Comprehensive course analysis
Who should attend
Hospitality professionals with at least two years of experience
About the course
The Advanced Hospitality Management Capstone, part of the Cornell Professional Development Program, is the on-campus component that results in the completion of your advanced certificate. It takes place at the Cornell University campus in Ithaca, NY, at the renowned School of Hotel Administration.
Over four intensive days, you will tackle management challenges and collaborate with a network of peers to expand the foundation of your hospitality knowledge.
Days 1 and 2: Hospitality Financial Management: Operations Decision Making
In this on-campus faculty-led intensive, you'll explore financial statement analysis tools to increase profitability within your operations. You'll practice techniques to make more strategic operational decisions about costs, volume, profit, and pricing, as well as how to best manage operating and capital budgets. This session will provide you with a background in financial accounting and financial statement analysis, and you'll use tools to analyze cash flows, results of operations, and financial position. Managerial accounting tools will also be explained, examined, and applied as they relate to the decision-making process within your hospitality organization. You'll engage with your peers in case studies and practical problem sets using common terminology employed by owners and operators.
Days 3 and 4: Strategic Decision Making for Hotel Operations
Using team decision making as the primary engine, you'll enhance the skills needed to make sound tactical and strategic decisions to improve hotel performance. You'll practice skills that lead to successful planning and implementation of both short-term and long-term strategic initiatives. This two-day intensive session leverages a simulation focusing on strategic decision making and practical exercises. You'll divide your time among working in the simulation, consulting the collateral materials, performing analyses, and engaging in group discussion and decision making. The activities will lead you to a broader understanding of complex market factors in addition to the micro-markets in which you operate. You'll leave having gained practical experience with the key competitive elements that will drive your success as a hospitality manager.
Key course takeaways
- Apply critical financial and operating ratios
- Utilize tools for analyzing the balance sheet, income statement, and cash flow statement
- Perform cost-volume-profit analysis as it relates to strategic operational decisions
- Explore use of operational and capital budgeting
- Analyze how micro- and macro-market factors affect sales and profitability
- Practice data analysis skills to inform better decision making
- Explore techniques that build long-term operational success and profitability
Mary MacAusland, CPA, PhD, is a senior lecturer at the School of Hotel Administration in the Cornell SC Johnson College of Business, where she teaches courses in financial and managerial accounting and financial statement analysis. Prior to joining Cornell, she was actively engaged in both academ...
Alex M. Susskind is an associate professor at the School of Hotel Administration and a member of the graduate field of communication at Cornell University. He earned his PhD in communication (with cognates in organizational communication and organizational behavior) from Michigan State University...
Dave joined Cornell’s Hotel School faculty in the Fall of 2020, and is currently teaching Introduction to Lodging Operations. Prior to this role, he taught graduate courses in Business Strategy and Corporate Finance at Virginia Tech’s Pamplin College of Business. Dave retired from Marriott in 20...
Read more about Business Analytics
Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.
We are happy to help you find a suitable online alternative.