Table of Contents

Cover

Title

Copyright

Dedication

Foreword

Chapter 1: Four Paths to Success in the Hospitality Industry

Organization of the Book

Paths to Your Success

Chapter 2: The Essence of Hospitality and Service

The Meaning of Hospitality

The Meaning of Service

The Intersection Of Hospitality And Service

Part I: Success in Your Hospitality Career

Chapter 3: Preparing for a Successful Career in the Hospitality Industry

Hospitality Career Opportunities

Building On Your Current Mix Of Skills

Developing Your Unique Human Capital

You As a Leader

What To Do Today

Notes

Chapter 4: The Listening Fast Track

Stop Making Mistakes

Bring Everyone Together—Be a Hero

Begin by Listening Inside Your Organization

Listening Is the Fast Track—Follow It

Know Yourself

Learn How to Get on Track

First Stop: Pay Attention

Second Stop: Understand the Message

Third Stop: Understand the Person Speaking

Fourth Stop: Remember What They Tell You

Get on Board: Develop and Practice Your Listening Skills

Notes

Chapter 5: Developing and Managing Your Multinational Career

Like It or Not, Hospitality Is an International Industry

Lining Up Opportunities

Coming Home

Notes

Chapter 6: Becoming a Leader in the Hospitality Industry

Step 1. Understand Yourself

Step 2. Understand Your Organization

Step 3. Establish Objectives and Provide the Direction

Step 4. Acknowledge Good Performance and Correct Poor Performance

Step 5. Be Flexible and Willing to Adapt

Toward Stronger Leadership

Notes

Part II: Success Through Operations and Service Excellence

Chapter 7: Understanding and Predicting Customer Choices

Asking about Decision Factors

Assessing Customer Choices

Managerial Insights from Discrete Choice Modeling

Notes

Chapter 8: Guiding the Guest Experience

How to Increase Awareness

Improving the Experience before the Guest Arrives

Notes

Chapter 9: Harnessing the Power of Your Culture for Outstanding Service

Culture Defined

Communicating the Culture

Teaching the Values

Harnessing Your Company’s Culture

Strategy and Employee Commitment

What We Know about Culture

Notes

Chapter 10: A Scientific Approach to Managing Hospitality Operations

Good Data Is a Necessity

Example 1—Restaurant Table Mixes

Example 2—Workforce Staffing

Note

Chapter 11: Motivating Your Staff to Provide Outstanding Service

Motivating Employees

Financial Rewards

Types of Performance-Based Financial Rewards

Nonfinancial Rewards

The Motivating Characteristics of the Job

Putting the Pieces Together

Notes

Chapter 12: How to Build Service Quality into Your Operation

Service Quality Assurance

Transaction-Focused versus Relationship-Focused Process Design

Complaint Management

Guest Measurement Systems

Toward Consistently Excellent Service

Notes

Chapter 13: Demand Management

Congratulations! You Now Are a Demand Manager

Why Is Hospitality Demand Unique?

Managing Demand in Your Competitive Set

The Rise of Electronic Demand

The Brave New World of Distribution

Demand Management: Regional and Local Functions

A Work in Progress

Notes

Chapter 14: Revenue Management for Enhanced Profitability

Revenue Management Actions

Performance Measurement

Notes

Chapter 15: Competing Successfully with Other Hotels

What Is Strategy?

Set a Direction

Analyze the Business Situation

Choose a Competitive Strategy

Deploying Key Resources

Going Forward with Strategic Thinking

Notes

Chapter 16: Focus on Finance

Income Statement

Balance Sheet

How Is My Operation Doing?

Notes

Part III: Success as a Real Estate and Business Owner

Chapter 17: Hospitality Property Ownership

What It Means to Be an Owner

Why You Would Want to Own a Hotel

Ownership in the Hospitality Industry

What to Consider if You Want to Become an Owner

Ownership Structure of the Hospitality Industry

Hotel and Restaurant Ownership Structures

Analysis of Structures

Notes

Chapter 18: Hospitality Properties

Factors to Consider When Making Investment Decisions

Know How You Will Get Out before You Get In!

Value Is Everything! Market Value and Investment Value

Buying and Selling Hospitality Properties and Businesses

Notes

Chapter 19: Gaining Maximum Benefit from Franchise Agreements, Management Contracts, and Leases

Franchise and License Agreements

Management Contracts versus Leases

Hotel Leases

Notes

Chapter 20: Developing and Renovating Hospitality Properties

Formation of Development Teams

The Development Process

Chapter 21: Planning and Programming a Hotel

Programming Guestrooms

Programming Public Areas

Conclusion

Notes

Chapter 22: Measuring Hotel Risk and Financing

Hotel Risk

Measuring Hotel Risk

Hotel Financing—Loan Choice

Conclusion

Note

Part IV: Success Through Managerial Excellence

Chapter 23: Segmenting and Targeting Your Market

How to Segment Markets and Select Target Segments

The Limits of Strategic STP Marketing

Targeting Frequent Buyers

Summary

Notes

Chapter 24: New Media

Media Measurement and Players in Evolution

Social Media

Mobile Media

Restaurants: So What Do I Do?

Hotels: So What Do I Do?

Conclusion

Notes

Chapter 25: Building and Managing Your Brand

What Is a Brand?

The Brand-Affiliation Decision

Going Independent—Building Your Brand

Brand Testing and Monitoring

Notes

Chapter 26: Hotel Revenue Management in an Economic Downturn

Considerations in a Price War

Advice from the Front Lines

Conclusion

Notes

Chapter 27: Addressing Employee Lawsuits

What Is the Law?

The Adjudication Process

How Courts Analyze and Adjudicate Discrimination Cases

The ADA

Sexual Harassment

How to Avoid Discrimination

Notes

Chapter 28: Coordinating Information and Controlling Costs

Assigning Organizational Units Financial Responsibility

Measuring Your Manager’s Financial Contribution

Conclusion

Notes

Chapter 29: Making the Most of Your Human Capital

The Importance of Human Capital in the Hospitality Industry

Human Capital Best Practices

Notes

Chapter 30: You Can’t Move All Your Hotels to Mexico

The National Labor Relations Act

Union Summer 2006

How to Address Union Issues for Nonunion and Union Hotels

Notes

Chapter 31: The Integrity Dividend in Hospitality Leadership

The Integrity Dividend Demonstrated

Integrity as a Personal Discipline

Conclusion

Notes

Final Thoughts

Chapter 32: Afterword

“Please Send Me the Book on How to Succeed in the Hospitality Industry”

Where Do You Go from Here?

Index

End User License Agreement

Guide

Cover

Table of Contents

Begin Reading

List of Illustrations

Chapter 4: The Listening Fast Track

Figure 4.1 The Law of Listening

Figure 4.2 Listening Fast Tracks Your Career

Figure 4.3 The Listening Fast Track

Figure 4.4 Listen to Nonverbal Communication

Figure 4.5 Quick Stop Listening Facts

Chapter 6: Becoming a Leader in the Hospitality Industry

Figure 6.1 Formal Organization Chart

Figure 6.2 Systems View—Key Processes

Figure 6.3 Informal Communication Network

Chapter 7: Understanding and Predicting Customer Choices

Figure 7.1 Statler Hotel (Ithaca, NY) on Expedia

Figure 7.2 Two Additional Hotel Listings on Expedia for Ithaca, NY

Figure 7.3 Types of Decision Support Models Based on Discrete Choice Analysis

Chapter 8: Guiding the Guest Experience

Figure 8.1 Sources of Pleasure

Figure 8.2 How to Guide the Guest Experience Before, During, and After the Visit

Chapter 10: A Scientific Approach to Managing Hospitality Operations

Figure 10.1 Approaching the Table Mix Problem Scientifically

Figure 10.2 Screen Shot of the TableOptimizer Restaurant Simulator

Figure 10.3 Approaching the Workforce Staffing Problem Scientifically

Figure 10.4 Reports and Tools Available from the Cornell Center of Hospitality Research That Offer Examples of Managing Hospitality Operations Scientifically

Chapter 12: How to Build Service Quality into Your Operation

Figure 12.1 Transaction-Focused Service Recovery

Figure 12.2 Relationship-Focused Service Recovery

Chapter 13: Demand Management

Figure 13.1 Price Response and Revenue

Figure 13.2 Price Response in Competitive Sets

Figure 13.3 Effect of Market Segmentation on Revenue

Figure 13.4 Percent of U.S. Hotel Room Revenue Booked Online: 1998–2011

Figure 13.5 Distribution of Major Chain Revenue by Channel

Figure 13.6 Customer Segments and Distribution Channels

Chapter 14: Revenue Management for Enhanced Profitability

Figure 14.1 Sample Booking Curves

Figure 14.2 Variable Pricing and Segmentation

Figure 14.3 OTA Placement and Advertising

Figure 14.4 Sample Menu Bar Showing Deals at Expedia.com

Figure 14.5 Unique Monthly Visitors (Millions)

Figure 14.6 SEO and SEM at the St. James Hotel

Chapter 15: Competing Successfully with Other Hotels

Figure 15.1 Strategic Management

Figure 15.2 Chic & Basic’s Bundle of Resources and Capabilities

Figure 15.3 European Hotel Pricing Dynamics in Good Times (2006–2007) and Bad Times (2008–2009)

Figure 15.4 Eliminate-Reduce-Raise-Create Blue Ocean Framework for Chic & Basic

Chapter 16: Focus on Finance

Figure 16.1 Sample EOQ Graph

Chapter 17: Hospitality Property Ownership

Figure 17.1 Sizing Up the U.S. Hotel Industry

Figure 17.2 Sizing Up the U.S. Restaurant Industry

Figure 17.3 Physical Property Rights of Real Estate Owners

Figure 17.4 Analysis of Ownership Forms

Figure 17.5 Limited Partnership Ownership Structure

Figure 17.6 U.S. Hotel Ownership Profiles

Figure 17.7 Hotel Industry Classifi cation by Location

Figure 17.8 Hotel Industry Classification by Market Orientation

Figure 17.9 Hotel Industry Classification by Facilities and Services

Figure 17.10 Hotel Industry Classification by Price Tiers

Figure 17.11 Hotel Industry Classification by Chain Scale

Figure 17.12 Restaurant Industry Classification by Menu Theme

Figure 17.13 Service Level and Menu Classifications of Standard and Poor’s

Figure 17.14 Structure 1 among Owners, Managers, Brands, and Capital Sources

Figure 17.15 Structure 2 among Owner, Manager, Brands and Capital Source

Figure 17.16 Structure 3 among Owners, Managers, Brands, and Capital Sources

Figure 17.17 Structure 4 among Owners, Managers, and Capital Sources

Figure 17.18 Structure 5 among Owners, Managers, Brands, and Capital Sources

Chapter 18: Hospitality Properties

Figure 18.1 Continuum of Investment Philosophy

Figure 18.2 Perfectly Competitive Markets

Figure 18.3 The Capitalization Process to Estimate Value

Figure 18.4 Hotel Galactica Pro Forma Statement, 2010–2014

Figure 18.5 DCF Valuation of Hotel Galactica

Figure 18.6 Superior Restaurant’s Statements of Income and Expenses

Figure 18.7 Comparable Sales Analysis for Galactica Hotel Valuation

Figure 18.8 The Hotel Market Cycle

Chapter 19: Gaining Maximum Benefit from Franchise Agreements, Management Contracts, and Leases

Figure 19.1 Property Rights in Hospitality

Figure 19.2 Property Rights in Restaurants

Figure 19.3 Top 10 Hotel and Restaurant Franchisors

Figure 19.4 Benefits and Disadvantages of Franchises

Figure 19.5 Hotel Management Fees

Figure 19.6 Restaurant Rents

Chapter 20: Developing and Renovating Hospitality Properties

Figure 20.1 Development Team Relationships

Figure 20.2 Stages in the Development Process

Figure 20.3 Investment Analysis

Chapter 21: Planning and Programming a Hotel

Figure 21.1 Basic Schematic Relationships

Figure 21.2 Contents of a Typical Building Program

Figure 21.3 Overall Hotel Program

Figure 21.4 Hotel Space Allocation

Figure 21.5 Guestroom Floor Analysis

Figure 21.6 Guestroom Floor Planning Considerations

Figure 21.7 Guestroom Mix

Figure 21.8 Activities to Be Anticipated in Guestroom Design

Figure 21.9 Lobby Schematic Diagram

Figure 21.10 Function Space Schematic Diagram

Chapter 22: Measuring Hotel Risk and Financing

Figure 22.1 Loan Risk Spread

Figure 22.2 Factors Driving the Hotel Investment Discount Rate

Figure 22.3 U.S. Treasury Rates

Figure 22.4 Sample Five-Year Hotel Pro Forma

Figure 22.5 Hotel Cash Flow Issues

Figure 22.6 Hotel Cash Flow in a Fixed-Rate Mortgage

Figure 22.7 Hotel Cash Flow in an Interest Rate Swap

Figure 22.8 Hotel Debt Swap

Chapter 23: Segmenting and Targeting Your Market

Figure 23.1 Relationship between Share of Flights and Penetration for 19 Domestic Airlines in the United States

Chapter 24: New Media

Figure 24.1 U.S. Interactive Marketing Forecast

Figure 24.2 Consumer Use of Media During Hospitality Purchase and Use Stages

Figure 24.3 The Flow of Consumer Conversation

Chapter 25: Building and Managing Your Brand

Figure 25.1 A Process Framework for Strategic Branding

Figure 25.2 Brand Development Hierarchy

Chapter 26: Hotel Revenue Management in an Economic Downturn

Figure 26.1 Search Engine Optimization and Search Engine Marketing Sample

Chapter 30: You Can’t Move All Your Hotels to Mexico

Figure 30.1 Election Timeline

Figure 30.2 Staying Lawful During the Critical Period

Chapter 31: The Integrity Dividend in Hospitality Leadership

Figure 31.1 Integrity Dividend Model

List of Tables

Chapter 6: Becoming a Leader in the Hospitality Industry

Table 6.1 Evolution of Leadership Research

Table 6.2 Restaurant-Level Performance Analysis Results

Chapter 7: Understanding and Predicting Customer Choices

Table 7.1 Relative Importance of Various Hotel Features When Customers Search for Information about Them on Travel-Related Web Sites

Table 7.2 Articles Based on Customer Choice Modeling Published in Cornell Hospitality Quarterly and Cornell Hospitality Report

Table 7.3 Sample Choice Criteria Considered by the Customers of Hotels and Restaurants

Table 7.4 Sample Choice Experiment for the Choice of a Hotel

Chapter 10: A Scientific Approach to Managing Hospitality Operations

Table 10.1 Historical Party-Size Information for Dinner on Fridays in a Popular Restaurant

Chapter 14: Revenue Management for Enhanced Profitability

Table 14.1 Common Rate Fences

Chapter 15: Competing Successfully with Other Hotels

Table 15.1 Management’s Strategic Responsibilities

Table 15.2 The Mission Statement of Adare Manor Hotel & Golf Resort

Table 15.3 Evaluating the Environment—PEST Analysis

Table 15.4 Starwood’s Key Capabilities

Chapter 16: Focus on Finance

Table 16.1 Hypothetical Cost of Ordering and Inventory for Tomato Sauce

Chapter 23: Segmenting and Targeting Your Market

Table 23.1 Restaurant Segmentation Summary (Based on Actual Study Data)

Table 23.2 Percentage of Stays at Various Economy Hotel Brands Attributable to Customers with Various Demographic Characteristics in the Survey Data Along with Absolute Deviations from the Average Value (in parentheses) and MAD Scores

Table 23.3 Data on 19 Domestic U.S. Airlines

Chapter 25: Building and Managing Your Brand

Table 25.1 STR Global Hotel Census Data (2005–2010)

Table 25.2 The 10 Largest Hotel Companies in the World

Table 25.3 STR Lodging Performance Metrics, United States and Asia/Pacific

Table 25.4 STR Lodging Performance Metrics, Europe

Table 25.5 Brand Affiliation in the Hospitality Industry: Benefits and Drawbacks

Chapter 28: Coordinating Information and Controlling Costs

Table 28.1 Typical Financial Responsibility Centers

Table 28.2 Summary Annual Operating Statement for 120-Room Limited-Service Hotel

Table 28.3 Account Analysis Approach to Cost Behavior Estimation: Rooms Department Expense

Table 28.4 Estimated Fixed and Variable Costs by Expense Item

Table 28.5 Flexible Budget Performance Report of Summary Annual Operating Statement

Table 28.6 Flexible Budget Cost Center Report from Summary Annual Operating Statement

Chapter 32: Afterword

Table 32.1 Resources to Continue Your Learning from the Cornell School of Hotel Administration

Pages

Cover

Contents

iii

iv

v

xi

xii

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

21

22

23

24

25

26

27

28

29

30

31

32

33

34

35

36

37

38

39

40

41

42

43

44

45

46

47

48

49

50

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

81

83

84

85

86

87

88

89

90

91

92

93

94

95

96

97

98

99

100

101

102

103

104

105

106

107

108

109

110

111

112

113

114

115

116

117

118

119

120

121

122

123

124

125

126

127

128

129

130

131

132

133

134

135

136

137

138

139

140

141

142

143

144

145

146

147

148

149

150

151

152

153

154

155

156

157

158

159

160

161

162

163

164

165

166

167

168

169

170

171

172

173

174

175

176

177

178

179

180

181

182

183

184

185

186

187

188

189

190

191

192

193

194

195

196

197

198

199

200

201

202

203

204

205

206

207

208

209

210

211

212

213

214

215

216

217

218

219

220

221

222

223

224

225

226

227

228

229

230

231

232

233

234

235

236

237

238

239

240

241

242

243

245

247

248

249

250

251

252

253

254

255

256

257

258

259

260

261

262

263

264

265

266

267

268

269

270

271

272

273

274

275

276

277

278

279

280

281

282

283

284

285

286

287

288

289

290

291

292

293

294

295

296

297

298

299

300

301

302

303

304

305

306

307

308

309

310

311

312

313

314

315

316

317

318

319

320

321

322

323

324

325

326

327

328

329

330

331

332

333

334

335

336

337

338

339

340

341

342

343

344

345

346

347

348

349

350

351

353

354

355

356

357

358

359

360

361

362

363

364

365

366

367

368

369

370

371

372

373

374

375

376

377

378

379

380

381

382

383

384

385

386

387

388

389

390

391

392

393

394

395

396

397

398

399

400

401

402

403

404

405

406

407

408

409

410

411

412

413

414

415

416

417

418

419

420

421

422

423

424

425

426

427

428

429

430

431

432

433

434

435

436

437

438

439

440

441

442

443

444

445

446

447

448

449

450

451

452

453

454

455

456

457

458

459

460

461

462

463

464

465

466

467

468

469

470

471

472

473

474

475

476

477

478

479

481

483

484

485

486

487

488

489

490

491

492

493

494

495

496

497

498

499

500

The Cornell School of Hotel Administration on Hospitality

Cutting Edge Thinking and Practice

Michael C. Sturman

Jack B. Corgel

Rohit Verma

Copyright © 2011 by The Cornell University. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600, or on the web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at http://www.wiley.com/go/permissions.

Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.

For general information on our other products and services or for technical support, please contact our Customer Care Department within the United States at (800) 762-2974, outside the United States at (317) 572-3993 or fax (317) 572-4002.

Wiley also publishes its books in a variety of electronic formats. Some content that appears in print may not be available in electronic books. For more information about Wiley products, visit our web site at www.wiley.com.

Library of Congress Cataloging-in-Publication Data:

The Cornell School of Hotel Administration on hospitality: cutting edge thinking and practice / edited by Michael C. Sturman, Jack B. Corgel, Rohit Verma.

p. cm.

Includes bibliographical references and index.

ISBN 978-0-470-55499-9 (cloth)

ISBN 978-1-118-01620-6 (ebk)

ISBN 978-1-118-01625-1 (ebk)

ISBN 978-1-118-01626-8 (ebk)

1. Cornell University. School of Hotel Administration. 2. Hospitality industry—Study and teaching—New York (State)—Ithaca. 3. Hotel management—Study and teaching—New York (State) 4. Hospitality—Study and teaching—New York (State) I. Sturman, Michael C. (Michael Craig) II. Corgel, Jack B., 1948- III. Verma, Rohit. IV. Cornell University. School of Hotel Administration. Career Services Office.

TX911.5.C585 2011

647.94071—dc22

2010043313

We are extremely thankful for the support of the Center for Hospitality Research, and to Glenn Withiam for all the work he did and contributions he made to the creation of this book.

Foreword

When John Wiley & Sons, Inc., approached us with this project it immediately brought to mind the great works in this series, works that exemplify the core competencies of the world’s best business programs. From Wharton on Dynamic Competitive Strategy to Kellogg on Marketing, the Wiley “on” series provides a unique platform designed to demonstrate how a collection of highly talented faculty develops a comprehensive and unique body of knowledge that is both academically advanced and business practical. Clearly, our “on” is hospitality. More specifically, the uniqueness that personifies our school, faculty, students, and alumni is hospitality leadership. Unlike traditional general management schools, the Cornell School of Hotel Administration grounds a first-class business education in the practice of a particular industry. We hire the best and brightest business academics, who apply theory to practice to generate new knowledge for the industry. As a result, we hold a singular position as the premier institution for educating future hospitality industry leaders.

Our focus on hospitality leadership underscores the evolution of the hospitality industry. When Dean Howard Bagnall Meek founded the Cornell program back in 1922, hospitality education focused on hotel and restaurant operations and what we would call today unit-level management. The prototype career path of the day was to become a bellboy who, over time, worked his way up to become a hotel or restaurant general manager, in what was, from a gender, cultural, and geographic standpoint, a relatively homogeneous industry. Yet Dean Meek understood how a mom-and-pop industry would both consolidate, through the creation of larger and larger businesses structures, and diversify over time, thus offering business management and business leadership opportunities for a diverse and global population of undergraduates, master students, and executives. Put simply, while yesterday’s students could complete on knowing the hospitality business, tomorrow’s leaders must master the business of hospitality and how to lead large, complex organizations. Today’s hospitality students grow to become the entrepreneurs who change the world, the leaders who deliver operational excellence across global platforms, and the deal makers who shape the industry. As tomorrow’s leaders they will oversee a vast spectrum of the global economy, from hotel and restaurant companies to resorts and theme parks to cruise lines, gaming properties, and senior living facilities, and to the retailers and supply chains that serve them all.

Our uniqueness, and the resulting content of this work, is based not just on our hospitality context but on the knowledge that competing in a service business is fundamentally different from competing in a manufacturing economy. While the world is filled with outstanding general management programs, many of their models and frameworks remain holdovers from an economy dominated by manufactured goods, an economy in which business strategy drives company culture. With consumer durables or nondurables, for example, we continue to segment markets, develop innovative product offerings for those segments, and then form teams within our organization to execute on those strategies. In a core service business like hospitality, however, culture drives strategy. A service company’s values, which is the core of its culture, directs how its leaders, managers and front-line service employees deliver their value proposition and satisfy customers. Be it the Four Seasons Hotels’ “golden rule” or Ritz-Carlton’s motto that “We are ladies and gentlemen serving ladies and gentlemen,” the strength of a service company’s culture dictates where and how well it competes. This collection of research, tools, perspectives, and their implications, exemplifies the peerless quality of our context, hospitality, and the principles for competing in a service business. The insights range from how to develop your service employees’ careers to how to manage for operational excellence to how to own and manage your real estate and other physical assets.

This book has benefited tremendously from the input and talents of multiple individuals. On behalf of all of us at Cornell, a very special thank you goes to Richard Narramore, Senior Editor for John Wiley & Sons, Inc., who came to us with this great idea and supported us all along the way. So many talented authors contributed collectively to the richness of this volume, including our lecturers, professors, their colleagues, and our alumni industry leaders. Yet every project needs champions. In this case, the champions at Cornell were clearly the editors, Michael Sturman, Jack B. Corgel, and Rohit Verma, to whom I am deeply grateful. Through their dedication and hard work, The Cornell School of Hotel Administration on Hospitality: Cutting Edge Thinking and Practice is the most comprehensive work to date on how to compete in the hospitality industry and beyond.

Michael D. Johnson

Dean and E.M. Statler Professor

Cornell School of Hotel Administration

CHAPTER 1
Four Paths to Success in the Hospitality Industry

MICHAEL C. STURMAN, JACK B. CORGEL, and ROHIT VERMA

The book you are about to read distills and shares the expertise of the faculty of the world’s preeminent school focusing solely on hospitality industry education. Founded in 1922 at the specific request of the hotel industry, the Cornell University School of Hotel Administration is the oldest school of its kind and the only Hotel School within an Ivy League university. Our mission is to promote hospitality leadership, which we achieve through a combination of teaching, research, and industry collaboration. The 70 faculty members of the school seek to expand the state of knowledge in the industry—whether by creating new knowledge through research, teaching those who are eager to learn, or disseminating knowledge through consulting, writing, and presentations—and help develop the future leaders of the hospitality industry.

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!

Lesen Sie weiter in der vollständigen Ausgabe!