The MSc in Hospitality and Tourism Management is designed so that its graduates have all the economic-administrative knowledge and skills required to become reliable executives in the tourism industry or successful entrepreneurs. During the first two semesters of the MSc, students attend four (4) compulsory courses per semester, which are briefly described below. In the third semester, students work on their post-graduate thesis. Part of the requirements for completing successfully their PG thesis, students are required to attend a seminar on research methodology (duration 15 hours).
1st Semester Units
Tourism Industry and Tourism Data Analysis
The purpose of the course is twofold. On the one hand, to familiarize students with the concepts related to the economics of tourism and transport both at the macro-level (national economy) and at the micro-level (business). On the other hand, to familiarize students with data analysis using mainly the possibilities offered at a spreadsheet environment. In particular, emphasis will be placed on the organization of data into lists, the extraction of statistical measures from the lists and, in general, the use of statistics to draw conclusions for decision-making and forecasting.
Administrative Accounting for Tourism Businesses
The purpose of the unit is to introduce students to the development and use of accounting and quantitative information to assist on business decision-making, control and performance measurement. The unit cover basic concepts of accounting and costing, budget planning and control, performance measurement and ratio analysis, with an emphasis on their application in the context of the peculiarities of the tourism sector, such as seasonality, high fixed costs, and the mix of services/goods/products that tourism businesses offer.
Tourism Businesses’ Marketing Management
The purpose of the unit is to introduce students to the concept of marketing and to consolidate the basic principles, methods and problems of marketing as an administrative function in tourism enterprises. At the same time, students will delve into the special nature of tourism services and how they can be managed through the functions of marketing and strategic planning. As part of the unit, the techniques and methods applied by marketing for the analysis of business problems will be presented, and in addition, the importance of strategy formation in relation to service provision, distribution network, pricing, promotion and communication will be analyzed.
Management and Leadership in Tourism and Hotel Businesses
The purpose of the unit is for students to acquire the knowledge and skills that will allow them to manage responsibilities, collaborate and manage businesses effectively. Initially, the unit introduces students to the fundamentals of business organization and management and then specializes on contemporary topics of the subject. In addition, the unit aims to familiarize students with the basic concepts and processes in the field of human resource management and how it is linked to the achievement of business objectives. In addition, the unit equips students with the skills that will allow them to recognize the ways of shaping the dynamics of work groups and successful communication and conflict management methods. Methodologically, the course will be based on case studies, comprehension exercises and role-playing games, which will be adapted to the specific requirements and characteristics of the tourism industry.
2st Semester Units
Modern Methods of Promotion and Distribution in Tourism Businesses
The purpose of the unit is for students to recognize the importance of new technologies and innovations in the tourism sector. Additionally, they will also acquire skills related to the design and implementation of modern forms of promotion and management of distribution channels in tourism businesses. Initially, distribution channels in tourism will be presented and analyzed in the context of modern information and communication technologies, and then issues of online promotion of tourism and hotel businesses will be discussed.
Strategic Management of Tourism Businesses and Entrepreneurship
The purpose of this unit is twofold. On the one hand, it aims to equip students with the basic knowledge, techniques and skills of strategic planning, which will help them understand how a manager should act in order to successfully deal with competition and drive their business towards higher levels of performance. In these contexts, the various strategies for achieving a competitive advantage, the business strategies, as well as the expansion and internationalization strategies of the tourism and hotel businesses are presented in detail. On the other hand, the unit will introduce students to new forms of entrepreneurship in the tourism sector, away from the typical forms of mass tourism entrepreneurship. More specifically, the purpose of the unit is to lead students to a different approach to the tourist phenomenon, which will be based on the diagnosis of “business gaps” in the market and their exploitation. Therefore, emphasis will be placed on the creation of new business activity, at the level of small and medium-sized tourism enterprises.
Revenue Management
The purpose of the unit is for students to understand the concept, value and specifics of Revenue Management for tourism businesses, as well as to acquire skills related to the preparation and implementation of revenue management, control and optimization strategies. The unit initially deals with costs and how they are formed and recorded in the case of tourism businesses. Then, the concept of price is presented, in connection to the customer’s expected value. The unit also discusses cost’s impact on the company’s revenue. At the heart of the unit is pricing and its strategies, while special emphasis is placed on dynamic pricing, which optimizes revenues and, by extension, profits of tourism businesses.
Quality Management and Customer Service in Tourism
In the modern age of globalization and great competition, all businesses, either private or public, have come to realize that, in order to be competitive, they must put customers and their needs at the epicentre of their activities. This customer-centric approach and position is becoming even more predominant and imperative in hotel and tourism businesses in general, especially under current circumstances. The purpose of the unit is to introduce students to the philosophy and basic principles of Total Quality Management in the field of tourism, and to familiarize them with the use of techniques and tools for its application.
All the above-mentioned units are delivered through a combination of lectures, practical exercises (case studies), laboratory exercises (if required) and assignments. Each unit corresponds to seven and a half (7.5) credits of the European Credit Transfer and Accumulation System (ECTS), while the Master’s Thesis corresponds to thirty (30) ECTS credits.
3rd Semester: Post Graduate Thesis (Dissertation)
Dissertation
A basic component of the MSc in Hospitality and Tourism Business Management is the successful implementation and defense of their posit-graduate thesis (master’s dissertation). As part of their master’s dissertation, students are invited to work, complete and defend their individual thesis, which takes place during the third semester of studies. The purpose of the master’s thesis is to engage students into developing their own research agenda, on issues related to the academic subjects of the program, or issues pertaining to their own business environment. It is the final stage of the master’s degree and essentially shows the degree to which students have acquired the necessary skills and knowledge in order to design and carry out a research study.