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Course Description

Imagine that you know that the administrative expenses for your hotel are 6%. Looking at other properties within your peer set, you can see that your competitors' administrative expenses are 4.5%. Is your property getting value out of spending more? How can you tell? What changes might you choose to make in response to that information?

As a hotel manager or decision maker, you want to analyze what the metrics are telling you so that you can make informed decisions that will increase profitability for your property. In this course, you will practice analyzing leading hotel benchmarking reports and their provided industry data, drawing inferences about what it means for you. You will delve into the process of benchmarking so that you can identify how well one property is performing in comparison to its peers. Using relevant metrics, including revenue per available room, dollars per available room, dollars per occupied room, expenses on an occupied room basis, and occupancy percentages, hotel owners and operators can compare the financial performance of their properties with industry-wide averages of a similar profile.

You are required to have completed the following courses or have equivalent experience before taking this course:

  • Examining the Uniform System of Accounts for the Lodging Industry (USALI)

Faculty Author

Mary MacAusland

Benefits to the Learner

  • Identify the key terminology, metrics, and format of commonly used benchmark reports
  • Given data on various chain scales, analyze the performance of a property relative to the benchmarks
  • Given data for a competitive set, evaluate the performance of a property relative to the reported metrics

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
Jun 12, 2024 to Jun 25, 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
Sep 04, 2024 to Sep 17, 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 27, 2024 to Dec 10, 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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