SHA 562 - Control of Hotel Real Estate

Institution:

Cornell University

Subject:

Description:

In most hotels, the physical ownership of the property is separated from the control and management of the hotel. This course explores the ways in which hotel investors separate ownership from control of the hotel and examines the two major decisions faced by owners: first, what are the benefits and costs of franchise affiliation Second, under what conditions should an owner hire a professional operator Learners will learn how management contracts are negotiated and about the motivations of each negotiating party. They will learn to prepare term sheets from the perspectives of both owners and operators to provide insight into how to structure the most advantageous deal. This course also examines contemporary hotel leases prevalent around the world. 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: Operating Agreement Choices and Trends Negotiating Contemporary Hotel Franchise Agreements Negotiating Contemporary Management Contracts Benefits to Learner Learners who complete this course will be able to: Explain the factors contributing to deciding who controls the daily operations of hotels and why Describe the key attributes of contemporary hotel leases and their applicability in different international settings Evaluate a proposed franchise agreement Assemble term sheets for new management contracts Analyze management contracts from the perspective of owners and operators 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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