Investing in hotel real estate is a complicated and rewarding endeavor. To be successful, hotel investors must be able to determine the financial interests of those involved in any project.
In this course, Professor deRoos demonstrates several analytical tools used by real estate professionals to evaluate hotel investments. You will explore how owners, operators, and lenders evaluate potential hotel projects. Using an Excel-based tool, you will estimate the return on investment and return on equity for a hotel investment. Debt and equity financing are critical to every project and in this course, you will learn how to estimate the size of a mortgage loan given the lender's requirements. With real-world examples, practical tools, and opportunities to practice, you will develop the skills necessary to structure your own hotel real estate investments.
Key Course Takeaways
Explore the varied motivations of owners, operators, and lenders in pursuing real estate investments
Examine the different investment approaches taken by owners in the hotel industry
Estimate the return on investment and the return on equity for a prospective hotel investment
Estimate the value of a proposed hotel using a variety of methods
Analyze and evaluate investment projects from the perspective of owners, operators, and lenders
Size a mortgage that meets the needs of different partners
Make informed decisions about the relative attractiveness of hotel investments
Professor, Nolan School of Hotel Administration, Cornell SC Johnson College of Business
Jan A. deRoos is the HVS Professor of Hotel Finance and Real Estate at the Cornell SC Johnson College of Business. He has devoted his career to teaching and research related to hospitality real estate, with a focus on the valuation, financing, development, and control of lodging, timeshare, and restaurant assets.
Professor deRoos has developed two online executive education programs for real estate professionals: one with a broad real estate industry perspective and a second that focuses on lodging. He co-developed a free web-based tool, the Hotel Valuation Software, with Stephen Rushmore of HVS International. His book on hotel management agreements, co-authored with the late James Eyster, is the seminal academic publication on the topic.
Prior to joining Cornell, Professor deRoos worked extensively in the hotel industry as a construction and engineering manager.
Managers and professionals with financial or operational responsibility of hotel real estate, investments, financing, or asset management including asset managers and portfolio managers. Professionals working for or aspiring to work for real estate funds, REITs, real estate developers, real estate advisory firms, and others affiliated with the creation and use of real estate as a financial asset, focused on hotel real estate investment projects.
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