Strategic Financial Management for Hotels
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This course will 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.
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 and its managers’ performance.
- 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