Cornell · 4 Dec
In 2015, Fairmont Raffles Hotels International implemented a system-wide revenue management program in its restaurants. Starting with an analysis of baseline data, Fairmont applied a five-step revenue management process to highlight potential revenue-enhancement opportunities. Restaurant managers and employees were invited to suggest tactics and strategies drawn from three categories: (1) all-purpose strategies, (2) strategies to use when a restaurant is busy (hot), and (3) strategies to use when a restaurant is not busy (cold). Appropriately chosen strategies were simple to implement in most cases, and guests often were pleased with the operational and menu changes. Within a year of implementation, Fairmont restaurants that implemented revenue management had generated five times more revenue growth than those not applying the program.
Cornell · 28 Nov
Robot-assisted hotel services get generally high marks in a study of guests at 88 hotels in China. Guests reported making fairly frequent use of the robots, primarily for such relatively simple functions as turning on the lights and turning off the TV. Chief problems occur when the robot cannot recognize operation commands, when guests must repeat their request, and when the robot isn't actually programmed for a particular operation. Asked what services they expect from a hotel robot, guests cited food distribution, delivering goods, handling check-in and checkout, and providing travel information and consumption recommendations. Two-thirds of customers considered that "robot rooms" present a good value, and a similar proportion were willing to make a return visit to rooms equipped with robots. Keys to the acceptance of hotel robots are that they must provide worthwhile services and be easy to use. An economic analysis of ten properties found favorable return on hotels' investment in robot rooms, particularly those in family suites.
Cornell Blog · 7 Nov
Every day, companies and investors are slowly inching towards becoming more environmentally conscious. With more and more consumers valuing corporate
Cornell · 4 Oct
Revenue Management (RM) professionals have been talking about 'Total Hotel RM' (THRM) for well over a decade. In 2010, THRM was predicted to be implemented 'within the next 5 years' by a majority of survey respondents. In another study conducted in 2017, THRM was again identified as a significant future trend in RM, with function space, restaurants, spa, golf, parking, and retail all rated as 'Likely' or 'Very Likely' to see RM implementation (see Appendix I). There have been numerous articles and presentations at industry conferences, including some by both of these authors.
Cornell · 14 Sep
When Captain Kirk or Mr. Spock needed information, they would hail the Enterprise's computer, and the computer would respond to their request. In 1966, that was an amazing piece of science fiction. Now, with Siri, Alexa, and other devices with artificial intelligence, we all are figuratively standing on the bridge of the Enterprise, speaking to devices that are "listening" to us and fulfilling our simple requests. As the Internet of things grows, robots and other devices using artificial intelligence can handle a growing list of tasks, such as turning up the heat or air conditioning before a homeowner arrives from work, ordering a pizza delivery (and maybe unlocking the door for the delivery person), or playing Lion King soundtrack when they need some music. And in hotels, we now have physical machines powered by artificial intelligence and we have "robot rooms."
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 m
Use of technologies in service encounters can enhance service delivery and increase customer satisfaction in services. Our research develops a numeri
This article aims to add to our understanding of lodging management from an organization theory perspective. In an attempt to link the principal dime