Cornell Hospitality Quarterly

An analysis of the relationship between corporate "A" bond rates and hotelmortgage-interest rates found that the two are related. Specifically, bondrates in one quarter are a reasonably accurate predictor of interest ratesin the following quarter. The most effective analysis involves a curvilinearmultiple-regression equation that accounts for federal tax policy as wellas bond rates to estimate the interest rates in the subsequent quarter.

The debate over whether lodging stocks are fairly valued may boil down to the fundamental difference between valuation for stock-buying purposes versus what constitutes a good company with profitable and valuable underlying assets. By their nature, hotel stocks are not for high-yield-seeking day traders and momentum investors, but rather for long-term value-oriented investors who are comfortable with an industry whose earnings growth depends on the vagaries of the world's economy. The author suggests such basic strategies as investing in technology, continually innovating, and selling non-strategic assets. One other tactic that would help is to educate the investing public.

A study of six metropolitan, full-service hotels (involving 600 guests and 240 employees) found a statistical connection between employee satisfaction and guest satisfaction. Regarding employees' satisfaction, the data indicated that monetary factors can be dissatisfiers. The surest way to build employee satisfaction is to let employees know that their efforts are appreciated; that they can participate in decision making; and that they observe all employees working enthusiastically together to provide excellent service. Guests responded favorably to personable staff members who are quick and competent. Cleanliness of the room ranked high, while guests reported being most dissatisfied with the hotels' food quality and value.

When Club Corporation of America wanted to develop a computer-based training program for its managers, it turned to a team led by faculty members at Virginia Tech. In addition to representatives from ClubCorp, the team comprised members of the university's art, English, hospitality, theatre, and visual communication departments. The team decided to distribute the training applications on CD-ROMs, based on their ability to store large amounts of material that can be retrieved quickly.

More than 4,500 U.S. hotels provided information regarding technology use. This study presents and supports a six-phase model of technology adoption that ranges from signaling competitors and guests that a hotel has invested (or will invest) in new technology to experimenting with untested technology. The study results indicate that while many hotels have adopted technologies to enhance their managers' and employees' efficiency (phases 2 and 3), few have added technologies focused on customer service (phases 4 and 5)-thereby creating a strategic marketing opportunity for hoteliers willing to take risks and be innovative.

This article suggests ways to enhance the effectiveness of hotels' investments in special projects and new initiatives. Specifically, the article (1) reviews research findings that show managers across many industries often continue, or even increase, resource allocation to unprofitable courses of action; (2) reports the results of a case study with managers suggesting that this tendency may also be extensive in the hotel industry; (3) itemizes by relative importance 15 causal factors of escalation (e.g., managers' personal gain, inadequate accountability), and (4) suggests several ways for hotel managers to control the occurrence of suboptimal actions (e.g., using teams or consultants to evaluate projects).

A study of 63 Toronto restaurants found that certain attributes or amenities had a statistically significant effect on average check, as well as customers' ratings of decor and service quality. The features tested were offering catering, a dress code, late-night dining, live entertainment, outside seating, parking, smoking, take out, and some form of internet activity. Specifically, a dress code boosted check averages and improved ratings for decor, service, and food quality. Offering parking also boosted check averages. In contrast, offering takeout depressed check averages and reduced the ratings for decor. Offering a late-night menu had a significant negative effect on perceptions of food and service quality. The restaurant features offered most frequently were catering, takeout, and a smoking section.

A study of 63 Toronto restaurants found that certain attributes or amenities had a statistically significant effect on average check, as well as customers' ratings of decor and service quality. The features tested were offering catering, a dress code, late-night dining, live entertainment, outside seating, parking, smoking, takeout, and some form of internet activity. Specifically, a dress code boosted check averages and improved ratings for decor, service, and food quality. Offering parking also boosted check averages. In contrast, offering takeout depressed check averages and reduced the ratings for decor. Offering a late-night menu had a significant negative effect on perceptions of food and service quality. The restaurant features offered most frequently were catering, takeout, and a smoking section.

This article provides a quick history of sexual-harassment law and looks at the appellate-court opinions that came before the U.S. Supreme Court ruling in a same-sex sexual-harassment case. That latter decision has given rise to the relatively novel equal-opportunity-harasser defense, whereby harassing conduct directed at both men and women, no matter how outrageous, may not be unlawful at all. The reason is that the Supreme Court previously established that sexual harassment must be "because of sex," and failure to prove that gender-related component will automatically disqualify claims for quid pro quo or hostile-work-environment sexual harassment, as indicated by the court decisions outlined in this article. The preferred remedy to the equal-opportunity-harasser defense is to make unwelcome workplace sexual conduct per se unlawful.