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Course Description

This session takes place June 13-16, 2022 on campus at the Cornell Hotel School in Ithaca, NY. Sessions run from 8:00am-5:00pm ET each day.

Days 1 and 2: Hospitality Financial Management: Operations Decision Making

In this on-campus faculty-led intensive, you’ll explore financial statement analysis tools to increase profitability within your operations. You’ll practice techniques to make more strategic operational decisions about costs, volume, profit, and pricing, as well as how to best manage operating and capital budgets. This session will provide you with a background in financial accounting and financial statement analysis, and you’ll use tools to analyze cash flows, results of operations, and financial position. Managerial accounting tools will also be explained, examined, and applied as they relate to the decision-making process within your hospitality organization. You’ll engage with your peers in case studies and practical problem sets using common terminology employed by owners and operators.

Days 3 and 4: Strategic Decision Making for Hotel Operations

Using team decision making as the primary engine, you’ll enhance the skills needed to make sound tactical and strategic decisions to improve hotel performance. You’ll practice skills that lead to successful planning and implementation of both short-term and long-term strategic initiatives. This two-day intensive session leverages a simulation focusing on strategic decision making and practical exercises. You’ll divide your time among working in the simulation, consulting the collateral materials, performing analyses, and engaging in group discussion and decision making. The activities will lead you to a broader understanding of complex market factors in addition to the micro-markets in which you operate. You’ll leave having gained practical experience with the key competitive elements that will drive your success as a hospitality manager.

Faculty Author

Mary MacAusland

Alex Susskind

Cathy Enz

Benefits to the Learner

  • Apply critical financial and operating ratios
  • Utilize tools for analyzing the balance sheet, income statement, and cash flow statement
  • Perform cost-volume-profit analysis as it relates to strategic operational decisions
  • Explore use of operational and capital budgeting
  • Analyze how micro- and macro-market factors affect sales and profitability
  • Practice data analysis skills to inform better decision making
  • Explore techniques that build long-term operational success and profitability

Target Audience

  • Hospitality professionals with at least two years of experience
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Cornell School of Hotel Administration
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