The Programs

Title: Strategic Financial Management for Hotels
(formerly High-Performance Financial Management for Hotels)

Course Focus:

This course is designed to help hotel managers bridge the gap between business strategy and operational performance. The course focuses on value creation from the perspective of the hotel operator with the expectation that getting the most value out of the individual business units will, over time, aid in the company's goal of value maximization. Considerable time is also spent understanding and managing the natural agency conflicts that exist between stakeholders in the hotel.

Key Benefits:

Participants will learn how best to measure financial performance and value creation for hotels and how companies connect these metrics with the hotel’s strategic goals ands its managers’ performance.

Topics Include:

• Understanding how value is created by a hotel in a competitive market

• Measuring performance and value from the operator and connecting it to the hotel owner’s value

• Identifying how we assess whether investments made in the hotel create value for the hotel’s owner

• Identifying specific strategies that can enhance profitability and value in the hotel

• Improving financial performance by maximizing the use of working capital and long-term assets in a competitive hotel market.

• Assessing the value of outsourcing and in-sourcing in the hotel industry

• Assessing the value of the hotel’s revenue management results from the owner’s perspective

• Understanding how to allocate resources within the hotel to maximize value

• Improving value from space reallocation in the hotel

• Identifying specific cost-saving strategies for hotels to create value

Faculty

• Nilanjan Sen, Ph.D., Associate Professor: Singapore, (January 18-20, 2010)

• Steven Carvell, Ph.D., Associate Professor and Associate Dean for Academic Affairs, School of Hotel Administration, Cornell University: Ithaca, New York, U.S.A., (July 8 - 10, 2010)

• Nilanjan Sen, Ph.D., Associate Professor: Singapore, July 26 - 28, 2010)
   

Level

*This course is intended for supervisors and managers who have had experience in operations analysis. If you lack this experience, we highly recommend prior completion of “Hospitality Financial Management: Operations Decision Making.” Those who have previously completed “Financial-Asset Management” or “Using Financial Tactics to Enhance the Hotel’s Performance” should not enroll in this course due to significant overlap of course material

View Course Schedules by Location

PDP Schedule for Singapore January 2010

PDP Schedule for Singapore July 2010

PDP Schedule for Ithaca, New York*

*You will be re-directed to the School of Hotel Administration website of Cornell University