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CQ: From the (New) Editor
Full text link[Excerpt] Great to be back! I am delighted to have the opportunity to take the reins of the Cornell Hospitality Quarterly (CQ) for a second term. I offer a huge and heartfelt thanks to Mike Lynn for his service and leadership. Mike has had a very successful 3 years at the helm, and his efforts have had an increasingly positive impact on the journal’s standing. The numbers look great, so the transition will be easy
Learning to Become a Taste Expert
No full textEvidence suggests that consumers seek to become more expert about hedonic products to enhance their enjoyment of future consumption occasions. Current approaches to becoming expert center on cultivating an analytic mindset. In the present research the authors explore the benefit to enthusiasts of moving beyond analytics to cultivate a holistic style of processing. In the taste context the authors define holistic processing as non-verbal, imagery-based, and involving narrative processing. The authors conduct qualitative interviews with taste experts (Master Sommeliers) to operationalize the holistic approach to hedonic learning, and then test it against traditional analytic methods in a series of experiments across a range of hedonic products. The results suggest that hedonic learning follows a sequence of stages whose order matters, and that the holistic stage is facilitated by attending to experience as a narrative event and by employing visual imagery. The results of this multi-method investigation have implications for both managers and academics interested in how consumers learn to become expert in hedonic product categories
Second Quarter 2018: Is It Still Hot This Summer?
No full textHotels in gateway cities continue to shine, rising 11.6 percent year over year compared to a 1.2-percent gain for hotels in non-gateway cities. Hotel operating performance scaled by price is still in the black based on economic value analysis (EVA), with returns continuing to exceed borrowing costs (for debt). However, the spread is narrowing, suggesting that deals will be harder to pencil going forward. Transaction volume rose both on a quarter-over-quarter and year-over-year basis. While our various pricing metrics point to continued positive price momentum for both large and small hotels, we are concerned whether rising interest rates will put a damper on this momentum. A reading of our tea leaves suggests prices will continue to increase, but do so at a decreasing rate. This is report number 27 of the index series
Benchmarking Index 2018: Carbon, Energy, and Water
Full text linkThe fifth annual Cornell Hotel Sustainability Benchmarking study includes data from substantially more hotels than in all previous years. While the bulk of the data come from hotels in the United States, the study also recorded a greater international participation, with fifty-one nations and thirteen international brands represented. More than 10,400 hotels contributed information regarding their energy and water use, as well as greenhouse gas emissions. Complete as of 2016, the data show that the participating hotels generally have continued to reduce their energy and water usage, although the energy intensity recorded by luxury hotels continues to be relatively high. While these data will permit hoteliers and potential guests to see benchmarks for various hotel segments and locations, individual hotel amenities cannot be accounted for in terms of energy or water use. The study was supported by over a dozen international hotel firms, namely, Club Med Resorts, Hilton Worldwide, Host Hotels & Resorts, Hyatt Hotels Corporation, InterContinental Hotels Group, Mandarin Oriental Hotel Group, Marriott International, MGM Resorts International, Park Hotel Group, Saunders Hotel Group, Six Senses Hotels Resorts Spas, The Hongkong and Shanghai Hotels, and Wyndham Worldwide. Data collection is now underway for the 2019 study, and the author encourages additional hotels to participate, especially those in the lower tier segments, which are not as strongly represented in these data
Alumni Highlight: Ian McKay
No full textIan McKay is a member of the Portfolio Management team at Clarion Partners. Ian manages projects for the firm’s value-add and development funds. Prior to Clarion Partners, Ian worked as a Summer Associate in the New York Development Group at The Related Companies in Manhattan. There, his responsibilities included acquisitions and deal structuring functions for multifamily and mixed-use developments. Ian holds a Masters Degree in Real Estate Finance from Cornell University and BS/BA from Babson College. Ian is a member of ULI and the ULI Multifamily Bronze Council
Table of Contents
Full text linkTable of contents for Cornell Real Estate Review (2018), Volume 16, Issue 1
We Can Thank Harvey Weinstein for Doing What Congress and the Supreme Court Failed to Do
No full textWhile the years 2017 and 2018 will be remembered for numerous geo political and social movements, any retrospective of this time will include the issue of sexual harassment and the corresponding “Me Too” movement. In this time, sexual harassment has transformed from a workplace legal concept to an issue that is defining the fabric of the country. While no one could persuasively argue that sexual harassment has not expanded from its legal roots to a movement that transcends the law, the fact is that the concept is rooted and adjudicated in law. Sadly, the commentators and the popular press often ignore or misstate the law. This creates a dangerous culture where the public is misinformed of their rights and responsibilities. More troubling, is the fact that there are serious problems with the law that need to be understand and, we contend, changed, in order for the entire problem to be eliminated, or, at least, mitigated. This paper explains the law with regard to what constitutes sexual harassment and when the employer is liable, identifies the problems, and proposes a fix so that we can create a future workplace where the authors’ five daughters (between them) and the rest of their generation will be able to honestly not raise their hands and not have to say: “Me Too!
A Glimpse into the Future of Work
Full text link[Excerpt] In this Instagram age of texts and tweets, it should come as no surprise that the most important and complex workplace challenge facing CEOs and CHROs is neatly summarized by the acronym ‘FoW’. Forget YOLO, FOMO or even VUCA, the Future of Work (FoW) is top of mind for global leaders as they wrestle with exactly what it means and how to best prepare their organizations for a future that is increasingly hard to predict. The good news? An April 2018 study by Catalant found that 63% of surveyed companies had a FoW plan in place1. The bad news? By the time the proverbial ink is dry, those plans may be woefully out of date or misaligned to the changing dynamics of the FoW
Patient Experience Rx: Healing the Whole Human Insights from the 2018 CIHF Mini-Symposium
Full text link[Excerpt] The Cornell Institute for Healthy Futures (CIHF) sponsored a mini-symposium on April 12 and 13 that explored the shift toward a consumer-centered approach in healthcare. Nearly 100 industry experts, scholars, hospital and senior living administrators, physicians, nurses, architects, and students attended the conference at Cornell’s Statler Hotel.
The symposium opened with a discussion of the current state of the patient experience and the barriers standing in the way of a patient-centered healthcare system. The conference then examined the needs of patients and the innovations healthcare facilities are developing to improve patient outcomes. It concluded with a look at the way technology is changing the delivery of care and how healthcare facilities are identifying different segments of the patient population to offer new levels of service in addressing their medical needs