Achieving Hotel Asset Management Objectives
Hotel asset management is the responsibility of managing the lodging investment to meet the specific objectives of ownership. This course introduces the latest asset management techniques and provides a set of practical tools and tactics that owners and asset managers can use to achieve their strategic objectives.
Participants will learn how to administer and renegotiate management contracts, evaluate capital expenditures and manage their execution, and monitor expenses to reduce costs. They will learn how to benchmark a property’s revenue and expense performance against the market, perform asset risk analyses tailored to current market conditions, and evaluate various refinancing opportunities to reduce debt costs or free up capital for other investment opportunities.
Who Should Take this Course?
This course is designed for –
- Managers and professionals in the hospitality industry with financial or operational responsibility for real estate, investments, or management contracts;
- General managers, asset managers, and others with asset management responsibilities;
- Business development professionals with branded operators who have professional interaction with owners;
- Lenders, investors, real estate professionals, and developers who seek entrance into the hospitality real estate market.
Participants who complete this course will be able to..
Explore dispute resolution tools to manage conflict arising from the implementation of the management agreement
Calibrate the capital expenditure budget to fit different ownership requirements and market conditions
Evaluate capital expenditures and give meaningful input on near-term and long-term capital expenditure plans
Utilize industry-standard tools to benchmark revenues and expenses
Use benchmarking outcomes to ask informed questions about a property's operational results
Perform risk analysis designed to calibrate risk by increasing revenue and minimizing costs according to market conditions
Make refinancing decisions on a hotel property designed to reduce debt cost and to free up equity for more productive investments
- Jan deRoos, Ph.D., Associate Professor and HVS International Professor of Finance and Real Estate , School of Hotel Administration, Cornell SC Johnson College of Business
Estimated Hours to Complete Course: 6.0
About the School of Hotel Administration at the Cornell SC Johnson College of Business
The School of Hotel Administration at the Cornell SC Johnson College of Business is shaping the global knowledge base for hospitality management through leadership in education, research, and industry advancement. Accredited by the Association to Advance Collegiate Schools of Business (AACSB), the school provides management instruction in the full range of hospitality disciplines, educating the next generation of leaders in the world's largest industry. Founded in 1922 as the nation's first collegiate course of study in hospitality management, the Cornell School of Hotel Administration is recognized as the world leader in its field.