This course is an introduction to the systematic and coordinated processes by which physical assets in the hospitality industry (hotels, conference centers, resorts and other properties) are managed. Asset management requires a cross-functional approach to achieve sustained value in a hotel asset including the selection, design, acquisition, operation, maintenance and renewal of the physical infrastructure. The course will provide participants with a foundational understanding of the profession of the hotel asset manager and his/her role of having the fiduciary responsibility to manage the lodging investment to meet the specific objectives of ownership. At the heart of effective asset management is the maximization of investment value through measurable profit creation and preserved capital growth.