Comprehensive course analysis
Who should attend
- Senior leadership at hotel properties
- General managers
- Executive committee personnel
- Managers hoping to move into a senior leadership position
- Hotel owners
- Corporate-level managers interested in the formulation of business-unit and corporate strategy
About the course
The Advanced Hospitality Strategy 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 strategic management challenges and collaborate with a network of peers to expand the foundation of your hospitality knowledge.
Days 1 and 2: Creating Sustainable Innovation
Innovation: It's a hot topic these days, and there is a plethora of information regarding how to transform, change, or revolutionize your company. Many in the hospitality industry find the application of technology and product innovation methodologies just won't work for service-based companies. In this two-day intensive, you will learn what it takes to create and execute sustainable service-based innovation programs. This is a hands-on, workshop-based session that will give you a clear path to innovation.
Days 3 and 4: Using Financial Tools for Strategic Value Creation
Over these two days, you will explore how to bridge the gap between business strategy and operational performance. You will focus 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 will also be spent understanding and managing issues arising between the owner and the operator regarding their expectations and goals for the hotel.
Key course takeaways
- Review and practice a proprietary process for sustainable innovation
- Develop a managed, repeatable process for creating new opportunities
- Measure performance and value from the operator and connect it to the hotel owner's value
- Identify specific strategies that can enhance profitability and value in the hotel
- Improve financial performance by maximizing the use of working capital and long-term assets in a competitive hotel market
- Identify opportunities to reallocate hotel spaces to increase profitability
Neil Tarallo is a senior lecturer of entrepreneurship at the Cornell School of Hotel Administration. He currently serves as the director of the Cornell University Entrepreneurship Bootcamp for Disabled Veterans (EBV), which offers entrepreneurship education to post 9/11 veterans and as the direct...
Dr. Steven Carvell, a professor of finance at the School of Hotel Administration, has 30+ years of extensive service at the School and University including: Associate Dean of Academic Affairs, Academic Director of the Pillsbury Institute of Entrepreneurship, and the Cornell University Internation...
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.