Hotel and Tourism Management
Fields of Study
The hospitality business is a leading growth industry in Hong Kong, which is home to several major worldwide hotel chains. As a significant number of leading property companies in Hong Kong also have business ties with the hotel industry, research activities in the areas of hospitality, tourism, real estate and finance span a wide spectrum of topics. Hospitality-related research conducted by the School of Hotel and Tourism Management falls into four main areas:
Real Estate and Finance
Major issues examined include the development of property valuation theories, property acquisition and financing methods, the best use of property and the development of secondary property equity and debt markets. Specific research topics concentrate on price behaviour and agency issues in Real Estate Investment Trusts, asset pricing theories, the market efficiency of the property markets and strategic development by developers. Future research will look at the unique features of the Hong Kong property market, the short-term stochastic movement of hotel-related revenue and other issues related to hospitality and property.
Marketing and Tourism
The hospitality and travel industries are part of the growing service sector. The growth of service industries has created a demand for research into marketing approaches that increase service effectiveness given the unique characteristics of intangibility, inseparability, perishability and variability intrinsic to these industries. In research terms, the presence of a service provider also moderates practically all marketing theories on buyer-seller interaction. At the macro level, research topics include destination marketing, franchising, management contract and brand equity. Theory development emphasises issues that are especially relevant to Hong Kong and mainland China, such as the negotiation and cross-cultural aspects of hospitality marketing.