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Control of Hotel Real Estate

Course ID: SHA562
Learn how investors separate ownership from control of hotel properties, how management contracts are negotiated, and how to prepare term sheets from the perspectives of both owners and operators.

Description

In most hotels, the physical ownership of the property is separated from the control and management of the hotel. This course explores the ways in which hotel investors separate ownership from control of the hotel and examines the two major decisions faced by owners: first, what are the benefits and costs of franchise affiliation? Second, under what conditions should an owner hire a professional operator?

Participants will learn how management contracts are negotiated and about the motivations of each negotiating party. They will learn to prepare term sheets from the perspectives of both owners and operators to provide insight into how to structure the most advantageous deal. This course also examines contemporary hotel leases prevalent around the world.

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

Certificate Information

This course can be applied toward the following certificate:

Hotel Real Estate Investments and Asset Management

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:

Operating Agreement Choices and Trends

Who Controls the Operations?
Choosing the Operator and Type of Branding
Leasing

Negotiating Contemporary Hotel Franchise Agreements

Evaluating Franchise Affiliation
Franchises in the Future

Negotiating Contemporary Management Contracts

Owner-Manager Relationships
Negotiating the Contract: The Provisions of the Term Sheet
Case Study: Crafting an Advantageous Management Agreement

Benefits to the Learner

Participants who complete this course will be able to:

Explain the factors contributing to deciding who controls the daily operations of hotels and why
Describe the key attributes of contemporary hotel leases and their applicability in different international settings
Evaluate a proposed franchise agreement
Assemble term sheets for new management contracts
Analyze management contracts from the perspective of owners and operators

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

Enrollment

Price: $699.00
(This price is good as of 09/02/2010.)

Enroll Now

To register, click 'Enroll Now' at right, or contact an Enrollment Counselor at info@ecornell.com or 1-866-326-7635 (+1-607-330-3200 from outside the United States).

Certificate programs are eligible for eCornell Payment Plans. Discounts are available for military personnel, veterans, and Cornell University Alumni. eCornell programs are not eligible for financial aid or federal Pell Grants. Contact an enrollment counselor for more information.

Next 3 Course available dates are:

September 15, 2010
October 27, 2010
December 8, 2010

Click 'Enroll Now' to see available dates beyond December 8, 2010.

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Students who purchased this course also purchased:

Project Management Institute Professional Development Units

This course qualifies for 5.75 Professional Development Units (PDUs) from the Project Management Institute (PMI) for Professional Project Managers (PMPs) seeking ongoing education and professional development for continuing certification. eCornell is a Global Registered Education Provider of PMI. PDUs are designated as Category 3.

Technical Requirements

With all eCornell courses, access is easy. Participants only need a computer and an Internet connection. To view specific technology requirements, visit our Technology Requirements page.