Achieving Hotel Asset Management Objectives

Administer and renegotiate management contracts, evaluate capital expenditures, benchmark a property’s performance, perform asset risk analyses and evaluate hotel refinancing.

Description

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 manager 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

Course Format

All eCornell courses are delivered online and are self-paced. An eCornell instructor leads the online discussions, grades any course projects, and is available to answer specific questions about the course content.

This course contains the following modules:

• Asset Managing Hotel Management Contracts
• Administering Management Contracts
• Renegotating Management Contracts
• Managing Capital Expenditures
• Tools for Evaluating Capital Expenditures
• Monitoring Expenses
• Benchmarking Hotel Performance
• Overview of Benchmarking
• Benchmarking Revenues
• Benchmarking Expenses
• Risk Analysis and Refinancing
• Risk Analysis of Individual Assets
• Refinancing

Benefits to the Learner

Participants who complete this course will be able to:

• Manage contract administration and contract renegotiation
• Make capital expenditure decisions and manage their execution
• Use industry-standard benchmarking tools to enhance revenues and reduce costs
• Perform risk analysis designed to calibrate risk by magnifying revenue enhancement and minimizing costs according to market conditions
• Perform a refinancing analysis in order to reduce debt cost and to liberate illiquid equity for more productive investments

Authoring Faculty

Jan A. deRoos, Ph.D., Associate Professor

Sponsoring School

Cornell University's School of Hotel Administration

Total Learning Time

Approximately six hours over a period of two weeks

Certificate Information

This course can be applied toward the following certificate:

• Hotel Real Estate Investments and Asset Management