This professional seminar gives an introduction to the real estate market and focuses on:

  • Real estate development processes
  • Different valuations methods
  • Valuation in the hospitality industry

Course Structure:

A MODUL University professional seminar is divided into three sections, allowing for maximum flexibility.

  1. Pre-Module phase: a two week e-learning period where participants are required to study reading material at home
  2. Core-Module phase: a two day seminar on MU Vienna’s campus
  3. Post-Module phase: a 2-4 week e-learning period where participants are required to complete a project or paper at home

Total course time is approximately one month, while the required on-campus seminar time is two days.


Mag. Martina Maly-Gärtner is Managing Director of Michaeler & Partner Vienna and Member of the MODUL University Vienna Tourism Advisory Board. She holds ten years of hotel experience in leading hotels (Hilton, Paris; Hotel Sacher, Vienna; Four Seasons and St. Regis, New York; Al Bustan Palace, Oman). She worked as hotel consultant in Berlin and Salzburg as well as in the field of Hotel real estate valuation at MRG Metzger Real Estate Group Vienna. Her expertise lies in the field of project management, hotel opening management, valuation of hotels, revenue management, and implementation of Green Globe and ÖGNI (sustainable building).


After the successful completion of this course participants are able to:

  • Understand the fundamentals of the real estate market
  • Recognize various special types of real estate
  • Understand the trading potential of hotels
  • Understand the real estate development process
  • Be conversant with the different types of valuation methods
  • Establish and evaluate the cash flow for a hotel operation
  • Recognize and understand the aspects that influence the value of properties and yields as decision making tools for investments and developments
  • Be conversant with the different key terms of property development and valuation


Participation in all three phases of the professional seminar (pre-, core- and post-module) leads to a certification, with the possibility to transfer the credits earned to a degree program (e.g. MBA program). All study programs and seminars are accredited by the Agency for Quality Assurance and Accreditation (AQ) Austria.


DI Dr. Verena Peer
MBA Program Manager
MODUL University Vienna
Am Kahlenberg 1, 1190 Wien
T: +43 (1) 3203555 302

  • Proof of an undergraduate university degree with a minimum duration of three years or completion of an equivalent degree relevant to the content of the study programme
  • A minimum of three years professional experience
  • Proof of English proficiency for non-native speakers (for detailed information please visit
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