CHOICE UNIVERSITY, OPERATED by Choice Hotels International, recently launched the online “School of Business Principles & Financial Management” program to train owners and operators of Choice Hotels-branded properties in hotel management. The program equips owners with the tools and knowledge to make informed decisions, improve operations and increase profitability, Choice said in a statement.
“Choice University’s schools offer our community of owners targeted learning in key areas of hotel management,” said Jeneane Becker, Choice University’s dean. “Our new School of Business Principles & Financial Management is designed to help them elevate their hotels’ financial performance.”
The new program includes instruction on benchmarking performance, enabling owners to measure their hotel’s results against industry standards and competitors to identify areas for improvement, the statement said. It also covers income statement and balance sheet basics, helping owners understand and analyze financial statements to make informed decisions.
The course includes 10 revenue management strategies designed to optimize revenue, improve guest satisfaction and increase occupancy rates, Choice said. It explains how to use Choice’s “Your Key to Profit” resources, which provide insights and practices to boost profitability.
In addition to the School of Business Principles & Financial Management program, ChoiceU offers the School of Hospitality Excellence & Hotel Operations, focusing on guest satisfaction, cleanliness and operational efficiency, and the School of Hotel Investment & Development, which helps owners prepare for growth, identify expansion opportunities and secure financing.
Furthermore, ChoiceU plans to launch the School of Leadership Development, the School of Professional Studies, and the School of Sales & Revenue, the statement said. ChoiceU courses are online, making them accessible for ongoing hospitality learning and development.
Choice recently announced the 2024 recipients of its “Your Community, Your Choice” grant, donating $75,000 to support hotel owners in funding local nonprofits, marking the initiative’s fifth anniversary. Since 2019, the program has donated $275,000 across more than 70 hotels in the U.S.
