Achieving Hotel Asset Management Objectives
The goal of an asset manager is to strategically manage the hotel to meet the specific investment objectives of the hotel's owner. To help meet this goal, this course introduces the latest asset management techniques and provides a set of five practical tools tactics that both owners and asset managers can use to achieve their strategic objectives.
In this course, you examine the various negotiation tactics and conflict resolution approaches that you can use to help when issues arise between owners and the hotel manager. You will examine capital expenditure planning and benchmarking, which can enable you to strategically increase hotel performance and its overall long-term value. Finally, you’ll learn how to manage and analyze risk appropriately, in order to make refinancing decisions that use debt creatively.
Once you've completed this course, with its in-depth case studies and step-by-step guidance, you will be equipped with the asset manager’s toolkit, ready to tackle the challenges of this dynamic role.
Who Should Take this Course?
This course is designed for managers and professionals with financial or operational responsibility of hotel real estate, investments, financing, or asset management including asset managers, and portfolio managers; professionals working for or aspiring to work for real estate funds, REITs, real estate developers, real estate advisory firms, and others affiliated with the creation and use of real estate as a financial asset, focused on hotel real estate investment projects.
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
Module 1 - Asset Managing Hotel Management Agreements
- Administering Management Contracts
- Renegotiating Management Contracts
Module 2 - Managing Capital Expenditures
- Tools for Evaluating Capital Expenditures
- Monitoring Expenses
Module 3 - Benchmarking Hotel Performance
- Overview of Benchmarking
- Benchmarking Revenues
- Benchmarking Expenses
Module 4 - Risk Analysis and Refinancing
- Risk Analysis and Individual Assets
- Prof Jan de Roos, Academic Director of the Cornell-Vin University Project, Cornell SC Johnson College of Business