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Course Description

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.

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

  • Examining the Uniform System of Accounts for the Lodging Industry (USALI)
  • Benchmarking Hotel Performance
  • Using Financial Statements for Decision Making
  • Applying Managerial Accounting Tools to Improve Flow Through

Faculty Author

Mary MacAusland

Benefits to the Learner

  • Use revenue and cost projections to prepare the budget
  • Use the operating budget to identify ways to control costs and improve profitability
  • Monitor the living document and develop best practices and corrective action

Target Audience

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

Applies Towards the Following Certificates

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Enroll Now - Select a section to enroll in
Type
2 week
Dates
Jan 08, 2025 to Jan 21, 2025
Total Number of Hours
16.0
Course Fee(s)
Regular Price $999.00
Section Notes

IMPORTANT COURSE INFORMATION

  • For the best experience in this program, it is recommended to take these courses in the order in which they appear.
  • This course includes a year of free access to Symposium! These events feature live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
Type
2 week
Dates
Apr 02, 2025 to Apr 15, 2025
Total Number of Hours
16.0
Course Fee(s)
Regular Price $999.00
Section Notes

IMPORTANT COURSE INFORMATION

  • For the best experience in this program, it is recommended to take these courses in the order in which they appear.
  • This course includes a year of free access to Symposium! These events feature live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
Type
2 week
Dates
Jun 25, 2025 to Jul 08, 2025
Total Number of Hours
16.0
Course Fee(s)
Regular Price $999.00
Section Notes

IMPORTANT COURSE INFORMATION

  • For the best experience in this program, it is recommended to take these courses in the order in which they appear.
  • This course includes a year of free access to Symposium! These events feature live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
Type
2 week
Dates
Sep 17, 2025 to Sep 30, 2025
Total Number of Hours
16.0
Course Fee(s)
Regular Price $999.00
Section Notes

IMPORTANT COURSE INFORMATION

  • For the best experience in this program, it is recommended to take these courses in the order in which they appear.
  • This course includes a year of free access to Symposium! These events feature live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
Type
2 week
Dates
Dec 10, 2025 to Dec 23, 2025
Total Number of Hours
16.0
Course Fee(s)
Regular Price $999.00
Section Notes

IMPORTANT COURSE INFORMATION

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