SHA 561 - Financial Analysis of Hotel Investments

Institution:

Cornell University

Subject:

Description:

A hotel's real estate is one if its most valuable assets and it is essential to be able to accurately value this critical investment. This course uses practical and theoretically grounded tools of investment analysis and valuation to introduce learners to contemporary practices in lodging investments. Learners will learn to evaluate hotel investments and hotel financing decisions and structure deals that meet the needs of the owner, the operator, and the lender. This course explores the multiple elements and factors involved in the hotel investment decision including the hotel owneroperator- lender partnership and the different ways each party will evaluate a real estate investment deal. This multi-party view will enable you to negotiate the most favorable agreement based on your priorities and requirements and evaluate alternatives. This course provides thorough coverage of how a deal is structured using debt and equity financing, and the impact of debt financing on equity returns. Who Should Take This Course This course is designed for: Managers and professionals in the hospitality industry with financial or operational responsibility for real estate, investments, or management contracts General managers, asset manager and others with asset management responsibilities Business development professionals with branded operators who have professional interaction with owners Lenders, investors, real estate professionals, and developers who seek entrance into the hospitality real estate market Course Format This course contains the following modules: The Hotel Owner-Operator-Lender Partnership Evaluating the Deal: How Owners, Operators, and Lenders Evaluate Proposed Projects Structuring the Deal: Current Equity and Debt Financing Structures Benefits to Learner Learners who complete this course will be able to: Explain the varied motivations of owners, operators, and lenders in pursuing real-estate investments Analyze and evaluate investment projects from the perspective of owners, operators, and lenders Structure hotel investments that meet the needs of all parties Make informed decisions about the attractiveness of hotel investments, especially the decision to invest equity in a hotel Certificate Information This course can be applied to the following certificate: Hotel Real Estate Investments and Asset Management Sponsoring School Cornell University's School of Hotel Administration

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.cornell.edu

Phone Number:

(607) 255-2000

Regional Accreditation:

Middle States Association of Colleges and Schools

Calendar System:

Semester

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