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Course Description

An operating statement tells the tale of a hotel's performance, and in this course, you'll begin to decipher this narrative at an overarching level. You'll dissect the hotel operating statement, scrutinizing each major section and the intricate story it weaves. As you delve into the specifics of hospitality lodging accounts, your analysis of the reported figures will deepen, helping you discern the hotel's current situation: How is it yielding profit? Where are its pain points? You might observe that while the hotel's revenues are on an upward trend, its expenses are also climbing. Why is that? What's the underlying cause? Should management adjust its strategy?

Even if you're not an accountant or the person responsible for crafting the operating statement, you play a significant role within the hotel property management. The lodging industry employs a unique reporting structure using uniform terms and definitions, known as the Uniform System of Accounts for the Lodging Industry (USALI). This system, while being unique to the hotel industry and not widely taught, is essential for hotel decision makers. You need to build a strong enough understanding of USALI to interpret the numbers and make informed decisions accurately.

The operating statement serves as a call to action. Every decision you make has ramifications. The key question is: What will you champion?

Faculty Author

Mary MacAusland

Benefits to the Learner

  • Identify the key components of a hotel operating statement
  • Review accounting definitions and terms used in the hotel industry
  • Examine the operating statement from five critical perspectives so that you can assess hotel performance

Target Audience

  • Hotel owners
  • Hotel general managers and directors
  • Hotel managers and department heads
  • Hotel employees using financial information for decision making
  • Accounting professionals seeking to move into the hotel industry

Applies Towards the Following Certificates

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Enroll Now - Select a section to enroll in
Type
2 week
Dates
May 29, 2024 to Jun 11, 2024
Total Number of Hours
16.0
Course Fee(s)
Contract Fee $100.00
Section Notes

IMPORTANT COURSE INFORMATION

  • For the best experience in this program, it is recommended to take these courses in the order in which they appear.
  • This course includes a year of free access to Symposium! These events feature live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
Type
2 week
Dates
Aug 21, 2024 to Sep 03, 2024
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $100.00
Section Notes

IMPORTANT COURSE INFORMATION

  • For the best experience in this program, it is recommended to take these courses in the order in which they appear.
  • This course includes a year of free access to Symposium! These events feature live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
Type
2 week
Dates
Nov 13, 2024 to Nov 26, 2024
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $100.00
Section Notes

IMPORTANT COURSE INFORMATION

  • For the best experience in this program, it is recommended to take these courses in the order in which they appear.
  • This course includes a year of free access to Symposium! These events feature live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
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