The Advanced Hotel Real Estate and Asset 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 real estate and asset management challenges and collaborate with a network of peers to expand the foundation of your hospitality knowledge.
Days 1 and 2: Strategy, Risk Management, and Asset Management
Building on the toolkit presented in the online portion of the program, this intensive session is designed to help owners, operators, and lenders optimize real estate and intellectual property returns from individual assets while recognizing their place in a larger real estate portfolio. You will use concrete tools to explore scenarios from holding/maintaining, renovating, expanding, or otherwise altering individual assets to maximize value and enhance the contribution that real estate brings to a mixed-asset portfolio. You'll consider how asset managers use the management contract as an important tool to control the partnership between the owner and manager to optimize value and performance. You'll also delve into the complexities and costs of channel management. You'll examine how to manage the risks inherent in lodging properties over the market cycle as well as how a sustainability mindset can enhance returns and value.
Days 3 and 4: Valuation, Deal Structuring, and Capital Markets
Your interest in hotel real estate can help you strategically grow your businesses and prosper throughout the market and asset cycle. With the goal of developing your modeling skills using Excel®, this session employs applications from the frontier of real estate investment to examine capital markets, deal structuring, advanced debt and equity financing, and risk analysis. Through the use of cases and examples drawn from a wide range of international experience, the content has broad application across the Americas, Europe, and Asia. Contemporary alternatives to traditional investment analysis will be introduced, discussed, and debated. You'll gain experience using contemporary tools from the capital markets, finance, and economics in a lodging context. Theoretical concepts will be accompanied by practical exercises and cases demonstrating how to create wealth.