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Utility and Disruption: Technology for the Entrepreneurs in Hospitality: Highlights from the 2015 Technology Entrepreneurship Roundtable
No full textThe inaugural Technology Entrepreneurship Roundtable brought thirty leading tech professionals and entrepreneurs to the Cornell University School of Hotel Administration during the spring 2015 semester. Participants examined the growth of the cloud and the resulting opportunities for entrepreneurs to break into established markets, notably by using mobile devices in remote and shared office spaces, streamlining documents and systems to prevent redundancy, and decreasing operating and switching costs while minimizing the need for established infrastructure. Given the economic flexibility afforded by renting assets, rather than owning them, consumers and entrepreneurs have driven the expansion of the so-called sharing economy. The support of venture capital has been critical for such entrepreneurial technology in the hospitality and travel industry. Technology is also key to the growing customer desire to have a personalized travel experience, which can become a challenge to established brands. Many of these tech-supported enterprises are disruptors that respond to consumers’ desire for options as they travel. To counter the disruptions and re-emphasize their standing, brands need to use market analytics when engaging with customers and to plan for using predictive analytics
The New Science of Service Innovation: Part 4 Select Research on People
Get PDFSelect Research on People from the 2014 Cornell Hospitality Research Summit
Technology is essential, data has become indispensable, and organizations remain fundamental, but people—both employees and customers—have been and will continue to be the core element of the hospitality and service industries. The Cornell Hospitality Research Summit (CHRS) held in October 2014 was organized to examine service innovation in a new light, focusing on a scientific and disciplined approach to the topic. This is the final report in the series of four that feature expanded summaries of select research on service innovation based on CHRS presentations. This third report highlights innovative strategies related to people—both employees and customers—including the differences in how customers view tangible and intangible premiums connected to a service experience, the effect of culture on innovation, and the differential approach that women take to service businesses, as compared to other industries.
This report highlights research presentation from the summit addressing service experiences and women entrepreneurs: • “Managing Service Experience with Experiential vs. Material Complimentary Premiums,” by HaeEun Helen Chun and Yue Woon Hiang (page 3) • “Women Entrepreneurs in the Consumer Services Sector,” by Michele Williams (page 8) • Implications of National Culture for Incremental and Radical Service Innovation, by Muge Yayla- Kullu, Jeffrey Durgee, Adelina Gnanlet, Christopher McDermott, and Praowpan Tansitpong (page 13) • “The Use of Video and Storyboard Experiments to Test Service Innovations,” by Michael Dixon, Liana Victorino, Rob Kwortnik, and Rohit Verma (page 16
The New Science of Service Innovation: Part 2 Select Research on Organizations
No full textSelect Research on Organizations from the 2014 Cornell Hospitality Research Summit
It goes without saying that change is inevitable in hospitality and service organizations, as the competitive marketplace changes and as the interaction between organizations and their customers and employees evolve. The Cornell Hospitality Research Summit (CHRS) held in October 2014 was organized to examine service innovation in a new light, focusing on a scientific and disciplined approach to the topic. This report is the second of four that feature expanded summaries of select research on service innovation. This second report highlights innovative strategies related to organizational change, including an unexpected outcome for implementing change in European organizations, how to identify and market to “persuadable” guests, and proposed new directions for hotel rating systems.
This report highlights six research presentation addressing organizational issues:• “What Your Guests Seek in a Hotel Stay,” by John Timmerman and Daniela Yu (page 3); • “Implementing Innovation in European Hotels” by Cathy Enz and Sean Way (page 8); • “Focusing Direct Marketing Promotions on the Persuadable Guest,” by Richa Kapoor, Anil Kaul, and Guha Athreya (page 11); • “Using Eye Tracking to Understand Consumers’ Consideration in the Online Lodging Purchase Decision, by Breffni Noone and Stephani Robson (page 13); • “Incorporating Guest Reviews into Hotel Classification Systems: A Modest Proposal,” by Anita Bloomberg-Nygard, Chris Anderson, and Christopher Imbsen (page 16); • “Elements of a World Hotel Rating System,” by Roger Kaiser (page 20
The United States Supreme Court Rules in Favor of Employees in the Young and Abercrombie Cases: What Do They Really Hold?
Get PDFTwo recent decisions by the U.S Supreme Court have been characterized as “losses” for employers, and “wins” for employees who wish to have workplace accommodations due to their particular situations. Those perceptions are demonstrated in the popular press reports regarding the decisions, shown in the sidebar on the next page. While the employee indeed prevailed in both of those Supreme Court holdings, neither one indicates that the sky is falling for employers nor that nirvana has been reached for employees. Instead, the Young and Abercrombie decisions are so narrow that it is nearly impossible to determine what they really stand for. With that in mind, the purpose of this article is to dispel any myths regarding these cases, to set forth a detailed analysis of the Supreme Court’s holdings, and to outline how employers should react, subject to advice of counsel
Have Minimum Wage Increases Hurt the Restaurant Industry? The Evidence Says No!
No full textFederal, state, and local laws in the U.S. specify the minimum wages to be paid in their jurisdictions. Recent years have seen an increased interest among many in raising those minimum wages, and there has been some movement at the local, state, and federal levels to do so.1 Proposals to increase the minimum wages have been opposed by the restaurant industry on the grounds that such increases would require restaurants to cut hiring, raise prices, or both.2 Either reaction is thought to reduce customer satisfaction and demand, as well as restaurant profitability and survival. Although this piece of conventional wisdom seems entirely plausible, we wanted to test whether this is the case, especially in view of studies that have found no such negative outcomes (or tiny outcomes, at worst). Consequently, in this report, we address the question of whether increases in the minimum wages have the negative effects widely expected by the restaurant industry
Third Quarter 2015: Have Hotel Prices Peaked?
No full textThe price of large and small hotels appears to have peaked, based on our Standardized Unexpected Price (SUP) metric. Hotel investment based on operating performance is in the black (breakeven). Indicators that hotel prices should start to level off or decline include the historical cycle analysis, a continued rise in cost of debt financing, a widening of the relative risk premium for hotels, higher total risk for hotels relative to other commercial real estate, and continued declines in the hotel REIT index, business confidence index, and the architecture billings index. This is report number 16 of the index series
Herd Journalism: Investment in Novelty and Popularity in Markets for News
Get PDFConsumers of news care both about the novelty of the news they read, as well as how popular that news topic is with others. Editors choose what to report on based on consumer preferences and the coverage of their competitors. We build a continuous time model that predicts whether news providers invest in covering novel news stories or instead report on popular. We construct a dataset of cover stories to test the model and find that both novelty and popularity are associated with increased sales, but popular stories only have a lifespan of one to two weeks. We find that the impact of novelty has declined since 2006, and the lifespan of a story has shortened. While theory predicts that editors strategically alternate between reporting on novel stories and popular stories, we find evidence of positive serial correlation in the popularity of cover stories. Finally, news outlets often cover the same story. Theory predicts that competitive news outlets are more likely to pool on the stories they cover while news outlets with market power are more likely to separate
Déjà Vu? An Updated Analysis of the Gender Wage Gap in the U.S. Hospitality Sector
No full textDrawing on a random sample of 112,990 people working in the U.S. hospitality sector in 2010, this study found strong evidence that there remains a significant difference in the income of women and men working in the industry, even after accounting for likely explanations such as differences in educational attainment and hours worked, as well as structural forms of discrimination such as occupational crowding. Across the entire hospitality industry, after controlling for these factors, being a woman was associated with a loss of income of 11,271 per year. For the food service sector, being a woman cost 9,339, and for the lodging sector, the gender penalty was 17,783. However, managers faced the most severe penalties, as being a woman cost 30,577 (21.6%). This study echoed findings of a study that used 1989 data, which also found that women were paid substantially less than men across the entire industry. While the 2010 study data showed at least some progress toward wage equality, the wage difference remains noticeable despite the advancement of women in professional and executive positions in the United States in general, and specifically within the hospitality industry
Letter from the Editors
Get PDF[Excerpt] We are excited and honored to present the 13th Volume of the Cornell Real Estate Review, a student edited and managed publication with oversight from faculty in the Baker Program in Real Estate at Cornell University. A continuation of the tradition of thought leadership in real estate, the Review strives to promote practical learning and introduce readers to new concepts and practices. As editors, it is our duty to join scholarly discourse with professional applicability and to create a publication that reflects the values of the Baker Program in Real Estate
A Competency Model for Club Leaders
Get PDFTo ensure the success of a service organization, leaders must have skills and abilities to shape service systems and guide employees to deliver the service experience. So far, however, we have yet to see a set of leadership competencies required for service businesses—let alone those needed for the club business. As a result, we cannot provide new managers with the competencies they need to develop in their careers. To address this issue, we conducted a survey of 596 club managers to examine the leadership competencies required for general managers of private clubs. The club industry has the classic characteristics of other types of service businesses, meaning that managers are guiding staff members in relatively low-skilled jobs to fulfill guests’ wants and needs. However, clubs are distinguished from other service organizations by the presence of their members, who are long-term clients that have a strong connection with their clubs. Given that club general managers must report to the members’ board of directors, the interactions between club members and managers create a distinctive dynamic, which likely makes skills related to guest needs’ and interactions even more salient