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Beyond Gratitude and Gratuity: A Meta-Analytic Review of the Predictors of Restaurant Tipping
No full textEvery year consumers voluntarily give away billions of dollars to service workers in the form of tips. The voluntary nature of tipping raises interesting questions about why people tip and what factors influence their tipping decisions. These questions are addressed in a review of theoretical work on tipping and in a meta-analysis of 22 published and 14 unpublished studies examining the predictors of tip size in restaurant settings. Our findings suggest that tipping is predominantly affected by social expectations, server attractiveness, server friendliness and customer mood. Service quality and cost considerations appear to have only weak effects on tipping. The theoretical, methodological, and practical implications of these findings are discussed along with directions for future research
Baker Program\u27s Inaugural Domestic Trip to San Francisco and Silicon Valley
No full text[Excerpt] In late January, first-year students in the Baker Program in Real Estate attended the first annual domestic real estate trek as part of the program’s newly revised curriculum. For this inaugural trip, students visited San Francisco and Silicon Valley, two of the nation’s most active real estate markets
The Changing Relationship between Supervisors and Subordinates: How Managing This Relationship Evolves over Time
Get PDFUnderstanding how the relationship between a subordinate and manager develops over time has been a critical matter both for academics and for business. In both academic journals and industry publications, some writers have argued that the relationship is driven by perceptions of fairness and treatment, and that developing the relationship can lead to better performance. Others have argued that higher performers get better treatment and resources, which results in superior relationships with their managers. There is really no clear answer of what comes first—perceptions of fairness, satisfaction with the supervisor, or job performance—and which leads to which
Highlights from the 2016 Sustainable and Social Entrepreneurship Enterprises Roundtable
No full textThe April 2016 Sustainable and Social Entrepreneurship Enterprises roundtable brought together over 20 faculty, students, and leaders and entrepreneurs from a wide variety of mission-driven enterprises that focus on sustainability or social welfare. Jeanne Varney, lecturer at the School of Hotel Administration, opened the day by inviting attendees to speak to and even test some of their innovative ideas on fellow participants during the day. Varney noted: “One of our goals for the roundtable was to have a really diverse set of attendees and to hear a lot of different perspectives.
Exploring Ideas from Hospitality, Health Management, and Design for Senior Housing and Care: Insights from 2016 CIHF Senior Living Roundtable
Get PDFThe first Cornell Institute for Healthy Futures (CIHF) roundtable, held in April 2016, brought together senior-level executives, educators, and leaders in senior housing and care to share experiences and exchange ideas. CIHF roundtables are purposely limited to approximately 25 to 30 participants “at the table” to foster discussion on a more intimate basis than traditional conferences. In addition to the formal participants, students, faculty, and guests observed and interacted during the event and attended a separate panel discussion, and reception the evening before. Students, faculty, and industry leaders also met together at a working luncheon session to brainstorm ideas for recruiting and training young talent for careers in the senior housing and care industry
The Role of REIT Preferred and Common Stock in Diversified Portfolios
No full textWhile “maximizing returns” is a stated goal of many investors, it is clear that some are more willing than others to embrace risk in their pursuit of those returns. An analysis of risk-return profiles finds that investors see different purposes for real estate investment trust (REIT) common stock and preferred stock depending on their tolerance for risk. Using a utility-based approach and imposing realistic constraints on the investor’s portfolio, this report shows that REIT preferred and common stock provide diversification benefits, but to different sets of investors. Risk tolerant investors find REIT common stock beneficial, while risk averse investors find the preferred stock more favorable. The key highlight from the study is that investors, especially those who have investment grade bonds, should consider adding REIT preferred stock to their portfolios
What Guests Really Think of Your Hotel: Text Analytics of Online Customer Reviews
No full textHotel ratings do not tell the full story of how guests view a hotel, according to an analysis of the text of 5,830 reviews covering 57 hotels in Moscow, Russia. The study found, for instance, that negative comments have a heavier weight in a guest’s rating of a hotel than do positive comments. This uneven weighting means that a simple average of positive and negative scores may not provide a clear view of guests’ opinion of the hotel. This finding also underlines the importance of consistency, because guests’ bad feelings from poor service generally will submerge their favorable feelings from good service. The study applied a regression analysis to the relationships of 18,106 distinct terms relating to five specific attributes—amenities, experience, location, transactions, and value. Reviews for different hotel tiers gave varying weights to those attributes. For instance, the guest’s experience was mentioned more commonly in reviews of high-tier hotels, while amenities and location came up more frequently for motels in the middle tier compared to hotels in other tiers. Guests at the lower tier properties wrote more commonly about transactions and value than those staying at hotels in the middle and high tiers. One particularly noticeable feature of the reviews is that ratings sank when guests wrote lengthy reviews that focused tightly on a limited number of hotel attributes, while relatively briefer reviews that took a wider view of the hotel generally had higher ratings. The study also found that guests write more about value and transactions when they are dissatisfied. Thus, text analytics can point to specific steps managers can take to improve guests’ assessments and their hotels’ ratings
Short-term Trading in Long-term Funds: Implications for Financial Managers
Get PDFMost hospitality firms do not consider managing stock portfolios to be a main part of their operations. They are in the service business, using their real assets and the services provided by employees to create valuable experiences for guests. However, the need to focus on stock investments arises through those employees. Employees consistently rank benefits, including retirement benefits, among the top five contributors to job satisfaction and as a key consideration in accepting a job.1 It is not surprising, then, that more than 90 percent of companies with 500 or more employees offer retirement plans. The five largest hotel companies in the U.S. have over $10 billion in assets under management in their retirement plans, making these plans a key component in retirement investment decisions
Differential Evolution: A Tool for Global Optimization
Get PDFThis report describes a tool for global optimization that implements the Differential Evolution optimization algorithm as a new Excel add-in. The tool takes a step beyond Excel’s Solver add-in, because Solver often returns a local minimum, that is, a minimum that is less than or equal to nearby points, while Differential Evolution solves for the global minimum, which includes all feasible points. Despite complex underlying mathematics, the tool is relatively easy to use, and can be applied to practical optimization problems, such as establishing pricing and awards in a hotel loyalty program. The report demonstrates an example of how to develop an optimum approach to that problem