a letter grade.

Foundations of Financial Management-Accounting and Finance

  • HADM 1121: Financial Accounting or equivalent course, as approved by the Minor coordinator
  • HADM 2222: Finance or equivalent course, as approved by the Minor coordinator

Foundations of Real Estate-RE Principles and RE Finance and Investments

  • HADM 3321: Hospitality Financial Management
  • HADM 4423: Hospitality Real Estate Finance

Requirements for students in colleges and schools outside the School of Hotel Administration: (Four courses) - These courses must be taken for a letter grade (unless offered only S-U)

Foundations of Financial Management-Accounting and Finance

Any of the following Accounting courses satisfies the Minor:

  • AEM 2210: Financial Accounting
  • HADM 2223: Financial Accounting Principles
  • ILRHR 6630: Managerial Financial Analysis
  • ORIE 3150: Financial and Managerial Accounting

*or equivalent course, as approved by the Minor coordinator

Any of the following Finance courses satisfies the Minor:

  • AEM 3240: Finance
  • HADM 2225: Finance
  • ILRHR 6910: Finance for Human Resources
  • ORIE 4151: Economic Analysis of Engineering Systems

*or equivalent course, as approved by the Minor coordinator

Foundations of Real Estate-RE Principles and RE Finance and Investments

  • HADM 4420: Principles of Real Estate
  • HADM 4428: Real Estate Finance and Investments

Electives:

There are two sets of Elective courses; Real Estate Enrichment courses and Complementary Skills courses. Students must select at least one course from each set to complete the Minor. Courses with fewer than 3 credit hours need to be combined with another course or courses to meet the requirements for the Minor in Real Estate. Deviations from the Electives must be approved by the Minor coordinator.

Real Estate Enrichment: (Minimum of three (3) credit hours)

CRP 5320: Real Estate Development Process

CRP 6560: Real Estate Transactions and Deal Structuring

HADM 4423: Hospitality Real Estate Finance

HADM 4425: Securitization and Structural Finance‡‡

HADM 4428: Real Estate Finance and Investments‡

HADM 4451: Restaurant Development

HADM 4457: Hotel Development

HADM 4487 or CRP 657: Real Estate Law

HADM 6622: Hospitality Asset Management

Complementary Skills: (Minimum of three (3) credit hours)

AEM 4110: Introduction to Econometrics

AEM 4210: Derivatives and Risk Management

AEM 4260: Fixed-Income Securities

AEM 4280: Valuation of Capital Investment

AEM 4510: Environmental Economics (also ECON 4090)

CEE 5950: Construction Planning and Operations

CRP 3270: Regional Economical Impact Analysis (also CRP 6270

CRP 3430: Affordable Housing Policy and Programs (also CRP 6430)

CRP 3840: Green Cities (also CRP 5840, LA 4950)

CRP 4040: Urban Economics (also CRP 5040)

CRP 4080: Introduction to Geographic Information Systems (GIS) (also CRP 5080)

CRP 4510: Environmental Law (also CRP 5510)

CRP 4590: Legal Aspects of Land Use Planning (also CRP 5590)

CRP 5040: Urban Economics

CRP 5190: Urban Theory and Spatial Development

CRP 5330: Real Estate Marketing and Management

CRP 5520: Land Use Planning

CRP 5530: Land Use Regulations

CRP 5560: Design in Real Estate Development

CRP 6070: GIS Applications Workshop

CRP 6590: Urban Development Planning

CRP 6640: Economics and Financing of Neighborhood Conservation and Preservation

DEA 4530: Planning and Managing the Workplace

DEA 4720: Environments for Elders: Housing and Design for an Aging Population

HADM 3351: Hospitality Facilities Design

HADM 4424: Financial Statement Analysis

HADM 4429: Investment Analysis and Portfolio Management

HADM 4452: Sustainable Development and the Global Hospitality Industry

HADM 5502: Advanced Hospitality Quantitative Analysis

HADM 6611: Negotiations in the Hospitality Industry

ILRCB 6011: Negotiation: Theory and Practice

NBA 5060: Financial Statement Analysis

NBA 5110: Financial Modeling

NBA 5420: Investment and Portfolio Analysis

NBA 6730: Introduction to Derivatives, Part 1

Connections:

The Cornell Career Services office, the Real Estate faculty, and the Minor in Real Estate Advisory Board help students by providing industry networking, facilitating the search for summer internships, and for permanent jobs. The Minor will sponsor a hospitality finance and real estate roundtable with high-level executives to be held in conjunction with the Center for Hospitality Research once per year to help expose students to various segments of the hospitality real estate industry. The Minor will conduct at least two afternoon real estate forums each term; forums will feature recent and seasoned alumni in an informal setting to discuss careers, real estate markets, and real estate deals. Students selecting the Minor in Real Estate will have the opportunity to participate in the annual Cornell Real Estate Conference, held each fall.

Careers:

All students will have the opportunity to participate in career-planning activities provided through Cornell's Career Services offices.

Questions:

Contact the Minor in Real Estate Coordinator in 465 Statler Hall.

Concentrations

Students may select an optional 12-credit concentration within the Hotel Elective requirement. Courses that fulfill concentrations are defined by the academic areas within the School of Hotel Administration. In order to declare a concentration and have it appear on your final transcript, all courses must be taken for a letter grade (unless they are only offered as S-U), and a 3.0 minimum cumulative GPA in the concentration courses must be attained. The deadline to declare a concentration is the last day of the student's penultimate semester. Concentration forms are available online at sha.cornell.edu/current-students/undergraduate/forms.html

Students may complete the requirements for more than one School of Hotel Administration concentration, but only one officially declared concentration will appear on the final transcript. For concentrations only the Area Concentration name will appear, not the specific focus of the concentration (i.e., FARE, OMCL, HFO, MISST). 

Note: Before selecting an optional undergraduate concentration, students should consult the appropriate area director during their sophomore year to plan the sequence of courses that will best fit their program.

Note: The 12 concentration credits are often taken within the School of Hotel Administration, which naturally fulfills the degree requirement for 12 credits of upper-level SHA Electives. Some concentrations may offer the option or require that the student take courses outside the School of Hotel Administration. If courses outside the school are used to fulfill any or all of the concentration credit requirement, the student must still fulfill the degree requirement of 12 credits of upper-level SHA Electives.

Finance, Accounting, and Real Estate (FARE)

The finance, accounting, and real estate concentration focuses on the analysis, financing, investing, control, and valuation of individual, corporate, and portfolios of hospitality assets. The School of Hotel Administration offers students five ways to concentrate in the FARE area. Students choosing a FARE concentration should choose the "track" that most closely matches their career objectives.

Students concentrating in the FARE area are strongly urged to augment their education with courses in probability and statistics, economics, econometrics, and mathematics. Firms hiring for entry-level positions look favorably on candidates with quantitative abilities. Taking courses in these areas will dramatically improve your competitiveness when interviewing for a position and will make you more effective as an industry professional.

1. Corporate Finance/Financial Consulting

Advisors: L. Canina, C. Chang, Q. Ma, G. Potter

This track of the concentration is designed for students seeking a career as a financial consultant in a hospitality consulting firm and as a corporate finance analyst in a hospitality company.

Any four of the following courses totaling 12 credits:

HADM 4423: Hospitality Real Estate Finance

HADM 4426: Advanced Corporate Finance

HADM 4429: Investment Analysis and Portfolio Management

HADM 6622: Hospitality Asset Management

HADM 6624: Reporting and Analysis of Financial Statements

HADM 6625: Securitization and Structured Financial Products

2. General Financial Management

Advisors: Any FARE faculty member.

This track of the concentration is designed for students who wish to have flexibility in their career path and/or want to prepare for a more generalized financially oriented career in either operations or consulting.

Required Courses

HADM 4423: Hospitality Real Estate Finance

HADM 4426: Advanced Corporate Finance

HADM 4429: Investment Analysis and Portfolio Management

Plus any other FARE area courses totaling 3 credits.

3. Hospitality Controllership

Advisors: D. Dittman, J. Hesford, G. Potter

This track of the concentration is designed for students seeking a career as a financial controller or as a managerial accountant in hospitality operations.

Any four of the following courses totaling 12 credits:

HADM 4421: Internal Control in Hospitality Operations

HADM 4422: Taxation and Management Decisions

HADM 4426: Advanced Corporate Finance

HADM 4429: Investment Analysis and Portfolio Management

HADM 6624: Reporting and Analysis of Financial Statements

5. Securities Analysis/Investment Banking

Advisors: L. Canina, C. Chang, Q. Ma

This track of the concentration is designed for students wishing to pursue a career on Wall Street as a securities or investment banking analyst.

Required Course

HADM 4429: Investment Analysis and Portfolio Management

Plus any three of the following courses, totaling 9 credits:

HADM 4423: Hospitality Real Estate Finance

HADM 4426: Advanced Corporate Finance

HADM 4427: Multinational Finance and International Risk Management

HADM 6624: Reporting and Analysis of Financial Statements

HADM 6625: Securitization and Structured Financial Products

Hospitality Facilities and Operations

The hospitality facilities and operations concentration consists of courses that define the primary sources of revenue generation in the industry: restaurants, lodging facilities, clubs, catering and special events, casinos, spas, beverage operations, etc. The choices enable a student to pursue an area of concentrated study in any one of eight tracks, organized in four broad areas: those that revolve around food service and beverage operations (tracks 1-4), specialty operations such as clubs, casinos, spas, etc. (track 5), revenue management (track 6), and facility asset management, planning, and design (tracks 7 and 8).

1. Beverage Management

Advisors: S. Mutkoski, G. Pezzotti

This track of the concentration focuses on the beverage side of the food and beverage industry. Career paths include beverage managers in restaurants, hotels, and resorts and staff positions with major wineries, wholesale distributors, or importers of various beverage products.

Required Courses

HADM 4430: Introduction to Wines

HADM 4431: Wine and Food Pairing Principles and Promotion

HADM 4436: Beverage Management

Additional courses that will benefit the student who chooses this career path (Select any combination that will yield a minimum 12-credit concentration.)

HADM 4435: Selection, Procurement, and Supply Management

HADM 4437: Anheuser Busch Seminar in Quality Brewing and Fine Beer

HADM 6606: Restaurant Revenue Management

2. Corporate Food and Beverage Operations: Restaurant, Resort, and Hotel Chains

Advisors: S. Mutkoski, G. Pezzotti, A. Susskind, M. Tabacchi

This track of concentration focuses on the corporate, multiunit foodservice industry. Career paths include food and beverage management in hotel and resort companies, multiunit or regional management in corporate foodservice organizations, and the management of chain restaurant corporations.

Required Courses

HADM 4435: Selection, Procurement, and Supply Management

HADM 4436: Beverage Management

Additional courses that will benefit the student who chooses this career path (Select any combination that will yield a minimum 12-credit concentration.)

HADM 4403: Specialty Food and Beverage Operations: Guest Chefs

HADM 4404: Catering and Special Events Management

HADM 4432: Contemporary Healthy Foods

HADM 4435: Selection, Procurement, and Supply Management

HADM 4451: Restaurant Development

HADM 4453: Foodservice Facilities Design

HADM 6602: Spa and Spa Hotel and Resort Development and Management

HADM 6606: Restaurant Revenue Management

HADM 6631: Seminar in Multiunit-Restaurant Management

3. Design

Advisors: R. Penner, S. Robson

This track of the concentration deals with the planning and design of a variety of hospitality facilities. Careers include hotel interiors and foodservice design, corporate technical assistance, and renovation management.

Required Course

HADM 3351: Hospitality Facilities Design

Plus one or both of the following:

HADM 3352: Hotel Planning and Interior Design

HADM 4453: Foodservice Facilities Design

Plus courses from the following, for an overall total of 12 credits:

HADM 4457: Hotel Development

ARCH 1501: Drawing I: Freehand Drawing

ARCH 2602: Building Technology, Materials, and Methods

DEA 3030: Interior Materials and Sustainable Elements

DEA 3500: Human Factors: The Ambient Environment

See the advisors for related courses beyond the courses listed above.

4. Development

Advisors: R. Penner, S. Robson

This track of the concentration focuses on the creation of new hotels and restaurants. Topics include project feasibility, financing, planning, design, and construction. Careers include real estate development, both as an entrepreneur and in a corporate environment.

Required Courses

HADM 3351: Hospitality Facilities Design

HADM 4423: Hospitality Real Estate Finance

HADM 4457: Hotel Development

Recommended Courses

HADM 4451: Restaurant Development

HADM 4459: International Hotel Development

HADM 4462: Communication and the Multicultural Organization

HADM 4487: Real Estate Law

HADM 6628: Real Estate Finance and Investments

CEE 5950: Construction Planning and Operations

See the advisor for related courses beyond the courses listed above.

5. Food and Beverage Support Services

Advisors: S. Mutkoski, R. Spies

This track of the concentration will focus on companies that manufacture, process, or distribute food and beverage products to the restaurant, hotel, and allied industries.

Career opportunities include wholesale and retail sales and distribution, supply and logistics, foodservice consulting, and government regulatory bodies.

Required Course

HADM 4435: Selection, Procurement, and Supply Management

Additional courses that will benefit the student who chooses this career path (Select any combination that will yield a minimum 12-credit concentration.)

HADM 4431: Wine and Food Pairing Principles and Promotion

HADM 4436: Beverage Management

HADM 4453: Foodservice Facilities Design

HADM 6609: Airline Service Management

6. Independent Restaurant Operations

Advisors: G. Pezzotti, A. Susskind

This track of the concentration focuses on the skills and competencies necessary for the management, operation, and ownership of an entrepreneurial or independent restaurant enterprise. Along with ownership, career opportunities include general restaurant management, fine dining, private clubs, and small hotel operations.

Required Courses

HADM 4401: Restaurant Entrepreneurship

HADM 4435: Selection, Procurement, and Supply Management

Additional courses that will benefit the student who chooses this career path (Select any combination that yields a minimum 12-credit concentration.)

HADM 3303: Club Management

HADM 4403: Specialty Food and Beverage Operations: Guest Chefs

HADM 4431: Wine and Food Pairing Principles and Promotion

HADM 4436: Beverage Management

HADM 4451: Restaurant Development

HADM 4453: Foodservice Facilities Design

HADM 6606: Restaurant Revenue Management

7. Revenue Management

Advisor: B. Carroll, C. Anderson

This track of the concentration focuses on helping hospitality firms more profitably manage their capacity. Careers include revenue manager, front office manager, reservations manager, and consultant.

Required Courses

HADM 4474: Strategic Information Systems

HADM 6605: Yield Management

HADM 6606: Restaurant Revenue Management

Plus one of the following courses:

HADM 4447: Managing Hospitality Distribution Strategies

ENGRI 1101: Engineering Applications of Operations Research

NBA 6000: The Strategic Role of Information Technology

See the advisor for a complete list of related courses beyond the courses listed above.

8. Specialty Operations: Clubs, Casinos, Catering, and Spas

Advisors: R. McCarthy, R. Spies, M. Tabacchi

Required Courses

Any 12-credit combination of the following courses:

HADM 3303: Club Management

HADM 4403: Specialty Food and Beverage Operations: Guest Chefs

HADM 4404: Catering and Special Events Management

HADM 4408: Introduction to Casino Operations

HADM 6602: Spa and Spa Hotel and Resort Development and Management

HADM 6631: Seminar in Multiunit-Restaurant Management

Marketing, Strategy, and Information Systems

1. Information Systems Management

Advisor: P. Clark

This track of the concentration is designed for students who are interested in technology and information systems, their development, management, and use. This track suits a broad range of career aspirations: management and IS consulting, project management, business and systems analysis, and corporate and business-unit technology management.

Required Courses

HADM 4474: Fundamentals of Database Management and Data Analysis

HADM 4476: Visual Basic for Applications: End-User Programming

or

HADM 3375: Internet Technologies for the Entrepreneur

Plus other courses recommended by the concentration advisor, for an overall total of 12 credits.

2. Services Marketing Management

Advisors: B. Carroll, C. Dev, R. Kwortnik, M. Lynn

This concentration focuses on how to get and keep profitable customers. It is appropriate for anyone planning a career in consulting, distribution, sales, brand management, marketing communications, and/or marketing research/consumer insight.

Required Elective Courses

HADM 3343: Marketing Research for Decision Makers

HADM 3347: Consumer Behavior

Distributive Electives (students must take any two of these courses):

HADM 3374: Fundamentals of Database Management and Data Analysis

HADM 4442: Strategic Marketing

HADM 4449: Integrated Marketing Communications

HADM 5540: Brand Management

HADM 5541: International Marketing

HADM 3340: Franchising in the Hospitality Industry

HADM 4440: Hospitality Pricing and Analysis

HADM 4446: Hospitality Pricing and Analysis

HADM 4447: Managing Hospitality Distribution Strategies

HADM 6645: Services Marketing and Customer Experience Management

With permission of the marketing career concentration advisors, students may substitute a marketing focused Independent Study (HADM 4499) or marketing focused Hospitality Industry Practicum (HADM 4496) for one distributive elective course, up to 3 credit hours.

 

*Any two of the 2 or 1 credit courses counts as one Distributive Elective in the concentration.

Organizational Management, Communication, and Law

This concentration offers a wide array of courses in organizational behavior, human-resource management, business communication, and law. Required courses emphasize critical reasoning, analytical thinking, and human-resource management skills. Elective courses provide opportunities to explore cutting-edge topics in management.

1. Human Resources

Advisors: M. Sturman, B. Tracey, S. Way

Optional Selections (Minimum of 12 credits)

HADM 3313: Training and Development

HADM 4411: Negotiations in the Hospitality Industry

HADM 4413: Introduction to Hospitality Entrepreneurship

HADM 4462: Intercultural Communication in the Hospitality Industry

HADM 4485: Employment Discrimination Law and Union-Management Relations

HADM 5512: Managing Compensation

HADM 5513: Strategic Human-Resource Management in Hospitality

HADM 6604: Workforce Staffing and Scheduling

(No more than one of the above courses may count toward satisfying the credit requirements for more than one concentration in Organizational Management, Communication, and Law.)

2. Law

Advisor: D. Sherwyn

Required Courses (Take four required courses. All four may come from set A, or three may come from Set A and one from Set B)

 

Set A (Minimum of 9 credits)

HADM 3385: Business Law I

HADM 4485: Employment Discrimination Law and Union-Management Relations

HADM 4487: Real Estate Law

HADM 4489: The Law of the Internet and e-Commerce

 

Set B (Up to 3 credits)

HADM 3340: Franchising in the Hospitality Industry

HADM 4411: Negotiations in the Hospitality Industry

HADM 4420: Principles of Real Estate

HADM 4423: Hospitality Real Estate Finance

HADM 4426: Advanced Corporate Finance

HADM 4481: Labor Relations in the Hospitality Industry

3. Managerial Leadership

Advisor: T. Hinkin

 

Set A (Minimum of 2 credits, but at most 6 credits to count toward concentration)

HADM 3310: Statler Leadership Program

HADM 4410: Hospitality Management Seminar

HADM 4415: Managerial Leadership in the 21st Century

HADM 4491: Hotel Ezra Cornell

(Although students may take more credits associated with HEC, only up to 4 may count toward the Managerial Leadership concentration.)

 

Set B (Minimum of 6 credits, but no more than 10 credits to count toward concentration)

HADM 3364: Corporate Communication

HADM 4411: Negotiations in the Hospitality Industry

HADM 4443: Innovation and Dynamic Management

HADM 4444: Introduction to Hospitality Entrepreneurship

HADM 4462: Intercultural Communication in the Hospitality Industry

HADM 4485: Employment Discrimination Law and Union-Management Relations