Ultimately, the goal of an asset manager is to strategically oversee hotel operations to meet the hotel owner’s investment objectives. To help you meet that goal, Cornell University professor Jan deRoos introduces the latest asset management techniques and provides a set of five practical tools 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.
The courses Financial Analysis of Hotel Investments, Control of Hotel Real Estate, and Developing an Asset Management Strategy are required to be completed prior to starting this course.
KEY COURSE TAKEAWAYS
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
Professor, The Hotel School, Cornell SC Johnson College of Business
Jan A. deRoos is the HVS Professor of Hotel Finance and Real Estate at the Cornell SC Johnson College of Business. He has devoted his career to teaching and research related to hospitality real estate, with a focus on the valuation, financing, development, and control of lodging, timeshare, and restaurant assets.
DeRoos has developed two online executive education programs for real estate professionals; one with a broad real estate industry perspective and a second that focuses on lodging. He co-developed a free web-based tool, the Hotel Valuation Software, with Stephen Rushmore of HVS International. His book on hotel management agreements, co-authored with the late James Eyster, is the seminal academic publication on the topic.
Prior to joining Cornell, deRoos worked extensively in the hotel industry as a construction and engineering manager.
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.
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