Hotel Real Estate Investments and Asset Management

Well-structured hotel real estate investments create value and bring benefits to all partners in a deal: owners, management companies, and/or lenders. Understanding the value of hotel real estate investments and management contracts from the perspective of all parties is critical to the success of mid-level and senior management in the hospitality and real estate industries.

Price: $3299.00
Enrollment Information

Description

Well-structured hotel real estate investments create value and provide benefits to all partners in a deal: owners, management companies, and/or franchisees. Understanding the value of hotel real estate investments and the dynamics of the financial and operational aspects of real estate investments, asset management, and management contracts is critical to the success of mid-level and senior management in the hospitality and real estate industries.

This certificate series focuses on developing a comprehensive knowledge base and tool set that enables you to fully understand the complex dynamics surrounding the hotel real estate and management contracts from the point of view of the property owner, operator, and lender. This multi-party view fully enables participants to structure and negotiate the most advantageous agreement taking into account the motivations of all interested parties.

There are three central themes to this certificate series:

• The separation of real estate ownership and control as a way to increase value is vital to contemporary practice
• Particular focus is on management contracts and franchise agreements and their role in assigning rights and outlining responsibilities. Participants will learn how they are negotiated; what motivates the parties to the agreement; how they are valued, how to prepare term sheets; how to administer the terms; and how to renegotiate existing contracts. Current leasing arrangements in use around the world are explored, as are the costs and benefits of franchising and the role of professional operators.
• The valuation and financing of hotel real estate investments is a key competency for today’s decision makers
• Tools include the using sophisticated methods and tools to forecast property-level revenues and expenses. The roles of debt and equity capital are examined in creating value in individual assets and in portfolios of real estate. Participants learn to price debt capital properly and evaluate the impact of debt capital on equity returns. Equity structuring is introduced, with an emphasis on understanding the returns to the sponsor of a real estate fund. Real estate exit strategies are explored, such as the role of refinancing in lieu of a sale.
• Asset management has become a legitimate and respected tool for value creation and value improvement
• The strategic vision of the portfolio manager provides a platform to explore the strategies and tactics of asset management. Using current tools and analyses, participants learn to prepare an asset management plans. The plan is based on solid benchmarking analyses, evaluation of hold versus sell strategies, and a long-term capital investment plan. Participants are able to make property level recommendations that support the overall vision for the real estate portfolio.

Who Should Take This Certificate?

This certificate series designed for:

• Managers and professionals in the hospitality industry with financial or operational responsibility for real estate, investments, or management contracts
• General managers, asset managers 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

Accreditation

Participants who successfully complete the six required courses in the series receive a Certificate in Hotel Real Estate Investments and Asset Management from Cornell University’s School of Hotel Administration.