Cornell Hotel School Presents 2007 Hospitality Industry Relevance Awards
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Cornell Hotel School Presents 2007 Hospitality Industry Relevance Awards
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Category: Worldwide -
This is a press release selected by our editorial committee and published online for free on 2007-05-18
Revenue Management and Human Resources Reports Earn Cornell Awards
Cornell’s Center for Hospitality Research has bestowed its 2007 Industry Relevance Awards on two reports, “An Examination of Revenue Management in Relation to Hotels' Pricing Strategies,” by Cathy Enz and Linda Canina, and “Retaining Management Talent: What Hospitality Professionals Want from Their Jobs,” by Masako Taylor and Kate Walsh. Enz, Canina, and Walsh are faculty members at the School of Hotel Administration, and Taylor was a doctoral student at the time of the study. These two reports were selected from all reports and tools published by the Center between 2003-2006.
The award winners were selected using three criteria, the number of downloads from the Center’s website (www.chr.cornell.edu), the results of a survey of frequent downloads for Center materials, and input from the Center’s Advisory Board. These and all Center reports are available at no charge at http://www.hotelschool.cornell.edu/chr/research/centerreports/.
In the revenue management study, Enz and Canina examined which companies used revenue management to the fullest extent. They found that the hotels that priced just higher than their competitors were making the fullest use of revenue management.
For the management talent study, Taylor and Walsh studied recent Hotel School graduates to determine what they want from their jobs. What they found out is that these relatively young managers want to learn more as they work so that they can advance in their careers.
There were also three finalists named, whose studies focused on hotel rate issues. They were, “Why Customers Shop Around: A Comparison of Hotel Room Rates and Availability across Booking Channels,” by Gary Thompson and Alexandra Failmezger, which examined why customers shop for hotel rate deals; “Best Available Rate Pricing at Hotels: A Study of Customer Perceptions and Reactions,” by Sheryl Kimes and Kristin Rohlfs, which found that travelers would be just as happy to be given the lowest possible rate for each night, rather than an average blended rate for the whole stay; and “Low Price Guarantees: How Hotel Companies Can Get It Right,” by Steve Carvell and Dan Quan, which proposed a way to apply option-pricing principles to hotel reservations (to prevent shopping around).
About The Center for Hospitality Research
A unit of the Cornell School of Hotel Administration, The Center for Hospitality Research (CHR) sponsors research designed to improve practices in the hospitality industry. Under the lead of the Center’s 55 corporate affiliates, experienced scholars work closely with business executives to discover new insights into strategic, managerial and operating practices. The Center also publishes the award-winning hospitality journal, the Cornell Hotel and Restaurant Administration Quarterly. To learn more about CHR and its projects, visit www.chr.cornell.edu.
CHR Partners and sponsors: AIG Global Real Estate Investment, Denihan Hospitality Group, Expedia, Inc., Four Seasons Hotels and Resorts, HVS International, JohnsonDiversey, Inc., Kohinoor Group, Marriott International, Inc., Marsh’s Hospitality Practice, Mobil Travel Guide, Nestlé, PricewaterhouseCoopers, Proskauer Rose LLP, Smith Travel Research, Southern Wine and Spirits of America, Inc., SynXis (a Sabre Holdings Corporation), Taj Hotels Resorts and Palaces, Thayer Group of Companies, Travelport, and Wimberly Allison Tong & Goo.
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