Smith Travel Research, Cornell Hotel School Announce New Research Partnership
FOR IMMEDIATE RELEASE
ITHACA, NY and HENDERSONVILLE, TN, JUNE 21, 2005 -- The long and beneficial association between Smith Travel Research (STR) and Cornell University has been strengthened with the announcement that STR has become a Partner with Cornell's Center for Hospitality Research (CHR). "This is an excellent next step in our relationship," said STR co-founder and CEO Randell Smith. "Cornell researchers have produced several studies based on STR data, and I am looking forward to seeing additional research reports as a result of this new partnership." As a long-time friend of the School of Hotel Administration's Center for the Hospitality Research, STR has made its aggregate data available to researchers on a confidential basis, to allow in-depth analysis of industry trends.
"Smith Travel Research has made a continuous and valuable contribution to the industry," said David W. Butler, Dean of the School of Hotel Administration. "I am pleased that STR and the Hotel School will be working even more closely to improve the rigor and reach of hotel industry research. In particular, we note the participation of STR President Mark Lomanno as a continuing member of the CHR's advisory board."
Among the CHR Reports that have been based on STR's aggregate data are:
o "Why Discounting Doesn't Work: The Dynamics of Rising Occupancy and Falling Revenue among Competitors," by Cornell Professors Cathy Enz, Linda Canina, and STR's Lomanno;
o "Lodging Demand for Urban Hotels in Major Markets," by Cornell's Linda Canina and Steven Carvell; and
o "The Influence of Gasoline-price Fluctuations on U.S. Lodging Demand: A Study of Branded Hotels from 1988 through 2000," by Professors Linda Canina, Kate Walsh, and Cathy Enz.
These and all CHR Reports are available from the Center's web site, http://www.thecenterforhospitalityresearch.org/. Thanks to the support of partners such as Smith Travel Research and those listed below, all CHR Reports are made available free of charge.
About Smith Travel Research
Smith Travel Research (STR) is the recognized leader for U.S. Lodging Industry benchmarking. For over 20 years STR has collected monthly and daily operating data and reported on the state of the lodging industry. Currently over 24,000 hotels with 3 million rooms participate in the monthly STAR program. If you wish to learn more about The HOST Data Service, Historical TRENDS, the STAR program, or other STR Services please call 615-824-8664 Ext. 501 or visit our web site: http://www.smithtravelresearch.com/.
About The Center for Hospitality Research
A unit of the Cornell School of Hotel Administration and now in its second decade, The Center for Hospitality Research (CHR) sponsors groundbreaking research designed to improve practices in the hospitality industry. The CHR also publishes the award-winning hospitality journal, the Cornell Hotel and Restaurant Administration Quarterly. Under the lead of CHR's 41 corporate affiliates, experienced scholars work closely with business executives to discover new insights into strategic, managerial and operational issues. To learn more about CHR and its projects, visit http://www.thecenterforhospitalityresearch.org/.
The Center's supporters are leading organizations in the hospitality industry. Partners and sponsors are: AIG Global Real Estate Investment Corp., Bartech Systems International, Cendant Corporation, Four Seasons Hotels and Resorts, HVS International, JohnsonDiversey, Inc., Kohinoor Group, Marsh's Hospitality Practice, Nestl'e, Smith Travel Research, Southern Wine and Spirits of New York, Thayer Group of Companies, Willowbend Golf Management, and Wyndham International.
The CHR's friends are: ARAMARK o DK Shifflet & Associates o ehotelier.com o Gerencia de Hoteles & Restaurantes o Global Hospitality Resources o Hospitality World o hospitalitynet.org o Hotel Asia Pacific o Hotel China o Hospitality Initiatives India o Hotel Interactive o Hotel Resource o International CHRIE o KPMG Japan/Global Management Directions o Lodging Hospitality o Lodging Magazine o Mobile MoneySaver o Hotelexecutive.com o PKF Hospitality Research o Resort+Recreation o The Resort Trades o RestaurantEdge.com o Shibata Publishing Co. o The Lodging Conference o TravelCLICK o UniFocus o WageWatch, Inc. o WiredHotelier.com
Contact:
Joe Strodel, Jr.
607-255-4646
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
