From the Director
Although we are all still challenged by the times we are very grateful for all the support and engagement here at Cornell. As the Director of CREF I want to express my delight as we welcome eight new members to the advisory board. Coming from diverse and wide ranging perspectives, these members will add to their strengths to our already powerful and active board. Read more.
CREF Highlights
Indicies: Second Quarter 2021: Are We There Yet?
United States hotel prices have rebounded above their statistical lower bound in all regions except the Mountain states, signaling a return toward their pre-pandemic level—although we are not quite there yet.
Post-Pandemic Hotel Transactions
The Center for Real Estate and Finance (CREF) brought together a panel of seasoned industry professionals: Moderated by Arthur Adler ’78, president, Adler Hotel Advisors, LLC, and Steven Carvell, Professor of Finance in the Cornell SC Johnson College of Business and the Academic Director of CREF, the panel included Daniel Peek ’92, president, Hodges Ward Elliott; Eva Wassermann, managing director, GEM Realty Capital; and Shai Zelering, managing partner, Brookfield Real Estate Group.
Annual Report
FY20-21: 2020-2021 Annual Review published by the staff of the Center for Real Estate and Finance (CREF) at Cornell University's School of Hotel Administration.
"I initially got involved in CREF because I was a Parent of an undergrad at Cornell back in 2013. I got involved as a judge for the Real Estate Competition, I lectured up at Cornell and met with students once or twice a year in addition to attending all of the CREF meetings. The interaction with the students and the interaction with my fellow CREF Advisory Board Members are extremely meaningful to me."

- Marty Burger, CEO, Silverstein Properties, Inc
Welcome New CREF Advisory Board Members!
Kevin Davis is a Senior Managing Director in JLL’s Hotels & Hospitality Group and Head of Debt Capital Markets for Hotels in New York, where he is responsible for raising debt and equity capital for hotel owners, and is one of the leaders of the Hotel Investment Banking group.
Ruby Huang ’97 is a Senior Vice President in Asset Management at Starwood Capital Group. In this role, she is focused on enhancing the asset value of the Firm’s select-service hotel platform by proactively managing operations and real estate to maximize net cash flow, and executing property improvement plans.
Dana Jacobsohn '92 joined Marriott International in 1996. In her current role as Senior Vice President, Global Mixed-Use Development, Dana has been responsible for the growth of Marriott’s global portfolio of residential brands.
Richard Russo '02 has over 18 years of hotel industry experience and is responsible for spearheading Highgate's business development efforts. In his role as Principal, Rich is focused on identifying new opportunities.
C. Patrick Scholes '94 has over 30 years of experience in the hotel industry and on Wall Street.  As Managing Director and Senior Analyst, C. Patrick oversees equity research at Truist Securities for the Lodging, Vacation Ownership, and Cruise industries.

Matthew Shore '00 is the Chief Investment Officer at DRA Advisors, a private equity real estate investment firm with approximately $10 Billion in assets under management.
Andrew Taffet '05 (A&S) directs all aspects of portfolio management as the chief investment officer for The Carrington Companies, LLC and head of Asset Management for Carrington Capital Management, LLC.
Shai Zelering '01 is a Managing Partner with Brookfield’s Real Estate Group. Mr. Zelering has been instrumental in growing Brookfield’s hospitality platform since 2014.
Upcoming Events
39th Annual Cornell Real Estate Conference

The Rapidly Changing Residential Landscape
October 28, 2021 - 4:00 p.m. ET
Moderated by Diana Olick, real estate correspondent, CNBC; Panelists include Gary Berman, president & CEO, Tricon Residential, Inc.; Douglas C. Yearley, Jr. ’82, chairman & CEO, Toll Brothers; Drew Flahive, president, Amherst Residential

The Accelerating, Digitization, and Innovation of the Built World
November 2, 2021 - 11:00 a.m. ET
Moderated by Brad Greiwe (Co-Founder & Managing Partner, Fifth Wall), with panelists including Arie Barendrecht (Founder & CEO, WiredScore)

2021 Institutional Real Estate Allocations Monitor and Global Investors’ View on Real Estate Investment Themes and Opportunities
November 4, 2021 - 4:00 p.m. ET
Panelists: Jennifer Wenzel, director, Teacher Retirement System of Texas; Sara Geiger, portfolio manager, State Board of Administration of Florida

November 12, 2021
The 13th Annual Cornell International Real Estate Case Competition will be held virtually this year on Friday, November 12, 2021. Thirteen teams from around the world will compete for a total of $10,000 in prize money. The finals can be streamed live starting at 2:30 PM on November 12th.

November Board Meeting
November 19, 2021 - NYC
Invitation only

CREF Featured Corporate Partners

For more information email