Hospitality & Tourism Real Estate
Hotel Operations & Asset Management
How a hotel actually makes money and how owners protect and grow that value — the operating P&L and index measures against a competitive set, revenue management including forecasting, pace and displacement, cost and profit down to what the owner actually receives below GOP, the food and beverage, meetings and other non-rooms business, the owner-operator relationship, repositioning for value, and holding the asset through a cycle when demand falls.
The promise
Read a hotel P&L past GOP to what the owner actually receives, judge performance against a competitive set rather than against last year, and protect and grow owner value — including through a downturn.
By the end you can
- Read the departmental P&L and judge performance on index measures against an agreed competitive set
- Apply revenue levers through forecasting, pace and displacement rather than discounting to a target
- Follow cost and profit below GOP to the owner’s actual cash, including the FF&E reserve
- Judge the food and beverage, meetings and other non-rooms business on total account value
- Manage the owner-operator relationship, the agreement and the approvals that give an owner influence
- Reposition an asset for value, and hold it through a cycle without selling the recovery
Where this course takes you
This course is part of 1 role track, which ends in a professional deliverable.
Curriculum
The Hotel as an Operating Business
How a hotel is structured as an operating business: departments, the USALI P&L, the operator relationship, and how to read a hotel performance report.
Revenue Management
Optimising occupancy, ADR and RevPAR through segmentation, booking mix, and distribution across OTAs and direct channels.
Cost & Profit
GOP, GOPPAR and flow-through; managing labour and the major cost lines; controlling cost without degrading the guest experience.
Owner Asset Management
Aligning owner and operator interests through the management agreement, the FF&E reserve and capex, and monitoring to hold the operator to account.
Repositioning & Value
Rebrand and renovation ROI, deciding when to reposition, hold or sell, and executing the exit to realise value.
F&B, Meetings & Other Revenue
The non-rooms business: why food and beverage economics differ fundamentally from rooms, how meetings and events actually make or lose money, when to lease or outsource an outlet, and how an owner should judge the whole non-rooms operation.
The Hotel Through a Cycle
Hospitality is the most cyclical major asset class: how a hotel behaves when demand falls, what an owner can and cannot cut, managing seasonality and the closure decision, holding the debt and the operator relationship together under stress, and knowing when to change operator or brand.
Course assessment
Sign in to open lessons and track your progress.
The capstone project
This course ends in a real professional deliverable. Use the brief and the five criteria below to check your own work against the standard a competent professional would be held to.
Your final deliverable
Hotel Asset Management & Turnaround Plan
Check your work against five criteria
- Method & rigour: The right framework, applied correctly, with the working shown — not just an answer.
- Data honesty: Every figure is sourced, triangulated, or explicitly flagged “requires local market data”. Nothing is invented.
- Analysis & judgment: Assumptions are explicit, at least one alternative is weighed, and the key risks are quantified.
- Recommendation: A clear, decision-useful conclusion a professional could act on — with the conditions that qualify it.
- Communication: Structured, concise, and client-ready — the argument lands.
When it's ready
Your deliverable is ready when it meets the bar on all five criteria — work a competent professional could put in front of a client or committee.
Revising your work
The capstone is self-directed: you check your own work against the rubric. Where a criterion isn't met yet, revise that part and check it again — as many times as you need.
More in this academy
Hospitality Feasibility Foundations
Take a hotel from demand generators to an investment case — penetration indices, the market study, operator economics, the ten-year forecast, break-even and returns, and a feasibility report a lender can act on.
Branded Residences & Mixed-Use Hospitality
The economics and structuring of branded residences and mixed-use hospitality — why brands command a premium, how deals are structured, and how to appraise them, with a Gulf and emerging-market focus.