Being in the heart of this region gives IUM the legitimacy to develop a specialized Master of Science in Luxury Hospitality and Event Management. This is a chance for international students to explore Monaco as an indulgent destination, but also as a place where they can understand and experience the key aspects of the service industry.
Luxury hospitality industry is a multi-billion industry encompassing a broad range of fields: accommodation, food & beverage, spa, meeting & events, cruise line, yachting, gambling, entertainment, and transportation.
Our MSc in Luxury Hospitality and Event Management program offers a multidisciplinary approach: a solid business, strategic, marketing and communication knowledge combined with the exposure to the practical side, thanks to the contribution of active professionals.
The Luxury Hospitality industry worldwide is changing fast, adapting to the current trend of high professionalization of its business model; as a result, the need for managers who not only present a high level of technical expertise, but also possess a comprehensive formal strategic understanding of management tools and techniques, is rising fast. IUM has responded to this growing need for highly qualified staff with a comprehensive MSc program which provides students with a strong and focused strategic understanding of the hospitality, leisure and events business.
The IUM Master of Science in Luxury Hospitality and Events Management ensures prospective students a variety of career options. IUM offers a strong practical and strategic content to prepare students for supervisory positions in the leisure industry.
The combination of hands-on skills acquired through experience, a theoretical knowledge through university courses, make our students highly employable individual. As such, our Master program will focus primarily on areas of administration and management, providing students with the strategic understanding required to grow as an effective manager in the hospitality and tourism industry.
new trends, new concepts, new services, and new players are breaking into the sector that represents the ultimate expression of personalized service and intimate elegance.
Sharing the experience from the Master of Science in Luxury Management, the MSc in Luxury Hospitality and Event Management provides the necessary knowledge and expertise to enter in the luxury service industry through a mix of academic pillars and practical courses.
Because the luxury service oriented industries look for future leaders endowed with a good balance between creativity and managerial skills, able to provide innovative solutions, IUM professors and guest lecturers will drive the MSc in Luxury Hospitality and Event Management students in developing a resourceful and original thinking around brand and marketing strategies.
Please note that this list is not exhaustive and subject to change
This course examines the role of food & beverage, front of the house and service-related operations in the hospitality & leisure industries. Current technologies, tools, systems and procedures that are at the forefront of hospitality and tourism operations management are presented. Subject material will place emphasis on the ability to provide a practical understanding and exposure in the design, development, implementation, improvement and management for an actual hospitality enterprise.
This course introduces the hospitality management student to the basic need and value of marketing and sales efforts among hotels, airlines, restaurants, travel agents, and others in the industry. Discussion and study topics include marketing research and analysis, development and implementation of traditional and online marketing plans and strategies, advertising, promotions, public relations, and pricing structures.
The rapid growth of tourism worldwide has created many challenges and opportunities for established and emerging tourism destinations. This course looks at how to conduct a tourism assessment to examine tourism potential, and how to measure the potential costs and benefits of a tourism development program. The course also reviews how and why tourists make destination choices, and learn how to develop a strategic marketing system that emphasizes a product or destination's distinctive appeal.
This course will expose students to real world event management situations and gain the knowledge needed to understand the five stages of event management (research, design, planning, coordination, and evaluation), understand how to manage time and human resources effectively, have insight into hiring vendors, caterers, sound and light technicians, entertainment, and other resources, learn how to conduct an event site inspection, be knowledgeable about risk-management procedures and tactics, learn about the requirements for necessary contracts, permits, and licenses, and how to meet these requirements and understand budgeting, pricing, and accounting as they relate to event design.
This course covers core forecasting and budgeting concepts such as costing methods, budget process, capital budgeting, revenue forecasting, cost accounting, budget analysis and the balanced scorecard. The course shows also how specific tools are applied in budgeting and forecasting techniques, such as pivot tables and management of financial databases.
Students will make use of case methodology and exercises to create, execute and analyze different types of budgets; perform Cost-Volume-Profit and Break-even analysis, especially applied to the hospitality industry. The material also reviews optimization of financial decision-making through Strategic Planning and the Budgeting Process, Capital Investment Appraisal, Financing and Cost of Capital, Costing Techniques, Corporate Budget Process, Forecasting Methods, and Budget Controls.
This course introduces the varied tools and techniques used in the hospitality industry to develop, implement, improve and monitor Quality Systems and Processes. A special focus will be on topics such as the definition of quality of service, a review of the causes of service quality and what organizations can do to improve quality of service. Students will be made aware of the importance of quality management and its main objective to achieve in efficient and effective conditions only products that meet all customer requirements while complying with the society requirements, with applied standards and specifications, to take into consideration all aspects regarding consumer and environment protection.
We regularly offer to our Master students:
The students in the MSc in Luxury Hospitality & Event Management have to follow a Career Development Seminar, which is divided in 3 main sequences, and thus supporting the Msc students in their internship or job search strategies.
The MSc in Luxury Hospitality and Events Management provides the opportunities for graduates to pursue careers in the travel and tourism industry, events management, tourism policy and Hotel & Tourism Property Management. It has been designed to offer a broad, yet focused, multidisciplinary dimension. Students will gain a solid understanding of the Luxury Hospitality Industry based on operational and strategic cutting edge material and educational processes.