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  • New Global Directors Join the 2018-2019 HFTP Board

    The HFTP 2018-2019 Global Board of Directors was installed during the association's 2018 Annual Convention and introduces new directors Toni Bau, Carson Booth, CHTP and Mark Fancourt. These extensive director profiles give insight into the distinguished professions and personal goals of HFTP's newest association leaders.

  • Letter from the HFTP Global President: At the End of the Year, We Reflect on the Best of the Year

    As we prepare to transition to the new HFTP Global board at the 2018 Annual Convention in October, I would like to take the time to reflect on my year serving as HFTP Global president.

  • Members Only: 2018 HFTP Compensation and Benefits Report

    By Tanya Venegas, MBA, MHM, CHIA. Results to the biannual survey conducted by Hospitality Financial and Technology Professionals (HFTP). Information includes data on compensation and benefits trends for finance and technology professionals in the club and lodging industries.

  • IT Spending in the Lodging Industry Three-year Analysis: 2015–2017

    By Agnes DeFranco, Ed.D., CHAE; Arlene Ramirez, CHE, CHAE; and Tanya Venegas, MBA, MHM, CHIA. PART II: An analysis of IT spending data in the lodging industry based on reporting in the new USALI Schedule 6 — Information and Telecommunications Systems.

What Do Hotel Guests Really Want? Anticipated Versus Actual Use of Amenities

Cornell University School of Hotel Administration - Research & Publications·18 September 2018
Hotels provide a lengthy menu of amenities based on the (largely accurate) perception that guests want those amenities and claim they will use them. While many guests do exactly that, a substantial percentage will “overpredict” which amenities they will use. This study of fifty hotel-wide and in-room amenities details both the overpredictions and, in some cases, underpredictions of amenity use by 724 guests in thirty-three hotels operated by six hotel brands—one upscale, two upper upscale, and three luxury—belonging to one hotel company.

The Real Oscar Curse: The Negative Consequences of Positive Status Shifts

Cornell University School of Hotel Administration - Research & Publications·13 September 2018
We examine the negative consequences of upward mobility following a sudden positive status shift. Building on sociological and social psychological research on status and happiness, we argue that status disruption and status deprivation provide different explanations of why sudden positive status shifts can have negative consequences for upwardly mobile social actors. We use the “Oscar curse,” the colorful belief that misfortune paradoxically befalls Academy Award winners, as our empirical context for studying the negative consequences of positive status shifts.

Technological Change as Reflected in Hotel Property Prices

Cornell University School of Hotel Administration - Research & Publications·27 August 2018
This paper investigates the effects of age on the sale prices of hotel real estate. Value erosion of commercial property due to the passage of time may be offset by renovation, although substantial follow-on investment usually occurs several years following construction. Obsolescence produces value losses during the post-construction period prior to new investment that result from technological change (Colwell & Ramsland, Journal of Real Estate Finance and Economics, 8(1), 47-63, 2003).

High Performance Work Systems for Service Quality: Boundary Conditions and Influence Processes

Cornell University School of Hotel Administration - Research & Publications·27 August 2018
Drawing on agency theory and the resource-based view, this study examines the moderating effect of hotel ownership structure on the relationship between high-performance work systems for service quality (HPWS-SQs) and service performance as well as the curvilinear relationship between hotel service performance and hotel profitability. Results from surveys and archival data of 126 hotels showed that when hotels were owned and operated by

Electronic Commerce and World Wide Web Apprehensiveness: An Examination of Consumers' Perceptions of the World Wide Web

Cornell University School of Hotel Administration - Research & Publications·27 August 2018
Required Publisher Statement: (c) Wiley. Reprinted with permission. All rights reserved. Final version published as: Susskind, A. M. (2006). Electronic commerce and world wide web apprehensiveness: An examination of consumers' perceptions of the world wide web.

Bundling and Scheduling Service Packages with Customer Behavior: Model and Heuristic

Cornell University School of Hotel Administration - Research & Publications·27 August 2018
Past researchers have found evidence that customers consider the sequence of event utility when evaluating past and future service experiences. Specifically, the evidence confirms that the placement of a peak event, the utility of the last event, and the slope of event utility over time all affect customer behavior and perception.

Deciding Whether to Offer "Early-Bird" or "Night-Owl" Specials in Restaurants: A Cross-Functional View

Cornell University School of Hotel Administration - Research & Publications·27 August 2018
In a long history of capacity and demand management research in services, it has often been suggested that pricing discounts and specials can increase demand in off-peak periods. We examine this issue in the contexts of restaurants, where the practices of offering discounts to restaurant patrons for dining early or dining late--commonly known as "early-bird" and "night-owl" specials, respectively--exist throughout the world.

Multiunit Restaurant Productivity Assessment Using Three-Phase Data Envelopment Analysis

Cornell University School of Hotel Administration - Research & Publications·27 August 2018
This paper focuses on uncontrollable variables' effects on multiunit restaurant productivity using data envelopment analysis (DEA). We argue the importance of first considering managerially uncontrollable (nondiscretionary) variables as inputs in the actual DEA model, with managerially controllable variables considered post hoc for their relationship to the efficiency scores.

A Comparison of Heuristics for Assigning Individual Employees to Labor Tour Schedules

Cornell University School of Hotel Administration - Research & Publications·27 August 2018
The labor tour scheduling literature has focused on the development of schedules, and with a few exceptions, employees were assumed to have identical cost and productivity. Even the few exceptions in the literature that solved tour problems considered employees within a work group to have identical cost and productivity.

Strategies for Integrating Capacity with Demand in Service Networks

Cornell University School of Hotel Administration - Research & Publications·27 August 2018
Service managers face the problem of simultaneously developing and implementing both capacity and demand management strategies. Often they must choose between marketing options, for shifting or increasing demand, or operations management options such as adding additional capacity via more equipment or employees. The interaction of these two functional area strategies can have surprising, unintended, and often detrimental outcomes from a profit perspective.

A Morphing Procedure to Supplement a Simulated Annealing Heuristic for Cost- and Coverage-Correlated Set-Covering Problems

Cornell University School of Hotel Administration - Research & Publications·27 August 2018
We report on the use of a morphing procedure in a simulated annealing (SA) heuristic developed for set-covering problems (SCPs). Morphing enables the replacement of columns in solution with similar but more effective columns (morphs). We developed this procedure to solve minimum cardinality set-covering problems (MCSCPs) containing columns which exhibit high degrees of coverage correlation, and weighted set-covering problems (WSCPs) that exhibit high degrees of both cost correlation and coverage correlation.

Patient Experience Rx: Healing the Whole Human Insights from the 2018 CIHF Mini-Symposium

Cornell University School of Hotel Administration - Research & Publications· 9 August 2018
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.
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Benchmarking Index 2018: Carbon, Energy, and Water

Cornell University School of Hotel Administration - Research & Publications· 2 August 2018
The 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.
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Second Quarter 2018: Is It Still "Hot" This Summer?

Cornell University School of Hotel Administration - Research & Publications·31 July 2018
Hotels 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.
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Labor Scarcity, Finance, and Innovation: Evidence from Antebellum America

Cornell University School of Hotel Administration - Research & Publications·22 June 2018
This paper establishes labor scarcity as an important economic channel through which access to finance shapes technological innovation. We exploit antebellum America, a unique setting with (1) staggered passage of free banking laws across states and (2) sharp differences in labor scarcity between slave and free states. We find that greater access to finance spurred technological innovation as measured by patenting activities, especially in free states where labor was relatively scarce. Interestingly, in slave states where slave labor was prevalent, access to finance encouraged technological innovation that substituted for free labor, but discouraged technological innovation that substituted for slave labor.
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The Real Effects of Sharing Economy: Evidence from Airbnb

Cornell University School of Hotel Administration - Research & Publications·22 June 2018
Sharing economy has developed rapidly in recent years, but little is known regarding its real effects. This paper examines how a pioneer of sharing economy-Airbnb-affects local economy. Using venture capital infusions as plausibly exogenous shocks to Airbnb's expansion into a new county, we find that Airbnb expansion leads to poorer hotel performance in the local county. Meanwhile, Airbnb expansion appears to reduce unemployment rate and increase household income. Further analysis suggests that increased employment is concentrated in industries that are complementary to Airbnb's business and in employee groups with lower education levels. Our study sheds new light on the real effects of the sharing economy and provides important policy implications for policymakers.
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The Role of Coordinated Marketing-Operations Strategy in Services: Implications for Managerial Decisions and Execution

Cornell University School of Hotel Administration - Research & Publications·22 June 2018
Purpose In this article, we discuss the importance of a coordinated marketing and operations strategy in goods and service producing business organizations. Customer engagement and co-production are imperative service delivery considerations, and therefore an aligned marketing and operations strategy is essential for the formulation, development, and effectiveness of managerial decisions especially for service sector firms. Design/Methodology/Approach We present arguments in support of this paper's primary objectives by reviewing past research that have introduced theoretical frameworks, empirical support and applications in support of the close coordination between marketing and operations strategy. We then describe how the interrelationship between marketing and operations strategy impacts several managerial decisions. Findings We discuss several different types of managerial decisions within goods and service producing firms that require active interaction between marketing and oper
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Lodging Stocks Outperform Casinos on Wall Street, Reversing Their 1992-93 Performance

Cornell University School of Hotel Administration - Research & Publications·22 June 2018
A comparison of the stock market performance of lodging stocks and casino stocks over the past year reveals returns superior to the S&P500 for both groups. Over the 52-week period ending March 18, 1994, the average price of a sample portfolio of lodging stocks rose 61.6%, and a corresponding portfolio of casino stocks advanced 37.2%, compared with the S&P500's 4.6% return over the same period. The gain for lodging stocks represents a sharp rebound from the prior 52-week period, but a slowdown for the casino stocks. The strong showing of these stocks over the last year, as well as the changes in relative performance can be explained by an analysis of measures of fundamental value, such as the profit margin, return on equity, and return on assets, as well as structural changes in the industries. Interest in lodging and casino stocks by institutional investors is encouraging, but significant uncertainties, in particular with respect to taxation of gaming revenues and legalization of speci
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How Strong is the Pull of the Past? Measuring Personal Nostalgia Evoked by Advertising

Cornell University School of Hotel Administration - Research & Publications·22 June 2018
Marketers frequently evoke personal nostalgia in their advertising. To date, scales have been developed to measure the propensity to get nostalgic but not the actual dimensions of personal nostalgia. Results from four studies show that advertising evoked personal nostalgia comprises four correlated but distinct dimensions: past imagery, positive emotions, negative emotions, and physiological reactions. This multidimensional scale showed a high level of validity and reliability. Moreover, due to careful choice of sampling frames, the study demonstrates a high level of external generalizability. Evaluating nostalgia-based advertising using the study's multidimensional scale may provide marketers with strategic insights for developing and fine-tuning advertising aimed at inducing nostalgia among consumers.
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Assigning Telephone Operators to Shifts at New Brunswick Telephone Company

Cornell University School of Hotel Administration - Research & Publications·14 June 2018
I developed a procedure for assigning telephone operators to shifts at New Brunswick Telephone Company (NBTel). Al though the problem has received scant attention in the literature, its solution greatly affects employees' satisfaction with their work schedules. NBTel requires that all shifts be assigned to employees, and it is obligated contractually to satisfy preferences for shifts in order of employee seniority. The specialized shift assignment heuristic (SSAH) that I developed runs on a personal computer, generating approximately three solutions per second. Employee and shift databases are maintained in a spreadsheet, and macros are used to integrate the heuristic into the spreadsheet. Both management and employees see SSAH as an improvement over the previous manual procedure.
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Labor Staffing and Scheduling Models for Controlling Service Levels

Cornell University School of Hotel Administration - Research & Publications·14 June 2018
The problems of labor staffing and scheduling have received substantial attention in the literature. We introduce two new models of the labor staffing and scheduling problems that avoid the limitations of existing models. Collectively, the models have five important attributes. First, both models ensure the delivery of a minimally acceptable level of service in all periods. Second, one model can identify the least expensive way of delivering a specified aggregate level of customer service (the labor staffing problem and a form of labor scheduling problem). Third, the other model can identify the highest level of service attainable with a fixed amount of labor (the other form of the labor scheduling problem). Fourth, the models enable managers to identify the pareto relationship between labor costs and customer service. Fifth, the models allow a degree of control over service levels that is unattainable with existing models. Because of these attributes, which existing models largely do not possess, we expect these models to have broad applicability in a wide range of organizations operating in both competitive and noncompetitive environments.
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Leaving Talent on the Table? The Importance of Developing and Retaining Women Leaders

Cornell University School of Hotel Administration - Research & Publications·12 June 2018
While it’s been twenty years since McKinsey & Co. first coined the term ‘War for Talent’, many companies continue the fight to attract and retain the best and brightest. In an increasingly dynamic and competitive marketplace, retaining human capital can, literally, be the difference between life and death.
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A Glimpse into the Future of Work

Cornell University School of Hotel Administration - Research & Publications·12 June 2018
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.
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HR Metrics and Talent Analytics

Cornell University School of Hotel Administration - Research & Publications· 8 June 2018
Once again, there is buzz about organizations working to apply numbers to managing their talent. The opportunities created by "big data' in human resources (HR), along with the continuous pressure for greater effectiveness and productivity, have renewed calls for more analytical HR management as the way of the future. But we have heard this call in HR many times.
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A Morph-Based Simulated Annealing Heuristic for a Modified Bin-Packing Problem

Cornell University School of Hotel Administration - Research & Publications· 8 June 2018
This paper presents a local-search heuristic, based on the simulated annealing (SA) algorithm for a modified bin- packing problem (MBPP). The objective of the MBPP is to assign items of various sizes to a fixed number of bins, such that the sum-of-squared deviation (across all bins) from the target bin workload is minimized. This problem has a number of practical applications which include the assignment of computer jobs to processors, the assignment of projects to work teams, and infinite loading machine scheduling problems.
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The Impact of Supertasters On Taste Test and Marketing Outcomes: How an Innate Characteristic Shapes Taste, Preference, Experience, and Behavior

Cornell University School of Hotel Administration - Research & Publications· 8 June 2018
This article introduces advertisers to a new segmentation technique based on an individual's inherited taste sensitivity-that is, the 'supertaster.' Three studies demonstrate that this inherited supertaster difference can explain blind taste-test anomalies, such as the Pepsi Challenge; heightened brand loyalty; and a reduced sensitivity to peripheral product cues, such as visual variations. These findings underscore a new vein of segmentation that has great promise for explaining variance in lab, expert, and crowd-sourced evaluations involving matters of taste.

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