Soon Hyeok Choi Headshot

Soon Hyeok Choi

Assistant Professor

Department of International Hospitality and Service Innovation
Saunders College of Business

Office Location

Soon Hyeok Choi

Assistant Professor

Department of International Hospitality and Service Innovation
Saunders College of Business

Education

BA, Bowdoin College; MPS, MA, Ph.D., Cornell University

Bio

Dr. Soon Hyeok Choi is an Assistant Professor of Real Estate at the Saunders College of Business in RIT. He is a real estate and financial economist. His research interests are real estate finance (residential, commercial, hospitality) and corporate finance with an emphasis on the study of durable asset financing, asset price bubbles, financial inclusion, and sustainability. Dr. Choi holds a Ph.D. in Hotel Administration, MA in Economics, and MPS in Applied Statistics from Cornell University. He graduated with an AB in Economics (magna cum laude & high honors in thesis) from Bowdoin College.


Areas of Expertise

Select Scholarship

The Winner's Curse in Housing Markets” with Adam Nowak, Patrick Smith, Alexei Tchistyi, Working Paper, 2024.

A Theory of Durable Asset Leasing” with Crocker H. Liu, Working Paper, 2024.

Pricing the Upside Potential to Downside Risk” with Robert A. Jarrow, Daniel Lebret, Crocker H. Liu, Working Paper, 2024.
- Semifinalist for Best Paper Award, Financial Intermediation & Institutions, Financial Management Association 2023
- Best Practitioner Research Award (Non-residential), $2,500 sponsored by BOMA International, American Real Estate Society 2023

Applying the Local Martingale Theory of Bubbles to Cryptocurrencies” with Robert A. Jarrow, International Journal of Theoretical and Applied Finance, 2022, Vol. 25 No. 03 2250013 1-25.

Currently Teaching

ESCB-810
3 Credits
Economics is an important foundation for business research. This course focuses on the behavior of individuals and firms in various market settings. Classical issues of demand, supply, and market equilibrium, as well as topics more germane to business research such as contracting and theory of firm are covered. Throughout, focus is on developing economic intuition, understanding applications to business research, and accumulating an in-depth understanding of useful economic theories and tools.
FINC-120
3 Credits
Examines financial decisions people must make in their personal lives. Covers personal taxation, housing and mortgages, consumer credit, insurance (including life, health, property and casualty), and retirement and estate planning. Also reviews the common financial investments made by individuals, including stocks, bonds, money market instruments and mutual funds. This class involves extensive use of the internet for access to information. (Students in the Finance Program may use this course only as a free elective, not as a course creditable towards the Finance Program.)
HSPT-465
3 Credits
This course introduces the foundations and processes of hotel asset management, including real estate and the physical asset, franchising, hotel chain affiliations, hotel management and franchise contracts, hotel valuation, and financial analysis of hotel investments. This course provides a framework for understanding hotel asset management and real estate investment from the financial and operational aspects.
HSPT-760
3 Credits
This course introduces students to the role and functions of a hospitality asset manager. This course provides students the knowledge, skills, and competencies required to apply real estate tactics and strategies to maximize asset performance. Students will learn the different analyses that lead to investment, branding, and operational decisions. Asset managers are responsible for capital investment decisions, negotiating hotel management contracts, and creating value for investors and brand owners. Students will learn how to balance the interests of investors, owners, and franchisors to create maximum value for each through appropriate operational and financial decisions.

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