Weill Medical College of Cornell University · Courses
eCornell SHA
147 courses with the subject eCornell SHA, each shown exactly as we captured it from the college's catalog, with every element we hold. Where the wording looks broken, that is our reading of the catalog, not the college's text.
eCornell SHA099Introduction to Hotel Operations0
Running a successful hotel today is a highly collaborative process involving many roles. This course is structured around the four key stages in the guest experience -- pre-arrival, arrival, occupancy, and departure -- and will explain hotel operations, the systems that hotels rely on, and the managers and staff who run them. During the guests' experience, managers and staff will learn how to engage with guests to win and maintain their loyalty. Professor Reneta McCarthy brings first-hand knowledge of hotel operations to this course, providing insights and guidelines that will give participants a good understanding of the inner workings of today's hotels.
eCornell SHA521Services Marketing Planning and Management0
Services marketing is often viewed in terms of outcomes, but services marketing is also an ongoing analytic process. In this course, you will learn how to properly analyze frameworks, tools, channels, data sets, customer behavioral data, decision-making factors, and strategies that support broader marketing decisions. Authored by Robert Kwortnik from Cornell University's School of Hotel Administration, this course will teach you how to review the way marketing works in your organization and how to create and apply a services marketing process.
eCornell SHA522Evaluating Business and Customer Factors Affecting Marketing Decisions for Services0
To make services marketing work, you need to have a clear picture of the business environment and understand how your target customers behave. Knowing your market and assessing consumer demand can help inform and guide your marketing strategies. In this course, you will explore the role that micro and macro forces play when conducting a situation analysis. You'll also take a deep dive into what drives consumer behavior.
eCornell SHA523Building a Resilient Services Marketing Information System0
Your services marketing efforts depend on information. Without relevant and accurate information, every decision you make will suffer from bad input. A well-run marketing information system captures, organizes, analyzes, and interprets data from a wide variety of sources to create a robust portrait of the ideal customers and their specific wants or needs. With the ideal buyer in mind, you can better target them with high-impact messaging that communicates a compelling brand promise and a clear reason to buy. In this course, you will learn when to use internal or external market data and when to conduct your own primary research. You'll also discover how segmentation, targeting, and positioning (the STP process) translates your analysis and research findings into a positioning strategy that appeals to the right target market at the right time and at the right price.
eCornell SHA524Developing a Service Strategy and Managing the Brand0
You have marketing goals and you're feeling ready to execute. Maybe you want to increase market share, retain more customers or generally broaden consumer awareness. But how do you turn your goals into action? And how will you measure success? In this course, you will explore how to turn marketing goals into action by developing a marketing strategy and creating an enduring brand promise.
eCornell SHA525Managing Service Demand through Pricing and Distribution Strategies0
You want your marketing efforts to generate demand. While increased demand naturally drives business and success, it does come with specific sets of challenges. Mitigating these challenges requires a keen understanding of demand management. In essence, demand management requires us to ask "How should we set our prices?" "How will we guarantee that our distribution partners ensure timely delivery?" In this course, you'll answer those questions and explore how pricing and distribution strategies can directly affect demand for your service.
eCornell SHA526Developing an Integrated Marketing Communications Strategy for Services0
It's hard to overstate: A marketing strategy lives or dies in communication with the customer. And there's a methodology to it it is the culmination of all of the marketing research and analysis you've done. What you say, how you say it, how often you say it, the media channels you use to distribute your message, how you respond to complaints all of this affects customers' experiences with your brand. In this course, you'll take a deep dive into integrated marketing communications, or IMC. You'll explore a process-based approach to designing creative communications using a variety of methods and media. Finally, you'll examine ways to assess the performance of an IMC campaign.
eCornell SHA531Introduction to Hotel Revenue Management0
Revenue management is key to any business that has relatively fixed capacity, perishable inventory, and time-variable demand. This course introduces you to the basics of revenue management in the hotel industry: how to apply pricing and length-of-stay tools and how to measure your revenue management performance. It is designed to inspire you to shift your thinking about revenue management from a focus on occupancy and average room rate to a focus on revenue per available room (RevPAR). This course teaches you how to accurately forecast guest arrivals at your hotel, examine pricing models in accordance with revenue management principles, and to manage overbooking. All of the techniques and practices discussed in this course are applicable to a variety of service management roles. By completing this course you will have compiled detailed notes and recommendations for implementing revenue management at the organization where you work.
eCornell SHA532Forecasting and Availability Controls in Hotel Revenue Management0
Successful revenue management strategies hinge on the ability to forecast demand and to control room availability and length of stay. This course explores the role of the forecast in a revenue management strategy and the positive impact that forecasting can also have on staff scheduling and purchasing. Authored by Professor Sheryl E. Kimes from Cornell University's School of Hotel Administration, during this course you'll get a step-by-step approach to creating an accurate forecast as you learn how to build booking curves, account for "pick-up", segment demand by market, group, and channel, and calculate error and account for its impact. This course includes: Five self-check quizzes Two discussions Two Ask the Expert interactives One activity One downloadable tool to use on the job One action plan to apply what you learn One video transcript file The course Introduction to Hotel Revenue Management is required to be completed prior to starting this course.
eCornell SHA533Pricing Strategy and Distribution Channels in Hotel Revenue Management0
A smart pricing strategy is the best way to increase revenue. This course teaches you how to set prices, develop rate fences (differentiate prices by customer type), and use multiple distribution channels to manage price more effectively. You'll also learn about the impact of variable pricing and discounting on revenue management in the context of price elasticity, optimal price mix, perceived fairness, and congruence with positioning and sales strategies. Discover the ins and outs of channel management, an essential tool for controlling differentiated pricing, maintaining rate fences, and increasing revenue. Explore various approaches to managing distribution channels including direct sales, agencies, the Internet, and opaque pricing channels. Sheryl E. Kimes, professor at Cornell University's School of Hotel Administration, will provide you with the knowledge you need to help run a successful organization. It is recommended to take Introduction to Hotel Revenue Management prior to this course or have equivalent experience.
eCornell SHA534Overbooking Practices in Hotel Revenue Management0
Businesses that accept reservations must cope with the problem of no-shows: customers who make a reservation but fail to honor it. Hotels can protect themselves against revenue loss from no-shows by overbooking. This course teaches you how to strategically overbook and how to evaluate groups in order to determine which rates to charge. You will examine the components of a successful overbooking strategy: no-show forecasting, no-show rates, arrival uncertainty, pricing policies, and cancellation forecasts. You will consider the risks of overbooking and review strategies to minimize costs and mitigate customer impact. This course, authored by Cornell University Professor Sheryl E. Kimes, will help you create a group forecast and explore yieldable and non-yieldable business and incremental group costs and revenue opportunities. Finally, you will employ models to calculate displacement costs and contribution margins to determine which customer groups will return the most profit. This course includes: Four self-check quizzes Two discussions Two tools to download and use on the job Three Ask the Expert interactives One activity Two action plans to apply what you learn One video transcript file The courses Introduction to Hotel Revenue Management and Pricing Strategy and Distribution Channels in Hotel Revenue Management are required to be completed prior to starting this course.
eCornell SHA535Non-Traditional Applications of Hotel Revenue Management0
Any business that has relatively fixed capacity, perishable inventory, and time-variable demand can increase revenue using revenue management not just hotels. This course, authored by Cornell University's Professor Sheryl E. Kimes, reviews the basics of revenue management and outlines the application of revenue management principles to other businesses, both inside the hotel and beyond, such as spas, restaurants, and golf courses. Through your work on the course project, you will reinforce what you have learned about the refinement and extension of revenue management practices and will develop notes and recommendations for implementing and extending revenue management at the organization where you work. This course includes: One self-check quiz Two discussions One tool to download and use on the job Three Ask the Expert interactives One scored project in multiple parts One video transcript file These courses are required to be completed prior to starting this course: Introduction to Hotel Revenue Management Pricing Strategy and Distribution Channels in Hotel Revenue Management Overbooking Practices in Hotel Revenue Management"
eCornell SHA551Fundamentals of Hospitality Strategy0
Why are some companies successful, while so many other businesses fail? Some organizations may just be lucky, but success based solely on luck probably will not last. For an organization to have sustained success, it must stay competitive in the market; it simply cannot survive without effectively differentiating itself from its competitors. What sets your organization apart from your adversaries? A winning strategy will enable you to take on the market, maximize performance, and boost profitability. In this course, you will work through key activities in the strategy formulation process. First, you will investigate what a good strategy is, how to think like a strategist, and how to identify the foundations of your firm's strategies. You will then analyze the broad and operating environments. A broad environmental analysis forms the context in which the firm and its operating environment exist, as stakeholders also have the potential to exert influence over strategy formulation. Crafting a successful strategy includes the consideration of your organization's internal environment to determine what resources, capabilities, and strengths can be leveraged or developed to form future strategies. Organizations work to create advantage through the development of resources and capabilities. Toward the end of your learning experience, you'll have an opportunity to identify patterns that exist between your internal and external factors, and you will devise possible strategies.
Formulating an effective strategy requires that an organization ask the right questions and then answer them thoughtfully and thoroughly. This course raises and helps you answer some of the most critical interrelated questions, such as: How does my company choose the right strategies to define where and how we will compete? What is my firm's vision and mission? How does my firm create value? You will begin by exploring the importance of direction setting in the strategy formulation process. You will then examine general business-level strategies focused on creating value, such as cost advantage and differentiation, by answering how your firm competes at the level of the hotel or business unit. In addition, you will examine corporate strategies like diversification, concentration, and vertical integration, which help organizations answer the question of where to compete in related and unrelated industries. Given that no two strategies are alike, you will classify both business and corporate strategies into common strategic characteristics to help you better identify your own organization's competitive positioning, as well as those of the competitors. What's more, you will explore the structure of an industry as the definition of industries and the competitive playing field continue to evolve and change. It is recommended to only take this course if you have completed "Fundamentals of Hospitality Strategy" or have equivalent experience.
You've worked tirelessly to create an effective strategy that takes into account your organization's mission and vision and any related risk factors, as well as the competitive landscape in which you operate. Now what? Implementation is the crucial next step in this process, but there can be many pitfalls along the way. This course will provide you with the tools to recognize why strategic implementation can fail; how you can create an organizational structure and culture that will support and fit with your overarching strategic goals; and how to establish systems, measures, and incentives to effectively implement your strategy. You will complete this course with an action plan in hand that will enable you to confidently lead the implementation of your strategy in your organization. It is recommended to only take this course if you have completed "Fundamentals of Hospitality Strategy" and "Formulating Hospitality Strategy," or have equivalent experience.
eCornell SHA571Understanding and Visualizing Data0
Important business decisions require justification, and while we often have data that can help us make those decisions, the skill with which we analyze the data can make the difference between a good and bad outcome. This course, developed by Professor Chris Anderson, is designed to move learners beyond making decisions focused solely on averages. In this course, you will develop a working familiarity with the grounding principles of data analysis. You will learn to derive the greatest benefit possible from the data available to you while ensuring that the conclusions you draw remain valid. You will apply a decision-making framework within which you'll interact with the data to achieve the best outcome. This course includes valuable tools and help sheets for data handlers along with the insight and perspective you need as a data consumer. While this course is not a replacement for a full-length statistics course, you will have a basic grounding in many statistics concepts by the time the course is over. You should be able to complete this course without any prior knowledge of statistics. Project Management Institute (PMI ) Continuing Certification : Participants who successfully complete this course will receive 6 Professional Development Units (PDUs) from PMI . Please contact PMI for details about professional project management certification or recertification. PMI is a registered mark of the Project Management Institute, Inc.
Summary statistics are one way to forecast uncertain outcomes, and the statistical results can be used to make decisions or guide strategy. Since summary statistics are based on a data sample, they typically inform intuitive decision-making. That is, the model requires interpretation which relies on the business intuition of the person using it. You'll learn how to examine sample data scientifically to limit any generalizations to only the patterns that have the strongest statistical support. As always, intuition and business knowledge play an important role in the process, but this course will prepare you to apply a level of scientific rigor that will lead to better results. The course Understanding and Visualizing Data is required to be completed prior to starting this course.
The sheer variety of sources and types of data that can aid in decision making are almost overwhelming. The key to making good use of the data lies in knowing what specifically to pay attention to, understanding the relationships and variables among the data, and making the right connections. Experience is essential to knowing and making educated guesses about what to pay attention to. Familiarity with statistical methods will provide you with a significant advantage over relying on gut instinct alone. In this course you will learn to identify uncertainty in a business decision, and to choose variables that help reduce uncertainty. By the end of this course, you will have a robust decision model that you can use to make predictions related to your decision. Along the way, you will clarify and enhance your understanding of the factors that influence possible outcomes from the decision. The course Understanding and Visualizing Data is required to be completed prior to starting this course.
Decision making is never as simple as we would like it to be, since rarely does a single factor alone predict an outcome. In a competitive business environment, not taking this uncertainty into account has serious costs. In this course, you'll use foundations in probability to describe risk mathematically and incorporate those calculations into your decisions so you can take them to the next level. Working through increasingly complex modeling situations, you will learn to use estimates of probable future outcomes for Go/No-Go decisions and to run a Monte Carlo simulation allowing you to examine outcomes that vary based on multiple, interdependent decisions. The courses Understanding and Visualizing Data, Implementing Scientific Decision Making, and Using Predictive Data Analysis are required to be completed prior to starting this course.
eCornell SHA575Optimization and Modeling Simultaneous Decisions0
In business, we don't often have the luxury of making one decision at a time; instead, we usually face multiple decisions at once, in highly complex situations where each decision has potentially far-reaching impacts. In this environment, professionals need a robust, quantifiable understanding of these ripple effects in order to meet business objectives and raise the odds of decision-making success. In this course, you will create and use data models for optimizing decision making in situations where resources are constrained and two or more decisions whose consequences interact must be made simultaneously. These courses are required to be completed prior to starting this course: Understanding and Visualizing Data Implementing Scientific Decision Making Using Predictive Data Analysis Modeling Uncertainty and Risk
Data modeling has become a pervasive need in today's business environment. Often the volume of data you need to process goes beyond the capabilities of spreadsheet modeling. When this is the case, the statistical programming language R offers a powerful alternative. With R, you can avoid the cost of standalone statistical packages. Likewise, you don't need a huge investment in learning the structures required to use a more fully featured programming language. In this course, you will work through the basic methods of predictive analytics, including generating descriptives, visualization, single and multiple regression, and logistic regression. The benefits of using R for logistic regression are significant, and these are explored in detail. When you have completed this course, you will have gained experience developing R code to solve novel problems in which basic predictive methods are required.
eCornell SHA577Clustering, Classification, and Machine Learning in R0
When faced with a large volume of unstructured data, the question quickly arises: what does this all mean? Techniques in machine learning offer the promise of a meaningful answer to that question. Unsupervised machine learning is a powerful tool that is being put to use in many disciplines. In this course, you'll experience machine learning through scripting in the statistical programming language R. The course focuses on using unsupervised machine learning to bring coherence to unstructured data. Specifically, you'll use different methods to generate clusters within your data set when no dependent variable is specified. Using supervised machine learning approaches, you'll build and evaluate models that allow you to classify your data and understand the marginal impacts of each attribute. And you'll gain experience with powerful tools in R that allow you to efficiently evaluate competing models to find the one that gives you the most accurate results.
Sometimes the problem you need to solve involves amounts of data or numbers of decisions that go well beyond the capabilities of spreadsheets. You can work around these limitations by replicating spreadsheet methods of simulation and optimization in the script-based programming environment in R. The use of R carries the benefits of flexibility, automation, and expanded set of tools and algorithms. In this course, you will work through the development and implementation of Monte Carlo simulations. You'll become familiar with the R functions most commonly used for this purpose. You'll also translate optimization problems that have been defined outside R to a form that supports computational solutions in R. You'll work with both linear and nonlinear solution methods. It is recommended that students have a background in data analytics especially with optimization, modeling, and monte carlo simulations, in addition to a familiarity with programming syntax.
eCornell SHA581Introduction to Commercial Real Estate Development0
Successful commercial real estate developers are master coordinators, working with multiple counterparts every step of the way to create and maximize value through real estate projects. To do this, they use a thoughtful, organized process regardless of project size. This course offers a deep dive into the crucial early stages of that process. Using analytical tools and case studies, you will learn how to align your development vision and subsequent decisions with industry cycles, municipal objectives and regulations, market and site characteristics, and projected financial feasibility.
eCornell SHA582Managing Real Estate Development Projects0
Real estate development projects have many moving pieces; the project manager guides and aligns resources to bring those pieces together into a coherent, financially successful whole. To develop critical project management skills, you will work through a case study and learn how to think like a project manager with guidance from Brad Wellstead, experienced former real estate development project manager and Cornell University faculty member. The practical tools and techniques you learn will allow you to confidently create a project schedule, set a realistic budget, and effectively manage resources, risks, and people.
Real estate investment has a long history, going back well before the advent of the stock market. But unlike investing in stocks, real estate usually requires the use of leverage: a property is acquired with a percentage of equity, the rest financed with debt. To make that risk pay off, investors must have a clear strategy, know whether investments will be profitable, and understand how best to raise capital. In this course, Jan A. deRoos, professor at the Cornell SC Johnson College of Business, uses real-world examples and practical tools to teach these critical components of profitable real estate investment.
Real estate investment is a popular way to accumulate wealth, but you don't have to be rich to get started. That's because there are many ways to finance real estate investments to raise the equity you need and structure debt beneficially. In this course, you will explore both sides of the financing equation to understand what equity and debt partners want, how to structure financing for a high likelihood of approval and rate of return, and how to perform analyses that are critical to success. Not only will these analyses upgrade your skills, the sophisticated spreadsheet tools you use can be applied immediately to real-life opportunities. The course Real Estate Investment Decisions is required to be completed prior to starting this course.
Investing in proper management of a real estate asset is investing in future profitability. Excellent maintenance and tenant management can increase property values by lowering operational costs, increasing cash flow, and generating higher rents and occupancies. In this course, you will learn leadership traits and strategies for effective facilities management, best practices in critical areas like waste removal and reducing environmental impact, and how to manage overlapping maintenance activities and make outsourcing decisions. If leasing building space is critical to your operation, this course also will prepare you to analyze your property and the market to make sound leasing decisions.
As real estate asset manager, you are steward of an owner's property, responsible for managing it to help achieve the owner's goals and increase its value. To guide you in this challenging role, you need a comprehensive road map for decision making: the Asset Management Strategic Plan. This course focuses on teaching you how to build this strategic plan and on developing your understanding of the asset manager role, its activities, and different management approaches. Beyond best practices and expert insights, this course also provides you with ample opportunities to practice new skills and an applied toolkit for real-world real estate asset management.
eCornell SHA591Fostering a Culture of Service Excellence0
In this course, you will distinguish between the various components of a service culture and assess your current service environment. Using a case-based approach, this course will illustrate the importance of developing a strong service culture. You will reaffirm the importance of communicating a clear vision to both internal and external customers and share vision statements for your ideal service culture that reflect your organization's key values. Finally, you will identify workplace challenges and formulate an action plan to close gaps between specific components of your current and ideal service cultures.
eCornell SHA592Developing Service Excellence Competencies0
In this course, you will identify the responsibilities of a service champion and the personal characteristics that contribute to effectiveness. The key skills required to assess, guide, and motivate service employees' performance are presented. You will practice the competencies required for engaging your colleagues in creating a strong service culture. Self-assessments and tools provide you with direction in developing several of these skills to evaluate your leadership traits, such as your credibility and expression of empathy. A review of communication channels and characteristics enables you to select the most appropriate method of communicating service standards. A final project provides an opportunity for you to apply course concepts to your own organization to facilitate a strong service culture. What's a "service champion"? What do we mean by a "strong service culture"? In this course, you will identify what great customer service teams do so that you can practice and model the same skills, helping your team move from good to great. Throughout this course you will practice modeling empathy, communication, curious discovery, and empowering others. This practice will give you the ability to empower others and empower your team to deliver excellent service that can be sustained over time.
In this course, you are introduced to the principles of Servant Leadership and the importance of fostering an ethical service culture. Servant Leaders communicate ethical standards and facilitate a supportive and respectful service culture that contributes to employee empowerment. A number of cases are provided to highlight leadership challenges and approaches. Servant Leaders are distinguished by their focus on listening skills, and you will assess and develop your listening behavior using Professor Brownell's HURIER listening model, which addresses six interrelated components: Hearing, Understanding, Remembering, Interpreting, Evaluating and Responding. The development of a strong listening environment also facilitates service within your organization. Finally, you will examine your current environment to identify opportunities to strengthen relationships and enhance the service experience of your organization.
eCornell SHA594Delivering an Excellent Customer Experience for Your Organization0
In this course, you will focus on the key organizational processes that support the development of a strong service culture and exceptional customer service. You will be provided with a number of tools that enable you to select employees who have a strong service orientation and who will be a good fit with organizational values. The processes of orientation and socialization are examined as two powerful means of communicating service standards. You will then examine the benefits of a team-centered, collaborative culture and discuss strategies to facilitate and reward team performance. You will discuss organizational citizenship behavior using specific practices that support continuous on-the-job "training that sticks." You will wrap up the course by designing an orientation program for new service employees that takes into consideration service-focused principles and practices.
eCornell SHA595Developing a Culture of Empowerment0
In this course, you will begin by focusing on service intangibles and consider the power of both customer perceptions and experience management in delivering exceptional service. The impact of sharing service stories and the benefits of fostering creative approaches to addressing service challenges are emphasized as participants consider how to facilitate a strong culture of service excellence. Providing phenomenal service requires empowered employees, and along with your fellow students, you will discuss methods of preparing employees to solve problems, make decisions, and address issues of service recovery. Then, you will consider how to best facilitate performance management practices including coaching and mentoring. A compassionate workplace fosters increased satisfaction and productivity, and the course concludes with suggestions for focusing on service employees' health and care.
eCornell SHA601Utilizing Income Statements and Operational Data0
Amid the swirl of activity in food and beverage service, financial management is a function that loses priority sometimes, despite its crucial function. Understanding and managing your food and beverage operation's income statement (profit and loss statement) can lead to better decision making and can position you to succeed. Learn how to get a hold on your organization's finances and make informed decisions based on profit and performance.
eCornell SHA602Optimizing Your Food and Beverage Menu0
Your menu does much more than inform guests about what you offer. It helps to create and communicate your food and beverage operation's identity, and influences your guests' choices. This course will enable you to evaluate menus and identify changes that will optimize the value and profitability of your food and beverage operation.
eCornell SHA603Managing Your Food and Beverage Supply Chain0
Your operation's brand is like a contract with the customer, and the expectation is that value will be delivered in relative accordance with price and quality of service. But keeping food costs down is no easy task. In fact, it's one of the most detail-oriented, scientific processes that go into running a restaurant and there are many challenges with keeping food costs controlled. In this course, you'll learn to optimize your operation's profits by effectively managing your selection, procurement, receiving, storage, and inventory management processes.
Loyal repeat customers are key to the success of any food and beverage operation. They represent recurring revenue and are a great source for feedback and gauging customer sentiment. They can also be your greatest evangelists, recommending you to friends and colleagues, even giving favorable online reviews. Through careful design, meticulous attention to service processes, and a way to gauge customer sentiment, you can play to your team's strengths and identify opportunities for improving the guest experience to grow your business.
eCornell SHA605Leading Your Team to Optimize Results0
Your employees are the heart of every food and beverage operation and your most valuable resource, yet so many operators fail to focus attention on employee satisfaction and engagement. Understanding your role in managing and leading employees can help you to reduce costly turnover, safety incidents, theft, and absenteeism, and can improve your operation's quality, productivity, guest satisfaction, and profitability.
eCornell SHA606Operating a Profitable and Responsible Beverage Program0
Whether you are a restaurant, coffee house, even a cocktail bar, your beverage program can have a big impact on your profitability, but it comes with a good deal of risk. Understanding everything that is involved in offering wine, beer, spirits, and nonalcoholic beverages and applying discipline to your product selection, pricing, list design, and rigorous controls can minimize certain risks and position you for financial success.
In this course, you will explore the challenges and opportunities that come with opening a food and beverage establishment. You will review a case study describing an existing food and beverage operation and explore the steps involved in creating a business plan and then work towards creating a business plan for your own food and beverage operation. You will also examine strategies for determining if your business idea will be successful in the market.
In this course, you will explore how catering and special events are different from other food and beverage businesses and examine recommended strategies for effectively communicating with your clients. Next, you will explore the economics of catering and special events and develop strategies for pricing these events. You will continue with an overview of the complex array of partners you will need to work with and explore how those partners will help you create a successful event. Finally, you will develop best practices for creating a plan (menu, etc.) for your event.
eCornell SHA611Financial Analysis of Hotel Investments0
Investing in hotel real estate is a complicated and rewarding endeavor. To be successful, hotel investors must be able to determine the financial interests of those involved in any project. In this course, Professor deRoos demonstrates several analytical tools used by real estate professionals to evaluate hotel investments. You will explore how owners, operators, and lenders evaluate potential hotel projects. Using an Excel-based tool, you will estimate the return on investment and return on equity for a hotel investment. Debt and equity financing are critical to every project and in this course, you will learn how to estimate the size of a mortgage loan given the lender's requirements. With real-world examples, practical tools, and opportunities to practice, you will develop the skills necessary to structure your own hotel real estate investments.
The control and management of hotel real estate is a complex process with a wide variety of options for both hotel owners and companies. Determining who manages the hotel on a day-to-day basis and whether or not the hotel should affiliate with a brand can make or break your property. Based on his many years of academic and real-world experience, Professor deRoos provides you with the tools and knowledge you need to navigate the options and make sound decisions for your hotel investment. In this course, you will examine the most prevalent ownership structures in the industry and determine how these structures impact costs, benefits, and risk for both the owner and the hotel company. To evaluate decisions about affiliating with a brand, you will use an Excel-based tool to calculate the costs and benefits of converting an independent hotel to a franchise. Finally, you will examine the most commonly used control mechanism in the industry, the Hotel Management Agreement. The course Financial Analysis of Hotel Investments is required to be completed prior to starting this course.
eCornell SHA613Developing an Asset Management Strategy0
The hotel asset manager is responsible for managing lodging investments to meet specific objectives. Their role in building value is analyzed at both the portfolio and the property level. In this course, Professor deRoos focuses on the importance of developing a strategic vision for asset management and explores the latest asset management techniques in pursuit of that strategic vision. During this course, you will examine the role of the asset manager in real estate portfolio management and learn how to develop a strategic vision. You will also learn how to create an asset management plan designed to meet long-term financial goals, create forecasts, and build models that analyze sell versus hold alternatives and make optimal recommendations consistent with the asset management strategy and plan. The courses Financial Analysis of Hotel Investments and Control of Hotel Real Estate are required to be completed prior to starting this course.
eCornell SHA614Achieving Hotel Asset Management Objectives0
Ultimately, the goal of an asset manager is to strategically oversee hotel operations to meet the hotel owner's investment objectives. To help you meet that goal, Cornell University professor Jan deRoos introduces the latest asset management techniques and provides a set of five practical tools that both owners and asset managers can use to achieve their strategic objectives. In this course, you examine the various negotiation tactics and conflict resolution approaches that you can use to help when issues arise between owners and the hotel manager. You will examine capital expenditure planning and benchmarking, which can enable you to strategically increase hotel performance and its overall long-term value. Finally, you'll learn how to manage and analyze risk appropriately, in order to make refinancing decisions that use debt creatively. Once you've completed this course, with its in-depth case studies and step-by-step guidance, you will be equipped with the asset manager's toolkit, ready to tackle the challenges of this dynamic role. The courses Financial Analysis of Hotel Investments, Control of Hotel Real Estate, and Developing an Asset Management Strategy are required to be completed prior to starting this course.
eCornell SHA615Valuing Hotel Investments Through Effective Forecasting0
For a hotel investment to be successful, you must first have accurate and reliable data about the critical aspects of the hotel operation, such as occupancy, revenue, expenses, and cash flows. But how do you generate these detailed forecasts? In this course, Cornell University professor Jan deRoos leads you through this analysis using the Hotel Valuation Software he developed with HVS International. Starting with the market study, you will forecast hotel occupancies for new properties and for existing properties and calculate average daily rates using a variety of cutting-edge techniques. Using the occupancy data, you will then forecast hotel cash flows, respecting the fixed and variable revenue and cost structure of a hotel. At the end of this course, you'll estimate of the market value of the hotel, a critical component of any sound investment decision. Given that forecasts are only as accurate as the starting assumptions, you'll learn how to develop data to support your forecasts. With step-by-step guidance and sophisticated software tools, you will walk away from this course with the skills necessary to conduct detailed forecasts and valuations for any hotel property. These courses are required to be completed prior to starting this course: Financial Analysis of Hotel Investments Control of Hotel Real Estate Developing an Asset Management Strategy Achieving Hotel Asset Management Objectives
eCornell SHA616Valuing Hotel Intellectual Property and Structuring the Capital Stack0
Accurately assessing the value of hotel intellectual property is critical when structuring the most advantageous deal. This course is designed to help you develop a high level of financial sophistication so you can properly assess hotel management agreements and franchise agreements, as well as assign value to the real assets. Professor Jan deRoos will guide you through the valuation of management agreements as well as franchise agreements using Excel-based spreadsheet tools. You will examine how debt and equity capital markets are used to financially engineer enhancements in the value of the real estate. To make sound financing decisions, you will calculate the costs of many of the commonly used mortgage loan features. Finally, you will explore how private equity sponsors design cash flow distribution mechanisms to align incentives and to achieve high returns. This course emphasizes the role of debt capital in creating value for equity and the role of public and private equity in modern real estate capital markets. Throughout the course, you will use sophisticated spreadsheet tools to support and quantify the analyses, all of which can be used to analyze real-life opportunities. These courses are required to be completed prior to starting this course: Financial Analysis of Hotel Investments Control of Hotel Real Estate Developing an Asset Management Strategy Achieving Hotel Asset Management Objectives Valuing Hotel Investments Through Effective Forecasting
Before developers and designers can successfully design a full-service hotel, they must have a strong grounding in foundational concepts relevant to the hospitality industry. These include market segmentation, hotel types and classifications, hotel branding, and the players involved in a typical hotel project. This course prepares participants for further studies in the specifics of hotel planning by considering how market needs drive the design process, how the "chain scale" system works, how branding decisions affect the planning process, and how successful hotel projects are coordinated. With extensive experience as a lecturer, researcher, and consultant, Professor Stephani Robson brings hotel planning to life with a wealth of content backed by activities designed to help you embrace and apply these concepts to your next project.
An important aspect of hotel design is the early planning decisions that owners, developers, and designers must make. These include addressing the needs and opportunities of the target market prior to the detailed design of specific parts of a hotel. This course will prepare participants to contribute effectively to initial decisions relating to full-service hotel planning, helping to ensure that later design decisions will take into account the target customer, the lodging product to be provided, and the associated allocation of space. Professor Stephani Robson, an expert in hotel planning and design, brings this phase of hotel planning to life with a wealth of content backed by activities designed to help you apply these concepts in practical ways. The courses Foundations of Hotel Planning and Hotel Planning Decisions are required to be completed prior to starting this course.
Hotel guests base much of their view of a hotel on the design and layout of their guestrooms. To ensure success in a full-service hotel project, developers, designers, and other stakeholders must ensure that floor plans and guestroom designs will meet or exceed the expectations of their target guests. This course walks participants through the process of developing an appropriate room mix, floor plans, and guestroom designs that will please guests while also returning value for owners or investors. The focus is on design considerations relevant to guestrooms and related areas, not the actual drafting of architectural plans. Cornell Professor Stephani Robson has many years of experience as a designer, lecturer, and author, and shares her expertise through videos, activities, and tools that will help you apply these concepts to your own situation. The courses Foundations of Hotel Planning and Hotel Planning Decisions are required to be completed prior to starting this course.
The meeting rooms, food and beverage areas, and other public spaces in full-service hotels can be important revenue generators while also attracting new guests and maintaining their loyalty. Hotel planners and designers must carefully consider the needs of their target market and develop public spaces that address those needs. This course prepares architects, designers, and other project stakeholders to develop planning criteria and come up with appropriate designs for public spaces, from lobbies to meeting rooms, restaurants, and recreational facilities. Cornell Professor Stephani Robson shares her expertise and enthusiasm for these topics through videos, activities, and tools that will help you apply these concepts to your next project. The courses Foundations of Hotel Planning, Hotel Planning Decisions, Hotel Guestroom Design, and Hotel Public Space Design are required to be completed prior to starting this course.
Guests may not see much of the "back-of-house" areas of a hotel, but the functions these areas serve are critical in full-service hotels. The rooms division must clean and support guestrooms; the kitchen and wait staff must prepare and serve fine food and beverages; the front office and administration staff must extend hospitality to guests and keep reservation and operational processes running smoothly. This course takes participants behind the scenes to consider the unique needs of back-of-house areas, discussing a range of principles that will help ensure effective planning for these important functions. From her wealth of experience as a hotel designer, lecturer, and author, Professor Stephani Robson guides you through a range of videos, activities, and tools that will help you apply best practices to back-of-house design. The courses Foundations of Hotel Planning, Hotel Planning Decisions, Hotel Guestroom Design, and Hotel Public Space Design are required to be completed prior to starting this course.
eCornell SHA631Discrimination Law in the Hospitality Industry0
Discrimination is a topic often discussed yet, unfortunately, often misunderstood. It is common to hear that employment practices are unfair. While this may be the case, fairness and the law are not one and the same. Discrimination law defines specific protected classes and the obligations that employers face in accommodating these protected classes. In this course, you will begin to analyze and determine discriminatory acts through the lens of burden of proof, according to the law. You will explore the seven protected classes and how certain policies and practices your organization implements can lead to liability and damages. Understanding the legal concepts in accordance with your roles and responsibilities will enhance your decision-making and response with regard to discrimination. Ultimately, a careful examination of federal, state, and local discrimination laws, as well as your HR policies and actions, may help you better manage and prevent discriminatory behavior in your organization. This course does not assume any legal knowledge or accreditation on your part. Rather, it serves as an educational framework for managing. None of this content should be taken as legal advice. For legal guidance, please consult your own attorney or legal department.
eCornell SHA641Real Estate Interests and Entities0
In real estate, a few simple words in a contract or on a deed can have a huge downstream effect. Before you decide to purchase real estate, it is therefore important to consider key issues around ownership, incorporation, and co-ownership agreements. In this course, you will explore and apply key concepts that will help you successfully navigate the real estate landscape from both personal and professional perspectives. You will begin by examining how to identify and assess real estate ownership relationships, rights, and issues. You will then consider how incorporation and other important legal protections can safeguard your financial and ownership interests as well as those of your partners and heirs. Having a working knowledge of the key issues involved with owning and investing in real estate will help you assess the pros and cons of real estate ownership and help prepare you for your real estate journey. Note: The information in this course focuses on U.S. real estate law; it is intended for educational purposes and to assist you to interact effectively with your own legal counsel. The information presented may not work for your specific situation. It is not legal advice, and taking this course does not place you in an attorney-client relationship. Always consult your attorney for guidance on legal issues.
Real estate transactions and the contracts that summarize them can be complex. There are many players and stakeholders who must perform as well as any number of terms and contingencies that must be satisfied in order for an agreement to be finalized and a property to change hands. In this course, you will examine the elements of real estate contracts in order to gain a deeper understanding of the contract life cycle, the parties involved, and the common terms and conditions associated with both residential and commercial transactions. Throughout, you will evaluate sample real estate transactions and situations in order to determine what might happen if one or more of the contractual contingencies is not fulfilled by one of the parties. You will also explore the relationship between a real estate purchaser and future owner and their attorney so that you can be better prepared to hire and interact with legal counsel when you are ready to purchase a property for personal or commercial use. By examining the key players, terms, and conditions, you will be better equipped to discuss and negotiate residential and commercial real estate transactions.
Title and deed are two common and interrelated real estate terms that are important to discern. Title transfers are commonly recorded with a deed, which is a legal document that chronicles the change in ownership from one party to another. Yet titles and the deeds that record them are not all the same. As a party in a real estate transaction, it is important to recognize how the marketability of title can affect ownership and to be able to interpret the implications of deed types as well as what protections, promises, and potential risks they include. In this course, you will delve into the concept of marketable title, identify and evaluate common title issues, and suggest title curatives. You will also examine the different types of deeds and identify their implications and risks to determine when certain types of deeds are appropriate to use and when they should not be. You will then explore recording laws and apply common law principles to determine who would be awarded title based on jurisdiction. After successful completion of this course, you will have gained a working knowledge of deed types, common real estate title issues, and their curatives.
Real estate is expensive. Financing transactions usually involves borrowing from lenders and other investors, and obtaining financing is rarely simple. Once financing has been secured, it means that multiple parties have a financial interest in the property. And if agreements aren't adhered to, these interests can become claims against the property. There are also legal ways parties can declare interest in a property. When properly filed, courts, mechanics, and lenders can claim a lien against a property to record an unsatisfied debt. When an owner sells the property or if they fail to meet their financial obligations, the property can be foreclosed to satisfy the debt. The ensuing process can be complicated and emotionally taxing. In this course, you will analyze the residential and commercial mortgage lending processes. Along the way, you will examine loan terms, such as underwriting, commitment, and promissory note, and assess the role they play in the process. You will also consider the essential responsibilities of the borrower and the lender. You will then explore different types of liens and the critical concept of lien priority in real estate, along with the resulting effects on owners, lenders, and investors. Based on these concepts, you will evaluate the foreclosure process and assess how debts are settled when foreclosure occurs. Through successful completion of this course, you will gain the ability to navigate and communicate about the mortgage process, lien priority, and the foreclosure process.
eCornell SHA645Legal Principles of Commercial Leasing0
Whether you are a tenant or a landlord, understanding and navigating commercial lease agreements is critically important. Language matters: Ambiguous terms, complicated conditions, and standard boilerplate can be the difference between successful lease agreements and long, costly disputes. In this course, you will examine and identify the elements of commercial leases. You will then analyze common lease language and explore the tension points, critical terms, and features of a commercial lease. Throughout, you will evaluate lease provisions and make suggestions to clarify and improve lease language. After taking this course, you will be better prepared to assess and negotiate favorable lease terms.
eCornell SHA646Navigating the Entitlements Process0
In real estate development, entitlement is the legal process where an owner or developer obtains governmental approval for their project. As seasoned developers and investors know, successfully navigating the entitlements process is a critical milestone for every development project. Even if a development project plan appears to meet all criteria, it does not guarantee approval and without approval, there is no project. Getting through the entitlements process can be complicated as approval can depend on any number of factors. Therefore, it is critical to identify potential challenges and risks then take the necessary steps to mitigate them. In this course, you will analyze the entitlements process, consider factors such as variances and permits, and make suggestions to mitigate risks and resolve common entitlement challenges. You will also design a subdivision strategy with the goal of anticipating entitlement risks and challenges. Finally, you will attempt to tackle common disputes and legal challenges that can arise during the entitlements process. After successful completion of this course, you will have practiced critical skills that will help you navigate the entitlements process.
Interested in expanding your knowledge of wines? Whether you're an industry professional or simply a wine enthusiast, this hands-on course takes you on a journey through the winemaking process, from grape to glass. Learning from world-renowned industry experts from Cornell, you will learn to successfully identify the components of wine and how they affect perceptions before exploring your personal palate and conducting sensory evaluation, using sight, smell, taste, and touch. You will explore various wine growing techniques and analyze how geography and climate impact the grape. Finally, you will identify the correct service and storage approaches to use based on the type and style of wine. This program is intended for use by persons of legal drinking ages under the relevant applicable laws where they reside. Students will need to purchase wine, sugar, and other items commonly found in grocery stores to participate in tasting exercises.
eCornell SHA682Foundations of California, the Pacific Northwest, and New York Wines0
This course will break down the four biggest growing and producing regions in the United States: California, Washington, Oregon, and New York. Each state has its own unique history, landscape and laws. You will explore the history of each region, as well as analyze the unique geographic features of each state and how they impact the wine. You will also read and interpret wine labels to better select wines from each region.
eCornell SHA683Experiencing Wines of California, the Pacific Northwest, and New York0
In this course, your United States wine journey will culminate with a wine tasting experience. You will select and compare wines from different areas of the United States, while exploring how the wine market is set up and how to choose the right foods for your wines. Then you will prepare for a casual, at-home wine tasting, analyzing how different people interpret different wines, how wines differ from each other, and comparing your expectations vs perceptions.
This course will guide you in exploring eight important wine regions of France: Alsace, Bordeaux, Burgundy, Champagne, Loire Valley, Rh ne Valley, Languedoc-Roussillon, and Provence. You will start with an overview of the French wine laws and classification system, then you will begin your study of each region. Within each region, you will consider its unique history with winemaking, how the climate affects grape growing and winemaking, the grape varietals and wine styles most associated with that region, and its unique classification system and labeling requirements, You will finish your course by selecting a winery from four of the regions and researching them, along with a specific wine from each, to summarize how these varied aspects of wine production climate, viticulture, winemaking practices, and classifications work together to produce the great French wines that are known and respected worldwide. It is recommended to only take this course if you have completed "Wine Essentials" or have equivalent experience.
In this course, your journey with French wines culminates with a wine-tasting experience. You will select and compare two to six wines from the eight wine regions we studied. In addition to reviewing important wine label terms, you will explore how the French wine market works and the factors affecting wine prices. You will then prepare for a casual, at-home wine tasting, which includes selecting wines to share and determining appropriate food pairings. During your event, you will observe how different people interpret different wines. You will also consider the ways in which the wines are distinct from each other and compare your expectations to your experiences as well as the experiences of your guests. It is recommended to only take this course if you have completed "Wine Essentials" and "Foundations of French Wines" or have equivalent experience. Important: Alternatives can be made for those who do not drink alcohol, who are in areas where alcohol purchases or consumption are not allowed, or who are in circumstances where in-person gatherings are either not allowed or not recommended.
Taken as a whole, Italian wines are dynamic and offer a wide variety within the different growing regions of the country. In this course, you will explore the history of viticulture and winemaking in Italy and analyze the unique geographic features of the regions and how they impact the various wines. You will also read and interpret wine labels to select wines to meet a desired experience. "Wine Essentials" is required to be completed prior to starting this course.
It is wonderful to learn and study wines, but your journey is best completed once you experience the wines. In this course, you will consider the wine-producing regions located within the four geographic zones of Italy and select two to four wines to share in a wine event. You will be guided through the process of selecting, sharing, and obtaining others' opinions about the wines you choose. You will deepen your understanding of Italian wines and hopefully be encouraged to continue learning. Because each part of the course project must be completed in order, we recommend you review all the project pages before you start the course to plan your time accordingly. "Wine Essentials" is required to be completed prior to starting this course.
eCornell SHA688Foundations of Spanish and Portuguese Wines0
In this course, you will explore the history of viticulture and winemaking in Spain and Portugal. By analyzing the unique geographic features within the countries, you will gain insights into the many factors that impact which grape varieties are grown and the characteristics of the wines produced. You will also consider the many styles of wines from these countries and prepare to read and interpret wine labels to select wines to meet a desired experience, sparking discussion and engagement for you and your guests. The following course is required to be completed before taking this course: Wine Essentials
eCornell SHA689Experiencing Wines of Spain and Portugal0
This course may not physically take you to Spain or Portugal, but, through the process of selecting, tasting, and sharing wines, your taste buds may believe you've been there. In this course, you will select two to five wines from the countries of Spain and Portugal to share in a wine event. To prepare, you will research the wines and wineries to determine what information to share with your guests. You will then be guided through the process of thoroughly preparing a virtual or in-person wine-sharing event, including how to determine which foods to pair with your wines and which glasses would best showcase your wines, as well as how to obtain others' opinions of the wines. This learning experience is sure to challenge your palate, create conversation, and encourage your study of wines from your region and beyond. Because of the steps required to plan and host your event, we strongly recommend you review the project requirements and plan your time accordingly. The following courses are required to be completed before taking this course: Wine Essentials Foundations of Spanish and Portuguese Wines
eCornell SHA690Real Estate Site Selection Analysis and Decisions0
Choosing the best available building site for your project is the first step in getting a commercial real estate project off the ground. In this course, you will develop a systematic, project-based site selection process. Using a set of building sites, you will evaluate each site's proximity to economic generators, as-of-right zoning, budget, and size fit to quickly and efficiently eliminate sites. You will then analyze the project's target market to assess each property's intrinsic and extrinsic qualities to further verify the project fit. Lastly, you will compare, contrast, and rank each site based on project filters. Ultimately, you'll efficiently and systematically select the best available site for your project.
eCornell SHA691Creating the Real Estate Development Package0
In this course, you will calculate, compile, and organize your project vision, budget estimates, and materials into a single document called the development package. This document will not only help you communicate your project to potential investors, it will also serve as a basis for developing a compelling financial pitch. To create the development package, you will clearly and concisely communicate your project vision and scope, and calculate and finalize your project's feasibility, schedule, and budget. You will also communicate the project team and culture, and address potential project impacts and how you will account for them.
eCornell SHA692Preparing and Delivering the Project Pitch0
Real estate development projects have many moving pieces, involving millions of dollars and teams of individuals. From the initial spark of an idea to opening day, most projects take several years to complete. If you have a clear vision, a strong opportunity, a ready team, and a solid work and budget plan, it is now time to gain the attention and interest of potential investors. In this course, you will prepare a financial pitch for your project. To begin, you will dissect and examine the components of a financial pitch, understand your audience, and analyze industry best practices. Finally, you will refine and compile the project vision, culture, estimates, and data to compose and deliver a compelling, succinct, and effective financial pitch.
eCornell SHA693Creating the Basis of Design for Real Estate Projects0
After gaining the trust of investors, lenders, and municipalities by clearly communicating your project's vision, market opportunity, and feasibility, you must now turn to the nuts and bolts of bringing the project to life. In this course, you will analyze your project's specific market sector's required program needs to create the basis of design, which articulates the project's vision and rationale as well as the physical space and the functional and aesthetic requirements. This deliverable is the foundation for the project teams' choices and decision-making processes as they put your vision into action.
eCornell SHA694Instilling Resiliency in Real Estate Development Projects0
Despite your best planning efforts, additional challenges and opportunities arise during a project's life cycle. The difference between a successful project and an unmitigated disaster is how you assess and address these impacts. In this course, you will learn and apply methods to proactively identify, dissect, and mitigate project impacts while maximizing project opportunities. This will lead to decision-making processes to help you overcome and absorb the unexpected yet inevitable challenges every project faces.
Is the value of your proposed property greater than its cost? Can you confidently forecast revenues for both new and existing properties? The ability to produce accurate estimates of rents, occupancy, and absorption is essential in making real estate investment and financing decisions. In this course, you will explore the process of accurately forecasting real estate occupancy for properties facing significant new competition. You will forecast revenues and expenses using contemporary techniques, including real estate cash flows and benchmarking analysis. Given that forecasts are only as accurate as starting assumptions, you will also investigate how to use data to support your forecasts. By the end of this course, you will have the strong foundation needed to create a successful and rigorous feasibility study and to use your skills to produce accurate, supportable forecasts.
Without well-established rights to acquire, charge rents, and sell real estate, investors will not invest. Legal systems create these rules and institutions that facilitate the efficient identification and transfer of real property rights. So how do you tackle the legal aspects of real estate? In this course, you will explore the various estates in real property, including how property ownership is registered or recorded, how real property interests are transferred, and how ownership can be shared. You will understand the vocabulary of real property rights, identify the limitations on property rights, and examine the major contracts that surround real property transfer. By the end of this course, you will have the knowledge needed to connect financial and property rights, setting you up to increase the value of your property and transform fundamental property rights to your benefit.
No survey of real estate as a financial asset would be complete without a discussion of appraisal. Understanding this critical piece of the process will set you up for success when you make complex decisions. In this course, you will explore the classic triad of real estate valuation methods: the cost approach, the sales comparison approach, and the income approach. The appraiser's task is to produce an estimate of the value of the real estate using each approach then reconcile these values in a final market value estimate. You will not become an appraiser in this course, but you will understand how to use appraisals to make better investment decisions and potentially increase the value of your real estate. Upon completion of this course, you will be able to use appraisals to make better decisions in a variety of areas in real estate. In the field, you will be able to use appraisals to support real estate investment decisions, asset management decisions, disposition decisions, refinancing decisions, and more.
eCornell SHA698Public Real Estate Capital Markets0
Real estate investment trusts (REITs) are becoming an accepted equity structure around the globe, and commercial mortgage-backed securities (CMBS) create liquidity and lower the cost of borrowing for real estate developers and owners. Understanding their vocabulary and importance can set you up for successful, forward-looking strategies in your future projects. In this course, you will consider public real estate structures and their markets with a focus on the practical aspects of public equity (REIT) and public debt (CMBS) structures and markets. You will concentrate on the impact that REIT legislation has on the operation of REITs and how CMBS is designed to manage the risks of default and prepayment. By the end of the course, you will have a deeper understanding of real estate public markets as well as an ability to analyze how real estate performs as a security in the secondary market.
Within the commercial real estate industry, it is vital to develop a deep understanding of an asset's condition as well as the market in which it competes. There are several strategies for optimizing your occupancy and lease rates through an evaluation of the competitive landscape. This critical look at your market environment will enable you to best position your real estate assets in terms of lease structures, leasing trends, term expectations, and much more. This course has been designed to simulate the way in which asset managers, along with those working in leasing departments, gather information and develop a leasing strategy. You will create a leasing strategy to convey the pertinent data about an asset and the market landscape to a particular audience. This course will train your eye to scan a property for key indicators of physical and financial health. Using a variety of downloadable tools, you will determine how to gather data for analysis that will provide insight and inform decision making for every step of the cycle of tenancy.
In commercial real estate, managing the upkeep of the physical asset is critical for multiple reasons, including occupant safety, meeting legal occupancy requirements, functionality of systems, efficiencies of systems, productivity of occupants, maintaining asset value, and more. Successfully optimizing the functionality of a building requires a strategic approach to maintenance activities and equipment selection, as well as continually seeking new technologies, devices, and practices to improve building performance and reduce departmental expenses. In this course, you will access important building management strategies and best practices, professional expert interviews, and exercises that bring various strategies to light. This course has been designed to simulate the way in which asset managers, building managers, and other stakeholders gather, analyze, and use various forms of building maintenance information to make decisions. Throughout this course, you will develop a robust tool kit of skills and resources to deal with property management issues including labor, code, financial management, and renovations. As you build your knowledge and skills in facilities management, you will be able to offer valuable recommendations and ask pertinent questions that will improve any asset's physical functionality and enhance the business's financial performance.
eCornell SHA702Building Systems, Engineering, and Equipment Management0
Buildings rely on a variety of systems interacting to successfully support occupant safety and comfort. In managing an asset, it is important to have an understanding of all mechanical systems along with the ways in which they depend on one another. This knowledge becomes pivotal when ensuring code compliance, troubleshooting systems issues, or planning for improvements. In this course, you will explore the common issues, consequences, and solutions for the maintenance of building systems, including the building envelope (facade, windows, and doors), water, electricity, lighting, and heating/ ventilating/air conditioning (HVAC) systems. Once you have a handle on how these systems work, you will be able to identify areas for improved efficiency, which will, in turn, reduce cost and environmental impact. You will find that improved efficiency relies heavily on the monitoring techniques and preventative maintenance schedules explored in this course.
eCornell SHA703Sustainability in Building Design and Operation0
Large buildings are some of the leading consumers of resources such as raw materials, electricity, and water. They also generate an incredible amount of waste. Customers and potential lessees now expect asset management to be transparent in their deployment of sustainable practices. On the flip side of this expectation, it has never been easier to make, measure, and communicate improvement in the area of sustainable operation. In this course, you will discover the importance of depth, clarity, and transparency when developing a sustainability strategy. You will then determine how to align your everyday efficiency goals with your overall sustainability strategy through environmental policies and practices, as well as the products you choose. Taking it a step further, you will investigate the popular "green" certification standards and the options available for new development projects and existing buildings. You will make on-site observations of a LEED-certified building and explore the criteria making the LEED and Green Globes programs the international benchmarks for green building design and operation. Beyond building design, there are valuable opportunities to empower and encourage your employees and/or residents to adopt sustainable practices by establishing a "green team" within your building or company. This team usually includes individuals passionate about sustainability and preserving the environment, so they will often be happy to help ensure your sustainability goals are met, in turn having a positive effect on waste reduction and, thus, your bottom line.
eCornell SHA705Introduction to Restaurant Revenue Management0
Owning or managing a restaurant is a challenging prospect in today's competitive food service environment. To increase your chances of success, you need a proven system of data-driven tools focused on profits, not just costs. In this course Professor Kimes will guide you through the restaurant revenue management process, providing real-world examples, strategies, and techniques that will help you apply these tools to your own restaurant. You will explore the key inputs of space, time, and price to determine how you make appropriate trade-offs to maximize restaurant revenue. Using spreadsheet tools, you will calculate critical metrics and establish baseline performance levels. Based on these levels, you will identify the most significant challenges and determine which strategies will be most effective in overcoming these issues and optimizing your restaurant's revenue and overall performance.
According to recent research, customers spend only one or two minutes reviewing a restaurant's menu. This provides you with just a small window of opportunity to capture your customers' attention and help them find just what they are looking for. In this course, Professor Sheryl Kimes will present you with proven strategies and techniques that can help you optimize your menu and increase the revenue it generates for your restaurant. Through the process of menu engineering, you will explore a unique approach to categorizing menu items based on profitability and sales volume. Using this categorization, you can implement a variety of strategies to increase the overall profitability of your menu. You will also explore several effective menu design techniques that will help you improve how you name and describe menu items and organize and highlight them to showcase your most profitable, best-selling dishes. Critical to your restaurant revenue management program is your approach to pricing, and you will determine the strategies that make the most sense for your restaurant. You will walk away from this course with a set of practical tools you can use right now to maximize your revenue, whether your restaurant is slow, busy, or somewhere in-between.
eCornell SHA707Optimizing Restaurant Space and Pricing0
When your restaurant is busy, you might think that you can't possibly generate any additional revenue. However, in this course Professor Sheryl Kimes will provide you will a set of tools you can use to optimize your table mix so it better reflects the mix of parties you have coming in through the door. You will also learn how to select and place tables, assign guests to tables, and set the ambiance of your restaurant to grow your revenue. Finally, you will devise pricing strategies that are most effective when your restaurant is busy.
eCornell SHA708Managing Meal Duration and Reservations0
When your restaurant is busy, every minute can count towards increasing your revenue. Professor Kimes explores how reducing meal duration, even by a single minute, can increase revenue potential. You need to consider the style of your restaurant and your customers when thinking about what an appropriate meal duration is. Then you can analyze the six stages of meal duration to determine where you can reduce time while maintaining a pleasant dining experience for your customers. Additionally, the way you manage reservations is crucial, especially during busy periods. There are several things you need to decide when it comes to how you are going to take reservations in your restaurant. You will examine the different approaches to taking and managing reservations, whether by phone, online, or mobile. You can use a dedicated website for the restaurant, a third party website, or a third party app. Professor Kimes will give you practical strategies to determine how you can improve your meal duration and your reservation systems, which are critically important to increasing revenue when your restaurant is at capacity.
eCornell SHA709Building Demand During Slow Periods0
How can you increase your revenue when your restaurant is slow and not performing to capacity? In this course, Professor Kimes will discuss several revenue management tools and techniques you can use to improve your restaurant's performance when it is slow. First you will consider how to maximize your distribution channels and consider the costs of online reservations and ordering systems and how to balance the costs with the benefits. How can you make it easy for customers to come to your restaurant? Another important tool you can use is promotions. You will explore different strategies such as happy hours, special events, and other options that can entice customers to come to your restaurant. Finally, you will consider pricing and determine what approaches are most effective when your restaurant is slow.
The ability to effectively communicate about change in an organization is essential for success. Change is inevitable and people will be affected by it to varying degrees even by positive change so it's important to be able to communicate clearly. In this course, you will explore the different ways change can impact people, how communication can alleviate negative reactions, and how to work with resistance to change. You will be introduced to formal communication plans, identifying the kinds of change that require documented plans and establishing the appropriate internal and external audiences that must be considered. You will then define the communication objectives for each audience, identifying their needs and discovering that each audience is distinct and may need different information at different times. Lastly, you will examine message strategy and timing, determining the content of the message, the forms of media that should be used for delivery, when to communicate with each audience, who the messenger will be, and the types of reactions to expect so that negative reactions can be effectively addressed and positive reactions can be encouraged.
A crisis can have a tremendous impact on the people involved and on an organization's performance and reputation, so it's important to communicate effectively in order to minimize negative consequences. Preparing for a crisis through the creation and ongoing analysis of a crisis communication plan can help minimize negative reactions and fallout. In this course, you will define crisis, paracrisis, and the goals of crisis communication. You will share your own experiences and practice identifying potential crises, creating a crisis communication plan, choosing a crisis communication team, and evaluating the plan. A key component of preparing for a crisis is crafting messages for internal and external stakeholders. Messages must be quick, consistent, and open, and preparing initial statements ahead of time will help leaders and spokespersons communicate effectively during a crisis. You will examine the content of effective initial statements with the opportunity to review real-life examples, evaluating them for quality and success. You will practice addressing difficult questions and criticisms, exploring acceptable and graceful responses. Once the crisis is over, it's important to review what worked well, what didn't, and to update the crisis communication plan for next time. Reflecting on a real life example, you will evaluate the response to the crisis and the crisis communication plan itself.
eCornell SHA713Foundations of German and Austrian Wines0
The remarkable variety and exceptional quality of German and Austrian wines may surprise you, but they will not disappoint. To get to know the wines of Germany and Austria, this course sets up a unique opportunity to dive into the contexts, varietals, and characteristics of wines from these regions. Throughout the course, you will explore the similar wine histories, climates, and geographies of Germany and Austria and consider how they influence the grapes grown and wines produced in these regions. By identifying the varietals grown there, you will draw connections across your expertise and set an exciting foundation for more education on regional wines and their individuality. You will also analyze and learn how to interpret wine labels from these countries to enable you to select wines to experiment with, discuss, and enjoy.
eCornell SHA714Experiencing Wines of Germany and Austria0
One of the best ways to learn is to teach. In the case of wine, one of the best methods of learning comes through sharing. In this course, you learn by working through the process of planning and hosting a wine-sharing event. You begin by selecting two to five wines from Germany and Austria to share. You are then guided through the process of planning the event (in person or virtual), including determining what information to share about each of the wines and how to serve them. Finally, while hosting the event, you will formulate your own opinions about the wines and learn from the experiences of others. By exploring these wines in this unique course, you will expand your palate, spark conversation, and support your lifelong study of wine. Because of the steps required to plan and host your event, we strongly recommend you review the project requirements and plan your time accordingly.
eCornell SHA715Foundations of Southern Hemisphere Wines0
The wine industry in the Southern Hemisphere is part of the growing and dynamic "new world" wine industry. Southern Hemisphere wines include those based on the traditional international varieties as well as wines based on signature varietals you will only find in their respective countries. In this course, you will explore the foundations of high-quality wines coming from five of the highest-volume wine-producing countries in the Southern Hemisphere: Argentina, Australia, Chile, New Zealand, and South Africa. You will start with the consideration of the climate of these areas, remembering that Vitis vinifera is best grown between the 30th and 50th parallels of both the Northern and Southern Hemispheres. You will explore the grape varieties and wine styles associated with each of our countries of focus, and you will combine all that you discover to research a specific winery and wine from each country. The following course is required to be completed before taking this course: Wine Essentials
eCornell SHA716Experiencing Wines of the Southern Hemisphere0
The Southern Hemisphere offers myriad wines to the world, and now you have the opportunity to experience these wines and share them with others. During this course, you will be guided through the process of planning and hosting an event sharing the wines of the Southern Hemisphere. You will start by selecting wines for others to try, then research and plan what information to share about each wine. Finally, you will host your event and lead your guests in trying each wine and sharing their opinions about the experience. Through your work in preparing and hosting this event, you will deepen your understanding of Southern Hemisphere wines, perhaps find a few favorites to enjoy regularly, and hopefully be inspired to continue exploring the wines of the Southern Hemisphere. The following courses are required to be completed before taking this course: Wine Essentials Foundations of Southern Hemisphere Wines
eCornell SHA721Discounted Cash Flows in Real Estate0
In this course, you will gain an overview of real estate financial modeling, focusing on properties with multi-year leases. Using the models and frameworks established as today's industry standards in real estate, you will explore deriving basic valuations and performance calculations. You'll discover how a discounted cash flow model can be used to deliver sound real estate investment and financial decision-making through hands-on practical exercises. As part of this process, this course will introduce the various Excel functions required to develop dynamic models to assist decision-makers. To be successful, these tools must be simple to use and interpret, must offer realistic outcomes to complex hypothetical real estate situations, and must be capable of handling a wide range of scenarios. High-stakes decision-making requires a comprehensive understanding of the options and their associated risk. Therefore, the first step is to adopt best practices then apply the essential building blocks in Excel that will be covered in this course, creating a foundation for your future work in this area.
eCornell SHA722Unlevered Real Estate Acquisitions0
In the competitive world of commercial real estate and asset management, creating reliable tools like acquisition models will allow you to make confident predictions, even in the face of common risks such as building vacancy. In this hands-on course, you will analyze the procedure for building a structural model from the ground up. This course will start with forecasting rental income and its main challenge, vacancy, for an office building. Forecasting future operating income requires looking lease by lease through each source of operational revenue and expense. Some items, such as expense recoveries, are recurring; others, like tenant improvements and leasing commissions, are exceptional. From here, an estimation of value and performance will require an assessment of the risks to which the investment will be exposed. Aggregating this forecast of unlevered income after making the proper adjustments for risk is the foundation for all future acquisition models. By the end of this course, you will be poised for success as you apply the concepts from this course in your role and beyond. Discounted Cash Flows in Real Estate OR Familiarity with the Microsoft Excel environment and the structure of a basic discounted cash flow model The ability to apply conditional functions in Excel (IF statements and LOOKUP, TRUE/FALSE, INDEX/MATCH, OFFSET, and MIN/MAX functions) to produce the desired outcome
eCornell SHA723Real Estate Debt Financing and Scenario Analysis0
While all commercial real estate transactions first require understanding the merits of a particular location and property, investors also pay close attention to the capital stack and the equity at risk. In fact, few deals are done with equity capital only. Using external financing to close on certain transactions is often motivated by risk-adjusted target performances. When done carefully, investors can take advantage of the cheaper cost of capital to potentially magnify their returns positively. In this course, you will expand on the basic underwriting model for property acquisition to incorporate financial leverage and scenario analysis. The first step is to take a precise look at how the most common types of mortgages work, noting that financing and capital structure decisions are far more complex than just building amortization tables. They include crucial details that can lead to a deal's success or failure and have important ramifications down the road. To apply your learnings on the optimal balance in your deal structure, you will model a variety of scenarios across many loan types while keeping the element of uncertainty in the forefront. You will acquire a what-if mindset through this process, helping you identify the optimal capital structure given the deal you are contemplating. With this tool combining your forecasting intelligence with a strategic choice, you will be set up to expand your knowledge in new ways and grow in your role and beyond. Discounted Cash Flows in Real Estate Unlevered Real Estate Acquisitions
With population growth and a finite amount of space on this planet comes a natural expansion of the land we use for human activity, and real estate development is the immediate consequence of this ever-growing human footprint. Most of the time, real estate development is a business in and of itself, with each development decision requiring meticulous economic analysis. In this course, you will start by assessing the real estate process as a whole, which will inform your understanding of why properties are located where they are. You will then examine the financing process that facilitates real estate development. To apply your knowledge, you will build a model from the ground up that includes the sequence of various equity and construction loan draws, including how to reallocate the proceeds. The course concludes with an evaluation of the optimal use of a vacant lot in New York City. You will apply what you have studied throughout this course to make a recommendation with respect to the appropriate land value and its best use given the financing structure in place, providing you with experience and best practices to apply to your role. Discounted Cash Flows in Real Estate Unlevered Real Estate Acquisitions Real Estate Debt Financing and Scenario Analysis
eCornell SHA725Equity Waterfalls in Joint Ventures0
Most commercial real estate deals succeed or break down around a simple concept: Does the ownership have what it takes to make it happen? The dilemma, then, that most investors contemplate is whether to be the sole investor and own all risks and profits or to partner with someone in a joint venture. In this course, you will discover how to analyze these options for a variety of investment scenarios, balancing the right incentives for each partner to perform at their best while avoiding conflicts of interest. You will examine examples of incentives, including profit-sharing rules, assessing the options when it comes to profit distribution and the variables involved, such as the timing and proportions of this disbursement. You will then gain experience applying the most common profit-sharing rules at the joint-venture level by building an equity waterfall from the ground up that includes four layers of distribution. By the end of this course, you will have more context and experience with joint ventures and the variables behind successful deals in the marketplace. Discounted Cash Flows in Real Estate Unlevered Real Estate Acquisitions Real Estate Debt Financing and Scenario Analysis Real Estate Development Financing
eCornell SHA726Real Estate Acquisitions Integrating ARGUS and Excel0
In this course, you will apply real estate financial modeling skills to a real-world example, offering the advantages of immersive decision-making but also assessment of that decision based on the outcome of a real example. You will examine an opportunity to invest in a Class B building located within the New York City submarket of Hell's Kitchen on the west side of Manhattan. You will walk through the process of carefully underwriting the deal and, ultimately, deciding whether or not to invest. In the process of this example transaction, you will gain experience using the industry's commonly adopted approach: utilizing widely used modeling tools including Microsoft Excel and ARGUS, which is used to model office, retail, and industrial operating cash flows. By adjusting crucial variables, you will discover new insights in the process of creating a dynamic model using these industry best practices. Finally, you will delve into the step-by-step market analysis behind each one of the tenant scenarios to inform a final recommendation. By experiencing the whole project process, you will be equipped to apply these skills to your projects across the industry. Discounted Cash Flows in Real Estate Unlevered Real Estate Acquisitions Real Estate Debt Financing and Scenario Analysis Real Estate Development Financing Equity Waterfalls in Joint Ventures
In this course, you will determine the factors of importance in making purchasing decisions in line with your organization's strategies and tactics. You will explore purchase specifications and align them with requests for quotations (RFQs) and purchase orders. You will then examine how purchasing supports your organizational goals, such as choosing higher-quality versus lower-price goods, in line with your organization's strategy and tactics. Finally, you will explore the factors that influence whether you should make a good (or provide a service) in house, or purchase that good or service from an outside vendor.
In this course, you will investigate the different factors that can be manipulated to impact your inventory. By monitoring customer service and inventory turns, you can minimize investment, resulting in the optimal level of inventory for your organization. You will forecast independent and dependent demand for inventory items and how that is impacted by the typical costs for various types of inventory. You will then calculate the inventory level that minimizes overall inventory costs for your organization while establishing reorder points that meet your proscribed service levels. By the end of the course, you will have created an MS Excel forecasting model and an EOQ model that will allow you to efficiently optimize your inventory.
In this course, you will identify the purchasing strategy and/or policy appropriate for any given purchasing scenario. First, you will explore reactive and proactive buying strategies and draft an annual purchasing plan using a sales forecast. Next, you will conduct an ABC analysis, or demand analysis, to differentiate your inventory. This will guide your strategy choices for different types of inventory items. Finally, you will draft buying strategies for differing levels of inventory that address short- and long-term planning for your organization. By the end of this course, you will have the skills and resources you need to create and refine the purchasing strategy for your organization.
In this course, you will develop a supplier selection and evaluation tool. By evaluating your organization's strategies and tactics, you will be able to identify the procurement factors of importance that you will use in your supplier decisions. You will explore what makes a "good" supplier and identify how much time to commit to sourcing requirements. You will then examine how your organization's goals and objectives interact with sourcing requirements and supplier selection. Finally, you will draft a supplier screening process using key financial ratios that you will then apply to your supplier selection and evaluation tool.
In this course, you will prepare for a supplier negotiation or collaboration by evaluating purchasing decisions for significant expenditures based on various cost models. You will examine various factors that affect costs, such as a supplier's pricing strategy and market conditions. By leveraging various costing strategies that are commonly used in industry, you will draft a price analysis for a complex item. Finally, you will explore collaborative cost management strategies and build a total cost of ownership model of your own.
eCornell SHA736Bidding, Negotiation, and Contract Management0
In this course, you will develop the most appropriate interaction style and contract type to secure supply requirements for your purchasing scenario. To begin, you will examine two interaction styles competitive bidding and negotiating and determine which strategy is most appropriate for a given scenario. You will then explore and plan for a successful negotiation using typical strategies such as identifying both your and your partner's negotiation stances. Once you have successfully applied best practices, strategies, and tactics for a negotiation, you will follow up with securing the contract parameters that meet your organization's procurement goals.
With emerging technologies and expanding global marketplaces, it is imperative that organizations become highly proficient in driving their change agenda. Whether diversifying, downsizing, merging, reorienting business, or developing new management structures, organizations must be able to effectively carry out change initiatives to remain productive and competitive. In this course, you will discover how to assess organizational readiness and your own ability to facilitate change. Working with a comprehensive organizational change management simulation, this experiential exercise provides an opportunity for you to learn by doing. By selecting and implementing strategies, you will see the rewards and consequences of your choices. You will also examine why the majority of change efforts fail, study change strategies, and determine how to fit them effectively to the stages of change. Finally, you will build an action plan for introducing a change initiative in your organization. In effect, this course enables you to begin building the skills and habits that you need to help make strategic or substantial change happen.
In order to be successful with your social media marketing, you must first understand how and why to structure a social media strategy to guide campaign execution. In this course, you will explore social media marketing platforms, publishers, tools, agencies, and the foundational elements of running a successful social media campaign. You will also examine what social media marketing is and how it is part of a brand-driven integrated marketing communications strategy. As the course progresses, you will evaluate the main social platforms used for digital marketing and practice aligning these platforms with your marketing goals and campaign strategy. You will also examine how marketers incorporate effective social media content that is brand-, influencer-, or user-generated. Lastly, you will assess the role of social media agencies to help you decide if and when to outsource your campaigns.
eCornell SHA742Social Media Marketing Across the Purchase Funnel0
Social media is best known by its platforms, especially the ones we use every day like Facebook, Instagram, and Twitter. But social platforms are not all alike, nor are they used by the same people and for the same purposes. Marketers need to know which platforms are appropriate to serve specific business goals and objectives. In this course, you will learn how to create a platform strategy by conducting an audience analysis to identify and describe the brand target markets. You will then perform a competitive audit to clarify the brand's social media presences relative to the competitive set and determine the social media marketing goals for the brand by applying the social media marketing funnel. Lastly, you will select the right social media platforms to deliver on specific marketing objectives across the social media marketing funnel.
Effective marketing communications inform and inspire consumers. It's messaging that creates product awareness and knowledge, and encourages positive brand attitudes and action. Traditional marketing, especially advertising, uses a "tell and sell" promotional approach that's unidirectional in presentation from brand to buyer and designed to persuade. It's hard marketing. Effective social media marketing is different. It's bidirectional conversation from brand to buyer and buyer to brand about the brand experience and designed to engage. This is soft marketing, the kind that target audiences seek as opposed to avoid. The key to social media marketing is connecting the customer with the brand through content that's informative, interesting, or entertaining ideally, a combination of all three. In this course, you will conduct a brand audit to identify the brand's pillars, tone, imagery, and personality. You will use these to create a clear brand voice for social media. You will then develop a content marketing social media strategy centered around a big idea and produce creative content that meets the business objectives of the organization as well as the needs and wants of the customer. Lastly, you will identify opportunities for user-generated content (UGC) that motivates the brand community and create a detailed content-posting cadence designed to meet the specific marketing goals.
eCornell SHA744Building the Brand Through Influencer Marketing0
Influencers are social media's celebrity spokespersons. Their followers provide a core audience of avid social media users, while the influencers themselves, through the endorsement of and engagement with brands, provide authenticity and trustworthiness. Teaming up and collaborating with the right influencers can help a company reach and expand target audiences, improve brand engagement, and inspire conversions. However, not all influencers are right for all brands; knowing when and how to use social influencers is an important element of social media strategy. In this course, you will analyze the types and roles of social media influencers and identify specific influencers that will help drive your marketing efforts. You will apply the consumer purchasing funnel to devise strategies aimed at connecting the right influencer at the right time with the right customers. Additionally, you will evaluate the ethical and regulatory aspects of working with influencers, and examine how to measure influencer campaign success across the funnel. Lastly, you will craft an influencer program to achieve social media campaign objectives by integrating influencers into the content marketing strategy.
eCornell SHA745Social Listening and Community Management0
Understanding what past, present, and potential customers are saying, hearing, and seeing about your brand is an important part of brand management and social media presence. Monitoring brand mention and conversations on social platforms can seem like a daunting, even impossible task. Fortunately, there are tools and solutions providers who can facilitate social listening and reputation management. What's important, then, is your understanding of why and how to manage social discourse about the brand to maintain and enhance your brand's credibility and overall reputation. In this course, you will build a strategic, proactive social listening system that amplifies the efforts of social media marketing and creates close relationships between the brand and members of the brand community. You will also develop a systematic organizational approach to community management that is consistent with the brand and leverages best practices for different social media platforms.
eCornell SHA746Measuring Social Media Marketing Success0
What makes a social media marketing campaign successful? Is it growth in followers? More engagement on social channels? Greater positive sentiment about the brand? What about increases in sales leads or in sales revenue? Social media success might be reflected in all, some, or just one of these outcomes. Ultimately, however, success is a function of how well the campaign performed in meeting its marketing objectives. Measuring this performance used to be elusive for social media, but as the practice has evolved, so has the means to determine what worked and what did not. In this course, you will identify the right metrics for measuring and benchmarking social media success across the marketing funnel. From measures of impressions, to engagement, to conversion, and to advocacy, you'll learn how brands and agencies link campaign objectives activity and outcomes to assess, test, and optimize campaign results. Additionally, you'll see how existing and emerging performance-reporting tools and dashboards help social media managers control dynamic campaigns to best ensure social media success.
In this course, you will develop an understanding of how hospitality real estate fits into a typical owner's investment portfolio and articulate how your property contributes to the overall ownership investment strategy and goals. You will examine the different approaches to the asset manager role, which often depends on the ownership and property needs. You will determine how the asset manager who works with your property functions in their role. You will review the typical design and contents of an asset management plan and analyze the strengths and weaknesses of your hotel from the asset manager's perspective. By the end of this course, you will gain an understanding of the perspective of the hotel owner so you can more effectively collaborate with the owner and asset manager by closely aligning your hotel goals with the goals of ownership.
In this course, you will explore the strategic decisions asset managers make, determining how you can proactively share information that maximizes your influence and helps them make better decisions. You will review the key components of a market assessment and pinpoint the data needed for effective analysis. You will develop an understanding of hold vs. sell decisions and determine how you can help optimally position your property for analysis. You will determine strategies for effectively communicating with the asset manager through periodic status meetings and site visits. After completing this course you will be prepared to influence the asset management strategy for your property and work more effectively with your asset manager.
In this course, you will examine the analytical tools asset managers use to perform critical analyses. You will conduct both a competitive analysis and a SWOT analysis on your property. You will explore benchmarking practices and financial analyses to identify deviations from expected performance. You will also examine best practices for projecting capital expenditures and performing a highest and best use analysis. You will leave this course with an array of helpful techniques that will enable you to provide the data and analysis that asset managers need to perform their jobs effectively.
In this course, you will explore critical aspects of facility maintenance including best practices for various types of maintenance, waste reduction strategies, methods for reducing environmental impact, and computerized maintenance systems that enhance efficiency. You will explore several tools critical to the effective financial and operational management of the facilities department. You will be prepared to make critical outsourcing decisions, to manage overlapping maintenance and housekeeping activities, and to use the best financial analysis tools to effectively manage the financial impact of the facilities department. By completing this course you will gain the skills necessary to effectively and efficiently manage your property building operations and extend the useful life (maximize the value) of the ownership group's physical asset.
eCornell SHA765Examining the Uniform System of Accounts for the Lodging Industry (USALI)0
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?
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. Examining the Uniform System of Accounts for the Lodging Industry (USALI)
eCornell SHA767Using Financial Statements for Decision Making0
If you want to understand a hotel property fully, you need to read and analyze three critical financial statements: its operating statement, its balance sheet, and its cash flow statement. These statements will answer key questions, including: In what ways is this property performing well or underperforming? Using provided data for a sample property, you will practice reading and interpreting financial statements to assess areas of strength and weakness, then you'll apply that understanding to critical higher-level decisions from different perspectives. What improvements would you make to this property if you were the owner? What improvements would you want to make to this property if you were the GM, who typically doesn't see the balance sheet? How about as an asset manager? These three people will see things differently, so how and what they advocate will differ. You want to be in the position to review the financials from all points of view and make the most informed decisions you can. Examining the Uniform System of Accounts for the Lodging Industry (USALI) Benchmarking Hotel Performance
eCornell SHA768Applying Managerial Accounting Tools to Improve Flow-Through0
In this course, you will practice using accounting tools to answer one critical question facing all hotel managers, owners, and operators: How much of the additional revenue generated from one period to another is retained as profit? As a manager or owner in the lodging industry, your ultimate goal is to make better decisions to improve your property's bottom line, but the challenge with any hotel is that so much of its costs are fixed, which means you incur those costs regardless of whether the property is turning a profit. You will work with Excel to practice analyzing and interpreting costs so that you can better manage them and use a regression formula to calculate change in profit and revenue over time. You will also explore the cost behavior of a property so that you can understand what's causing the costs to be incurred, and you will examine utility costs over time: How much of that is fixed and how much is variable based on usage? You will calculate "flow-through," which tells you how much of your revenue "flows through" to the bottom line. You will calculate the break-even point for a property and the margin of safety. Of particular significance to decision makers, you will identify what you can and cannot influence, both in the short term and the long term. Examining the Uniform System of Accounts for the Lodging Industry (USALI) Benchmarking Hotel Performance Using Financial Statements for Decision Making
eCornell SHA769Preparing the Operating Budgets and Monitoring Performance0
In this course, you will pull together the tools of USALI accounting, using revenue and cost projections, to prepare an operating budget for a property. Hotel decision makers use the operating budget to identify ways to control costs and improve profitability. An operating budget is a living not static document; you will develop skills to monitor it over time and develop best practices for interpreting what it's telling you to take appropriate corrective action. You will practice working with occupancy estimates that come from external sources in the industry, such as CBRE's widely used economic analysis reports. You will develop cost estimates, including fixed, variable, and mixed. Examining the Uniform System of Accounts for the Lodging Industry (USALI) Benchmarking Hotel Performance Using Financial Statements for Decision Making Applying Managerial Accounting Tools to Improve Flow Through
Revenue management is about rejecting current opportunities for potential future opportunities while maximizing profit. This course provides a rigorous foundation in traditional revenue management control of room and rate availability. You will begin by exploring inventory control, focusing on controlling rate but not length of stay. You will then add uncertain demand and discuss traditional availability controls such as requiring a minimum length of stay. Finally, you will explore optimization and illustrate methods for full-rate and availability control. This foundation is necessary if you want to develop your own revenue management system or engage effectively and fully with commercially available revenue management systems. Note that you are being asked to use Microsoft Excel for this course. It contains an add-in called Solver. While many open-source spreadsheet programs include Solver, the MS Excel version has a specific function that you will need for this course.
eCornell SHA772Price Sensitivity and Pricing Decisions0
Pricing has become an increasingly important mechanism in maximizing a firm's profits. The ease with which consumers comparison-shop has inspired firms to become more active prices. Unfortunately, if you lack a proper understanding of the impact of price on demand (and contribution), changing prices can quickly erode your firm's profits. This course describes the impact of changing prices in a competitive environment and describes several methods for measuring demand sensitivity to price changes, or price elasticity. The course begins with a strategic look at pricing and discusses the impact of price changes, including the anticipated reaction of your competitors. You will examine these impacts through a discussion of recent price changes during economic declines as well as a well-documented airline price war. Following this strategic discussion, you will use a set of tactical tools to evaluate the effect of a price action on demand and, ultimately, on profitability. You will have a chance to immediately practice what you've studied by participating in a pricing simulation game. This course contains an optional module on Tableau, an interactive visualization software used for business intelligence. You can download a free copy of it to your desktop. While this is optional material, you can use Tableau skills for data analysis and presentations. Price and Inventory Controls.
eCornell SHA773Segmentation and Price Optimization0
Today's progressive businesses use technology to evaluate and set prices in almost every major market. This use of technology has quietly revolutionized the way we do pricing. Shoppers find that prices vary widely, from customer to customer and even from day to day, and businesses can target individual customer segments to maximize their profitability. In this course, you will examine techniques for analyzing and setting prices. The first part of the course focuses on variable pricing, exploring how to create different prices for the same service or product and how to use segmentation, communication, and upgrading to capitalize on those prices. The second part of the course examines dynamic pricing, or how prices evolve over time. You will complete a project designed to evaluate the variable and dynamic pricing strategies of your firm or another hospitality-related firm. Over the duration of the course, you will monitor and record prices at a firm of your choosing. Toward the end of the course, you will analyze and report on the data. Price and Inventory Controls, Price Sensitivity and Pricing Decisions.
eCornell SHA774Displacement and Negotiated Pricing0
Group business from associations or conferences often comprises 50% or more of hotel room nights. Although groups typically negotiate their rates, systematic approaches to group pricing are still underdeveloped. In this course, you will examine strategic and tactical group-booking decisions over the long, medium, and short terms. You will examine why the hotel's strategic focus is the mix of groups while its tactical focus is rate and availability decisions for specific group requests. In the medium term, the hotel's focus shifts as both group and transient reservations begin to arrive. Finally, in the short term, the hotel's focus is on group materialization. In other words, will the group use its entire block of rooms? The course demonstrates how an effective revenue management strategy deals with arrival uncertainty using forecasting and overbooking. It explores the issue of displacement, looking specifically at how a property, when considering a group booking, should estimate the future arrivals that could be rejected due to lack of room availability. You'll discover that, using estimates of displacements, hotels can determine the number of rooms to allocate to each segment. Note that you are being asked to use Microsoft Excel for this course. It contains an add-in called Solver. While many open-source spreadsheet programs include Solver, the MS Excel version has a specific function that you will need for this course. Price and Inventory Controls, Price Sensitivity and Pricing Decisions, Segmentation and Price Optimization.
eCornell SHA775Search Engines and Online Selling: Stimulating Incremental Demand0
Today's hospitality consumers rely less upon traditional travel agents and more on web-based research when booking travel. In this course, you'll explore how to develop strategies designed to improve your standing in internet search results, known as search engine optimization (SEO), and increase your visibility to target customers. You will also investigate how to optimize your position on internet search results and increase conversions: the moment when a search becomes a purchase. Online travel agencies are especially popular because they provide one-stop convenience and notifications for consumers searching for deals and promotional opportunities. The success of online travel agencies is largely attributable to their marriage of leading-edge technology and a keen insight into consumer behavior patterns. You will have a chance to immediately practice what you've studied by participating in a pricing simulation game. Price and Inventory Controls, Price Sensitivity and Pricing Decisions, Segmentation and Price Optimization, Displacement and Negotiated Pricing.
eCornell SHA776Pricing and Revenue Management Essentials0
Have you traveled recently? More than likely, you used the internet to search for the "best" price in whatever way you might define that: a combination of room, car rental, and airline seat class prices; discounts; travel dates; length of stay; and so on. Conversely, as a decision maker in the hospitality industry, you cannot escape the influence of search engines, online travel agents, and social media on how you price your product. In this course, you will explore various revenue management, pricing, and internet marketing strategies and tactics that can enable you to maximize revenue at your firm. Revenue management is about rejecting current opportunities for potential future opportunities while maximizing profit. Pricing has also become an increasingly important mechanism in a firm's profits. In this course, you will begin by examining how to incorporate uncertainty in setting prices along with the trade-offs between demand and price. Calculating breakeven rates will assist you in determining where to set prices. Your customers have varying appetites for risk; in hospitality, this entails whether they will book now or wait for a lower price. How your competitors react to price changes you make will impact your revenue as well, and you will explore a model for framing these interactions. Finally, you can optimize your position on internet search results and increase conversions by applying the search engine optimization strategies that you will explore in this course. These strategies can increase your visibility to target customers. This course includes a pricing simulation game, where you will first compete against the computer to set prices competitively, then you will play the game with your peers. We recommend that you start the game immediately to ensure that you have enough time to experience (and enjoy!) the game in the final module.
eCornell SHA781Active Listening and Processing Feedback0
A leader's listening ability has a tremendous impact on their effectiveness. Professor Judi Brownell's HURIER model of listening provides a comprehensive method of listening improvement. In this course, you will assess your listening skills, set personal goals, and plan a development strategy. The application of listening principles to Servant Leadership and the development of emotional intelligence are emphasized. You will use the HURIER self-assessment instrument to assess your personal listening skills then solicit feedback from your colleagues to compare your self-assessment results to their perceptions. You will then reflect on the results and create a SMART specific, measurable, attainable, relevant, time-bound listening goal. As you move forward in the course, you will take on the role of a Servant Leader and determine how to facilitate a listening environment. You will observe and analyze a team and create an action plan to recommend improvements to the listening environment. Finally, you will examine three emerging issues that impact listening in the workplace and the larger social environment: diversity, ethics, and technology. After taking this course, you will be prepared to foster a strong listening environment within your organization and set clear goals for your continued skill development.
As a service-based business, the hospitality industry experiences unique challenges that require agile, people-centered, and authentic leadership. Organizations that can adapt to ever-shifting customer demands will be the ones that thrive. This requires leaders to have both the skillset and mindset to create flexible, team-focused cultures, ones that celebrate experimentation and the continuous learning of its team members. In this course, you will develop the skills needed to enable your enterprise to not only navigate the shifting landscape of the services industry but to actually thrive from it. As a student in this course, you will first explore the strategic purpose of asking framing questions to build the critical thinking skills of your team. This will enable you to frame opportunities to innovate with your team members. You will then determine how to set priorities that align with your purpose and focus on the right goals at the right time. You will also discover techniques to engage your team to own and implement your strategic priorities. Finally, you will identify your own unique strengths as a leader and understand the components and impact of an agile leadership style. By the end of the course, you will be able to better understand and apply your authentic leadership approach to create an inspired and innovative enterprise, one that is ready to capitalize on the opportunities before you.
A firm's agility depends as much on its teams as it does on its leaders. By focusing on how you can strengthen the collaborative skills, future thinking, and sense of belonging in your team, you will develop essential skills for creating an agile enterprise ready to meet the challenges of today's hospitality industry. In this course, you will discover critical strategies to help you maximize the value of working in different formats, increase your team's skillful collaboration and self-organization, develop the ability to anticipate and address future risk, and inspire a culture of ongoing learning. You will do so by exploring ways to leverage innovative ways of working and evaluating team structures and processes to increase your firm's capacity to improvise and respond to change. You will also develop your scanning and monitoring skills to help you and your team prepare for potential future environments. To gain a broader perspective, you will define your firm's higher purpose and how the work your team does fits into it. Finally, you will investigate how to inspire the ongoing learning of your team to help them strengthen their self-organizing skills. By the end of the course, you will be able to apply your enhanced collaboration and facilitation skills to create an agile team that is capable of anticipating future changes to the business environment and inspired to continue growing with your firm.
Hospitality organizations of the future will need leaders with the skills to envision new ideas, build a workplace that fosters innovation, and design operations that give employees choice and control to achieve excellence. In this course, you will review key aspects of developing a leadership experimental mindset that helps to foster innovation and transformation in your enterprise. Leveraging the advantages of greater access to information in uncertain circumstances, you will discover how to design and test experiments and how to create an experimental work culture that fosters innovation and change to alter the way your enterprise approaches transformational change, one step at a time. Finally, you will explore the social nature of innovation along with ways to encourage safe risk taking and engage in honest conversations in a supportive and healthy workplace. By the end of this course, you will have the tools you need to implement the power of experimentation in your role and beyond.
eCornell SHA801Exploring Foundations of Sustainable Commercial Real Estate Development0
Sustainable commercial real estate development now demands a holistic approach that balances environmental, social, and economic priorities. In this foundational course, you ll dive into the core principles that define sustainability in the built environment, examining how these pillars intersect at every stage of the development lifecycle. By assessing real-world municipal initiatives and stakeholder dynamics, you will gain practical strategies to mitigate the risk of stranded assets and drive long-term value. Through hands-on case studies, you will develop frameworks to engage key stakeholders and keep sustainability central to your decision-making. Ultimately, you will learn to evaluate development opportunities through a critical, sustainability-focused lens setting a firm foundation for deeper exploration.
eCornell SHA802Planning the Sustainable Commercial Real Estate Project0
Strategic sustainability planning is the bedrock of successful commercial real estate development. In this course, you will learn to embed sustainability into the earliest project stages, building a vision that drives financial value and aligns with complex stakeholder priorities. As the course progresses, you will refine your ability to conduct rigorous site analyses, define project scope, and craft compelling vision statements that ensure lasting impact. You ll assemble a comprehensive development package designed to balance competing interests with practical constraints. By prioritizing early integration of sustainability principles, you will be equipped to position your projects for long-term success and resilient value creation in a rapidly evolving market.
eCornell SHA803Financing Sustainable Commercial Real Estate Projects0
Financial strategy is the heartbeat of sustainable development. In this course, you will explore the critical financial frameworks that drive project feasibility, leveraging sustainability as a tool to strengthen overall outcomes. By applying Triple Bottom Line (TBL) analysis, you will evaluate project viability and gain firsthand experience with the innovative green financing options reshaping the industry. You will also analyze ROI opportunities unique to sustainable design, skillfully balancing immediate returns with long-term value creation. By synthesizing environmental and social benefits with traditional financial metrics, you will develop comprehensive feasibility analyses that support smarter, more impactful investment decisions.
eCornell SHA804Designing Sustainable Sites and Optimizing Water Management Strategies0
Water scarcity and climate change are forcing a fundamental rethink of how we manage our most vital resources. As urban density intensifies, integrated water management has become a critical pillar of resilient development. In this course, you ll analyze land characteristics, urban development patterns, and water systems to uncover how buildings both influence and respond to their environments. You will explore practical methods to enhance site sustainability by evaluating water resources, identifying high-impact conservation opportunities, and designing efficient building-level systems. Through real-world scenarios, you ll strengthen your ability to implement comprehensive water management plans that align environmental stewardship with operational goals. By leveraging these strategies, you will emerge equipped to lead initiatives that advance water conservation, drive sustainable development, and ensure your projects thrive in an increasingly resource-conscious world.
eCornell SHA805Designing Energy Efficient Building Systems in Commercial Real Estate0
Advancements in sustainable building design are fundamentally reshaping how organizations approach energy consumption and operational efficiency. As energy costs rise and environmental regulations tighten, mastering the principles of energy-efficient building systems has become essential for professionals driving innovation in construction and facility management. Throughout this course, you will analyze core energy principles and investigate strategies to optimize building performance. You will apply Lifecycle Cost Analysis (LCCA) to make data-driven decisions that balance upfront investments with long-term savings, ensuring projects deliver both economic and environmental value. By evaluating both passive architectural solutions and active technological systems, you will build the expertise needed to select, integrate and manage energy systems that support sustainability goals. Through practical exercises and real-world case studies, you will develop tailored solutions that meet diverse project requirements. By the end of this course you ll be prepared to drive impactful change in the built environment, applying advanced energy efficiency strategies that elevate building performance and sustainability.
eCornell SHA806Selecting Sustainable Materials for Healthy Commercial Buildings0
Building material selection directly shapes the health, comfort, and sustainability of indoor environments. As occupants and investors demand healthier, more resilient spaces, understanding the relationship between building components and Indoor Environmental Quality (IEQ) has become a core competency for commercial real estate professionals. In this course, you ll explore how material lifecycles from sourcing to disposal impact both occupant well-being and environmental performance. You ll analyze the interplay between materials selection, air quality, thermal comfort, lighting, and acoustics to gain a holistic view of how each decision contributes to a healthier indoor ecosystem. By developing the ability to critically assess sustainability claims and implement effective materials strategies, you ll be empowered to create spaces that prioritize both human health and environmental responsibility. By the end of the course, you ll be prepared to make evidence-based choices that elevate the quality and sustainability of the built environment.
eCornell SHA807Exploring Sustainable Operations and Maintenance Strategies in Commercial Real Estate0
Sustainability in the built environment demands more than just innovative design and construction it requires a strategic approach to ongoing operations that deliver lasting value. Throughout this course, you ll build expertise in orchestrating the crucial transition from construction to day-to-day operations, ensuring that sustainability goals remain front and center. You ll explore proven methods for monitoring building performance, implementing robust reporting systems, and driving continuous improvement to optimize resource use and occupant well-being. By developing comprehensive operation and maintenance plans, you ll champion Triple Bottom Line outcomes balancing environmental, social, and economic priorities across the entire lifecycle of your building projects. With these strategies, you ll be equipped to shepherd sustainable operations that deliver measurable impact, positioning yourself as a forward-thinking contributor ready to advance sustainability initiatives in any organization.
eCornell SHA871Marketing Hospitality Brands Through Digital Media0
Integrated marketing communications (IMC) is both a theory and a process. The goal of IMC is to make sure the promotional elements of a business work together and communicate a consistent brand experience for current and future customers. In the information age, it is critical that your brand penetrates through the dense marketing landscape and connects with your target audiences. In this course, you will examine what integrated marketing communications is and how you can use it to communicate your brand s strategy and promise. You will also identify why an IMC plan should constantly evolve in the face of a shifting media landscape and dynamic business realities and market conditions. You will discover how you can use marketing communications to effectively shape consumers brand beliefs and persuade them, while doing so in ways that are legal and ethical. Finally, you will explore a number of conceptual models that can help you define and refine the brand's marketing communications goals. Throughout, you will utilize these strategies to begin to build an IMC strategy for a fictional hotel in Baltimore, Maryland.
eCornell SHA872Implementing Brand Strategy Through Digital Media0
A brand's marketing communications must be where target consumers are, and they are increasingly online. As the number of online channels grows, it becomes even more important to ensure that marketing communications are integrated and targeted to the brand s key audience. Successfully defining that target audience, then designing communication that will resonate with them and shape their brand beliefs, must be the basis of the organization's online marketing. With those in hand, you can focus on the two main channels of online marketing: website and search engine marketing. In this course, you will examine how to identify the brand's target market and develop a brand voice that will resonate with them. You will also determine how to develop a creative strategy and marketing messages that will effectively shape the target audience's brand beliefs. You will then examine the importance of the brand website as the centerpiece of your online channels along with the many ways to keep the website functional, engaging, and fresh. Finally, you will explore search engine marketing, including how to bid on search keywords, which keywords to bid on, and how to make effective use of online display advertising. Throughout the course, you will remain centered on the importance of ensuring that the brand channels speak with one voice, with messaging tailored to the target audience and in support of the broader integrated marketing strategy. It is highly recommended that you have completed the following course or have equivalent experience before taking this course: Marketing the Hospitality Brand Through Digital Media
eCornell SHA873Communicating the Brand Across Marketing Media0
The contemporary media landscape offers a staggering range of marketing communications channels and tools. These include digital channels, social media platforms, influencers and content creators, user-generated content, and experiential marketing, along with the full suite of traditional media such as print, radio and TV, and public relations. It is therefore critical that brands optimize their marketing communications to meet and exceed the needs and expectations of their current and future customers. In this course, you will explore ways to utilize online and traditional media to effectively communicate a brand's promise and voice, build positive associations with the brand, drive sales, and meet marketing goals. You will examine search engine optimization strategies and analyze the role content marketing plays in building the brand s online presence. You will also delve into the nuances of creating content for social media channels, managing online communities, and working with influencers. Throughout, you will assess the continued role that traditional media and tools play in meeting integrated marketing communications goals. After successful completion of this course, you will have analyzed, practiced, and applied a wide range of contemporary digital marketing strategies designed to strengthen and enhance the audience-brand relationship. Marketing the Hospitality Brand Through Digital MediaImplementing Brand Strategy Through Digital Media
eCornell SHA874Success Metrics for Hospitality Digital Marketing0
Digital marketing is fast becoming the primary means for hospitality and related service firms to reach, engage, and transact with consumers across their multiple devices. Consumer planning, shopping, experience, and sharing through digital media is quickly changing how marketing is done as well as how marketing effectiveness is measured. Owners and managers must be able to make effective, data-driven, analytical, and integrated decisions related to digital marketing using the right metrics and reports. These decision support tools may be generated internally and/or by vendors, like digital or social media marketing agencies. Managers must be able to understand, evaluate, and communicate recommendations in line with the firm s overall business and marketing strategies. This course provides managers with the insight and tools to do the job. In this course, you will make marketing and service enhancement decisions based on the interpretation and integration of digital media performance metrics. Through this analysis, you will evaluate the effectiveness of digital marketing activities using standard and new performance metrics. You will also use digital media reports and available analytic tools to assess the competitive position of a business and articulate recommendations to improve performance. Marketing the Hospitality Brand Through Digital MediaImplementing Brand Strategy Through Digital Media. Communicating the Brand Across Marketing Media
eCornell SHA881Leveraging Predictive AI in Hospitality0
As a hospitality professional, it's essential to quickly understand how AI can enhance your daily operations as well as improve both customer and employee experiences. This process begins with establishing a foundation in predictive analytics and machine learning, which utilizes historical data to forecast, make recommendations, and support decision making. Understanding these practices is crucial for staying competitive and responsive in a rapidly evolving industry landscape. Throughout this course, you will delve into how AI is transforming the hospitality sector, exploring both the opportunities and challenges it presents. A focus will be placed on how machine learning can be leveraged to optimize customer experiences and enhance employee performance and operational efficiency. You will apply predictive analytic models to evaluate and optimize analytical processes, analyze qualitative and quantitative data to make informed predictions, and evaluate correlations among variables. You ll also select suitable predictive models, assess their performance, and refine these models to more accurately forecast market demands and business outcomes while identifying data biases and their potential impact on model limitations. By the end of this course, you'll have explored, practiced, and evaluated various methods of integrating machine learning and predictive analytics into your organization. These skills will assist in streamlining business activities, supporting organizational goals, and allowing employees to focus more on enriching the customer experience. Although the course includes numerous AI use cases, they are intended as foundational learning; you are encouraged to build upon these models and apply your skills to effectively address data-driven challenges as they arise in your professional environment.
eCornell SHA882Appyling Generative AI in Hospitality0
In today s rapidly evolving hospitality industry, the advent of generative AI (GenAI) offers groundbreaking possibilities akin to historic innovations like the assembly line and the internet. GenAI has the potential to revolutionize how people work in the hospitality industry. One of GenAI s most immediate effects is increased access to analytical tools that were once reserved for experts, making them available to anyone with a smartphone or laptop. This newfound accessibility creates a wealth of opportunities for hospitality professionals who have a deep understanding of their business and market but may lack formal training in statistical analysis. Yet with these opportunities come certain risks. As a leader in the hospitality industry, it is increasingly crucial to understand, communicate, and effectively apply the capabilities, limitations, risks, rewards, and impacts of GenAI on your firm's customer service experience and business objectives. In this course, you will explore and apply GenAI best practices to help you address a variety of qualitative and quantitative challenges. Throughout, you will examine the critical role of human oversight while harnessing the capabilities of GenAI to serve as your data analysis assistant. You will work with large language models to perform cross-program computations; create custom, data-rich, and visually efficient reports; and enhance accuracy and efficiency in Excel. You will also practice methods to generate and refine content across diverse settings, such as crafting customized responses to consumer reviews; drafting documents, reports, and emails; and efficiently evaluating and categorizing consumer feedback. By the end of this course, you will have developed the skills necessary to effectively interact with GenAI as your on-demand data scientist, allowing you to tackle a range of data-driven problems and challenges in hospitality.
eCornell SHA883Streamlining Hospitality Operations With Automation0
Today s hospitality leaders face the challenge of constantly enhancing and optimizing their business processes while relying on the most up-to-date information. Yet valuable data about your organization is not confined to in-house systems; it is extensively distributed online. From desktop customer databases and property and reservation management systems to customer reviews, inquiries, market trends, and popular searches, data is omnipresent. The process of collecting, connecting, categorizing, and analyzing this data can be time consuming, potentially hindering business objectives as individuals struggle to keep pace. Fortunately, many of these tasks can be automated, allowing firms to react swiftly so that they can concentrate on doing what they do best: delivering exceptional service to their customers and clients. In this course, you will explore various forms of automation tailored for the hospitality industry. You ll set up alerts for new reviews and automatically forward key insights via SMS or email to relevant stakeholders. You ll leverage generative AI (GenAI) tools to craft responses to reviews, which can be posted online or shared with team members for approval. You ll also be able to gain hands-on experience scraping reviews using specialized tools and building custom solutions through robotic process automation. Additionally, you ll automate sentiment analysis of reviews using GenAI, enabling deeper insights into customer feedback. A key highlight of the course is creating and deploying your own virtual assistant powered by GenAI. This assistant can be trained on company-specific data to handle customer inquiries or support employee training. You ll also discover how to automate data entry and extraction from legacy desktop applications, enabling seamless integration between disconnected systems. This comprehensive approach will equip you with the skills to harness AI and automation for greater efficiency and improved guest experiences.
eCornell SHA891Embracing Feedback and Building Relationships0
Success in today's workplace depends on the ability to communicate effectively and build meaningful relationships. This course focuses on two essential skills: mastering feedback and developing your professional network, both of which are critical for personal and career growth. In this course, you will explore why feedback often feels difficult and discover actionable strategies, such as the SBIA model (Situation, Behavior, Impact, Ally Action), to turn it into a tool for success. You will also discover practical networking techniques to expand your connections, find mentors, and introduce yourself with confidence in various settings. The course features expert insights, collaborative activities, and innovative concepts. Upon completion of this course, you will be equipped to handle feedback constructively, foster strong workplace communication, and leverage networking opportunities to advance your career. These skills will help you build relationships that support professional growth and create a positive impact in any work environment.
In this course, you will develop essential skills for advocating effectively in the workplace, focusing on how to raise concerns and present ideas in ways that benefit both you and your organization. You'll progress through a structured learning journey that begins with understanding advocacy fundamentals and workplace dynamics then moves to framing techniques and timing strategies, culminating in practical application through real-world scenarios and exercises. Through hands-on projects, you will align concerns with organizational priorities, select appropriate communication channels, use precise professional language, and build confidence in navigating hierarchical workplace relationships. The course emphasizes practical skill-building through tools like the Conversation Planner and Advocacy Tracker while incorporating real examples from successful workplace advocates. By completing this course, you will be equipped with concrete strategies for speaking up effectively, understanding organizational dynamics, and handling potential setbacks skills that are increasingly valued in today's workplace.
