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ACCEPT

Creating Value in Hospitality

04 Mar 2019 to 09 Mar 2019

In today’s highly competitive world, creating value is a key success factor. Executives who leave costs to their financial managers and accountants miss out on opportunities and increase the risk of their organizations. Whether you sell luxury products and services or those that are value-priced, no business excels without attending to costs. Advanced insights into the key elements which define the ultimate balance between managing cost and creating long-term customer value is a competitive advantage.

Create a competitive advantage thanks to your customers and managers

In order to achieve this, managers/executives needs to understand where to find the information that will allow them to assess the adding value (or not) and how their day-to-day decisions will have an impact on it. Creating value in hospitality is essential, and managers need to maximise the use and the value of the available resources.

We have designed a programme of 3 modules in order to achieve a competitive advantage, which includes the following:

  • Acquiring financial skills: interpret the financial statements properly to compare their performance with the average performance of similar businesses in the same industry.
  • Monitoring and analysing your assets: acquire techniques to improve asset management in the hospitality industry and provide the delegates with an opportunity to develop your understanding of current asset management issue and the requirement to meet investors’ objectives.
  • Creating Strategic Thinking in Customer Experience: Understand the importance of bringing costumer experience to the strategic level and/or vice versa in integrate strategic thinking and brand service values into daily actions for customer experience enhancement.

Any question?

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This Programme is part of the Career Development Programmes

Customize your programme according to your schedule and your needs.

Creating Value in Hospitality March 4th to 9th 2019

Mar 04
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Mar 05
Mar 06
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Mar 07
Mar 08
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Mar 09
  • Professors

  • Learning objectives

Pierre Verbeke is a Senior Consultant at LHC. He has an extensive career in hotel operations, pre-openings and rebrandings. He is first and foremost an operational person having managed several hotels in Belgium and having set up many pre-opening teams in different countries. He also has gained a wealth of experience opening hotels for a large Hotel Operator in various European, North African and Eastern Europe countries. He is particularly at ease with project management and knows how to deliver the highest quality of service within the agreed timeframe.

Pierre has experience with leased, managed and franchise properties and understands the various demands from owners, investors, operators within the different projects. Pierre is an alumnus of Ecole hôtelière de Lausanne. He speaks Dutch, French, German and English, with some notions of Spanish.

Pierre Verbeke

Senior Consultant at Lausanne Hospitality Consulting

more infos

Olivier Verschelde. Prior to joining Lausanne Hospitality Consulting Olivier has been involved in managing a new boutique hotel & spa project near Paris as well as taking the lead in the development of several food and beverage outlets from conceptualization to start-up. One of these being a gastronomic restaurant which received its first Michelin Guide star five months after its initial opening. Olivier graduated from the Ecole Hôtelière Lausanne in 2003 and has been building up his knowledge of operations in hospitality industry ever since.  He confirmed his expertise in managing projects by obtaining a Project Management Professional (PMP) certification in 2012. He has worked several years on high profile projects within Europe and has consequently a good understanding of both the local and national market. His is a native Dutch speaker and also speaks in English, French, German as well as Spanish. He’s always on the lookout to apply the latest in technological advancement within the industry to current projects.

Olivier Verschelde

Senior Consultant at Lausanne Hospitality Consulting

more infos

Dr Ray F. Iunius is the author of various academic and professional articles published by journals in the management of services, technology, and innovation. He is also the author of a number of books such as « Industrie de l’accueil », « Hôtellerie de Luxe », « La gestion des spas », “Un Hôtel, un modèle ?” in de Boeck editions and co-author of the “Lausanne Report on the future of Hospitality Industry.”
He is the founder of the Ecole hôtelière de Lausanne Institute of Technology and Entrepreneurship (EHLITE), the Institute for Innovation and Entrepreneurship (INTEHL), the Students Business Projects (SBP), the EHLITE magazine, and the Chair of Innovation Paul Dubrule.
Ray earns a BSc, MS and PhD in Technical Sciences from the University of Transylvania Brasov and an MBA and PhD from the Faculty of Business and Economics (HEC) of the Lausanne University. He is currently Director of Business Development at Lausanne Hospitality Consulting, an Ecole hôtelière de Lausanne and Swiss Hotel Association company.

Ray Iunius

Director Business Development at Lausanne Hospitality Consulting

more infos

Knowledge

  • Identify the major implications of financial accounting on financial information
  • Explain the contents, sources of data and presentation of the three key financial statements
  • Identify the main profitability, liquidity, solvency and investor ratios and their implication on investment decisions
  • Describe unique aspects of real estate markets
  • Define the structure of the commercial real estate markets
  • Explain the structure of the hospitality business
  • Employ business tools to monitor and measure effective asset management
  • Use investment appraisal analysis techniques for strategic decision making
  • Assess Alternative sources of funding and cost of capital in the current market
  • Apply risk and sensitivity analysis techniques to business decision making
  • Beyond budgeting, understand ways to manage the decisions and actions that give rise to costs
  • Relate the creation of customer value to the generation of costs
  • Connect strategy theory to pragmatic strategic solutions
  • Understand how appropriate strategy helps manage competitive pressures
  • Identify key trends of importance to their business and develop strategic plans to manage them

Competencies

  • Analyze and interpret the three key financial statements
  • Analyze the performance of a business at operational and corporate levels
  • Perform an investment analysis using cost concepts and value creation measures
  • Practice a range of techniques to evaluate business data for decision making
  • Measure the impact of business decision making on profitability and cash flow
  • Create business plans and feasibility analysis
  • Make tradeoff decisions, balancing what your customers value with what they are willing to pay, required for effective cost control
  • Designing products and services in such a way that resulting costs are appropriate
  • Develop trend analyses
  • Recognize and learn how to use the different strategy frameworks
  • Develop strategic plans relevant to the different strategic pressures
  • Recognize and implement change management

Mindset

  • Be able to question one’s own talent assessment practices and remain objective in a process of talent identification
  • Build awareness about common behavioural errors that managers are prone to
  • Practice critical analysis in business planning
  • Evaluate the viability of alternate business propositions
  • Customer-centric perspective
  • Strategic view required for causing rather than merely responding to shifts in the balance of competition
  • Recognize the need to balance quality and quantity in management actions
  • Develop a future and strategy oriented outlook
  • Accept that all management actions have strategic implications

Any question

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