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Topic - Cornell Center For Hospitality Research Page 2

Hospitality Trends

Global Hospitality, Travel, and Tourism Trends - By Dev, Chekitan

On May 27, 2023, at the opening session of the 2023 Global Hospitality Conclave held at The Oberoi in New Delhi, India, I had the pleasure of speaking with Hari Nair of Expedia Group, a distinguished alumnus of the Cornell Peter and Stephanie Nolan School of Hotel Administration, about the changing world of hospitality, travel, and tourism. We framed the discussion around ten major travel trends. This report presents some of the detailed insights from our discussion.

Short-term Rental Market

Consolidating the $50 Billion U.S. Short-Term Rental Market

Over 72 percent of all hotels in the United States are affiliated with large brands like Marriott, Hilton, IHG, and Hyatt. In contrast, the largest operator in the short-term rental (STR) market, Vacasa, manages less than 1 percent of the total market. With around $53.5 billion in gross booking value, or about 25 percent of the entire U.S. lodging industry, the STR market presents an enticing consolidation opportunity.

Cornell Center For Hospitality Research Panel
A robotic arm - Unsplash

The Next 100 Years: Hospitality Guests of Tomorrow

In this report, we present a panel discussion in which we look ahead to where the hotel and travel industry will be in the next 100 years. We chose this topic in part because 1922 was the year when the American Hotel Association (as it was then known) encouraged Cornell University to create a 'hotel program,' which had the goal of helping to professionalize an industry that was experiencing the growth and expansion of the first hotel chains (notably, the Hotels Statler).

Hotel Sustainability
A water drop - Unsplash

Hotel Sustainability Benchmarking Index 2023: Carbon, Energy, and Water

For the ninth consecutive year, the annual Cornell Hotel Sustainability Benchmarking research reveals a general decrease in energy and water usage among the participating hotels. The decrease is largely associated with the pandemic which shook the world and granted no exception to the hospitality industry.

Market Report Barbados
Beach in Barbados - Unsplash

Barbados Tourism: Repositioning A Struggling Country Brand

To encourage more stay-over tourism, the island’s tourism officials promoted its considerable historical role in the history of Britain and North America, eco-tourism, and local festivals. Thus, the question became one of what Barbados needed to do to ensure the success of its tourism industry.

Cornell Webinar
Meeting table from above

Cornell Webinar - Hospitality Guests of Tomorrow

Guest preferences in hospitality are changing. In this webcast, a panel of Cornell faculty and industry experts will discuss how to use data to better understand and anticipate guests’ needs, emerging guest segments and their preferences, and shifting operations and marketing to capture these new guest segments.

Independent Hotels
Hotel Il San Pietro di Positano - Aerial view

Case Study - Hotel Il San Pietro Di Positano: Strengthening an Extraordinary Independent Brand

Located in Positano on the Amalfi Coast, south of Naples, their 56-room iconic property was enjoying its best year, as unprecedented numbers of pandemic-exhausted travelers were flocking again to Positano. Charging an average rate of €1,882 each night for a room, the hotel boasted a 99.9% occupancy rate and was fully booked until mid-October. This was in stark contrast with the preceding two years during the Covid-19 pandemic.