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CHR INSIGHTS
Case Study Explores Real Estate Investment in Shanghai
In their case study, Professor Peng Liu and Terence Loh ’97, MBA ’06 challenge students to solve a real-world business problem. “The case study gives the reader both a qualitative and quantitative understanding on how buy-side companies invest in the real estate market,” says Liu. “Given China’s growing importance as a global real estate market, this case provides useful insights on how real estate projects are acquired and structured.”

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Hospitality Hackathon promotes interdisciplinary, data-driven solutions
Combining diverse perspectives and academic backgrounds, 120 students from across Cornell University came together through 21 teams to model, prototype, and present their solutions for 1) limiting guest-employee interaction to stop the spread of COVID and 2) attracting employees back into the industry as travel begins to return to pre-pandemic levels. The event was presented by the Pillsbury Institute for Hospitality Entrepreneurship in partnership with Hilton and Salesforce.

Read more about the winning teams and ideas >>
Lilly Jan Discusses F&B Menu Trends for 2022
Lecturer Lilly Jan, Ph.D., spoke at the Global Hospitality Summit last month. hertelier covered Jan's talk on upcoming food and beverage menu trends. 

Read more from hertelier >>
INDUSTRY INSIGHTS
JLL Hotels & Hospitality Global Asset Management report 2021
"The global COVID-19 health crisis has had a drastic and immediate impact on hotels, with operating performance reaching record lows across the world."

Read more from JLL >>
KEYNOTE WEBINARS
THE FUTURE OF MONEY
Crypto Currencies Impact on Consumers

Monday, December 13, 11 a.m. ET
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CONSCIOUS CONSUMPTION
Embracing Green Marketing to Boost Loyalty and Impact

Tuesday, December 14, 11 a.m. ET
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THE VIEW FOR 2022
Insights and Expectations for the U.S. Hotel Industry

Friday, December 17, 12 p.m. ET
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Watch recordings on demand.
Access all of our past events on demand from our new keynote webinar library. From real estate and finance to HR, entrepreneurship to food and beverage, technology to marketing, and cruise lines to airlines, our experts have covered it all.

Browse our keynote collection >>
DATA INSIGHTS


Consumers' reaction to Omicron variant: OMG or Meh
So far, many consumers’ response to Omicron is to book more travel:
  • Both air and hotel bookings are up significantly, particularly for business travel. 
  • Continuing to see a gap between family travel vs. solos and couples likely due to more complicated planning and logistics. 
  • Fears of inflation and uncertainty over future travel restrictions is spurring people to take action.
  • Aggregate booking volume vs. 2019 is -44% and +60% vs. 2020 for air and -29% vs 2019 and +94% vs 2020 for hotels. 
 
And Europeans are still eager to travel to the US, except for families. 
  • The trajectory for business bookings (mostly unmanaged small and medium businesses) is significantly steeper for hotels—up close to 300% since 1 Nov.
  • Air bookings for families is in negative territory; it’s down over 60% compared to 1 Nov. 
  • Business and non-family travelers are looking for big city amenities as  metros such as LA, NY and Miami top the destination list.
  • Aggregate booking volume vs. 2019 is -55% and +107% vs. 2020 for air and -42% vs 2019 and +241% vs 2020 for hotels.
 
While conversely, US families are eager to vacation in EMEA (vaccine availability and travel restrictions are likely factors)

Big variations by type of traveler: 
  • Air bookings for family travel are down 60% from 1 Nov while hotel bookings are up over 140% suggesting a large timing difference with air booked far ahead of hotels.  
  • Business travelers are making a last minute push to get their trips and meetings booked before their colleagues shift into holiday mode.
  • Aggregate booking volume vs. 2019 is -55% and +151% vs. 2020 for air and -46% vs 2019 and +452% vs 2020 for hotels. 
     
 
U.S. hotel occupancy rose week over week during November 28-December 4 while average daily rate (ADR) dipped slightly. The 2019 index level for each metric was lower than in the previous week.
While national ADR was lower, the Top 25 Markets in aggregate reached their highest level of the pandemic-era. Most of the gains were driven by Miami, which hosted Art Basel, and New York, which has continued to post performance improvements over recent weeks.

CHR | Events | Membership
Advisory Board 

Cornell University
Nolan School of Hotel Administration
Center for Hospitality Research
149 Statler Hall
Ithaca, NY 14853

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