“Conversations with Alumni” – Dexter Wood ’87

Michael Lee ’18 sat down with Dexter Wood ‘87, an accomplished industry veteran with diverse global hospitality, finance and real estate experience with leading companies including Park Hotels & Resorts, Hilton Worldwide, Host Hotels & Resorts, HVS International and PricewaterhouseCoopers.

Dexter Wood ’87

  • What was your most memorable experience at Cornell?

It would be when I was the Beverage Director for HEC 62. That year was the spring of 1987, and the Statler was undergoing construction at that time. It was also the first time that my parents had come to visit the Hotel School. We were organizing a 500-person banquet at Lynah Rink as Barton Hall was also under renovation, and the Statler Inn had been knocked down.

We had just pre-made the coffee for the event and were transporting all these beverages en-route to Lynah Rink. While they had initially told me that we could use the water at Lynah Rink, we found out that the water from the rink wasn’t potable. We ended up dumping all the coffee from the Carboys so that we could get fresh water to fill the water glasses for dinner and remade the coffee afterward.

It was one of the first executive decisions that I had to make under a time-pressed situation.

  • What was your favorite course as a student?

One of my favorite courses is now what is known as Restaurant Management. I really enjoyed working with Chef White and Professor Giuseppe Pezzoti, and ended up being a TA for them.  They made a lasting impact on me. Even though I work in the finance/real estate industry now, I find that having operational experience plays an important role in understanding how hotels run.

One of my other favorite classes is also now known as Business Computing. When I transferred to the Hotel School, it was the onset of the PC revolution, and the Binenkorb Center had just been built. I ended up TA’ing for Professor Alvarez during my senior year for his computing course HA 374. This helped me tremendously in my career. I built my career in part by being a skilled excel modeler, especially at HVS and PWC.  It really started with Lotus 1-2-3 modeling, if anyone can remember that.

  •  What’s your favorite thing to do when you’re back at Cornell?

I usually come back once or twice a year for HEC, board meetings, guest lectures, and the like. A lot of my favorite places are gone now, but I like visiting restaurants such as the Nines and Glenwood Pines. Everything else I used to like is gone, except for Rulloff’s.

  • What’s one piece of advice that you would give to the graduating class of Hotelies?

I would say that the Hotelie alumni network is the most valuable thing that you get from the Hotel School. It’s particularly relevant now, especially since it’s something that you don’t realize until you graduate and look to secure or switch jobs.

Our alumni are passionate and invested in the school, students and alumni. Even now, people call me frequently to get advice and introductions. Embracing that Hotelie spirit and the alumni network is the most important thing that you can take away from Cornell. Then get and stay involved with the Cornell Hotel Society chapter in your city. #hotelieforlife

  • In recent years, REITs have been trading at a substantial discount to Net Asset Value. As such, you see examples of industry consolidation or REITs being taken private. What is your view regarding the future of REITs?

We recently had RLJ (RLJ Lodging Trust) and Felcor (Felcor Lodging Trust) announce a merger, and this is one of the first indicators that the REIT space might be ripe for consolidation. We’ve seen it for the brand companies such as Marriott and Starwood as well.

Some people think that REITs face more difficulty when try to consolidate. Smaller companies have been around for a while, and they don’t really want to merge. However, investor and shareholder attitudes are changing. There are many advantages of being a bigger company, especially when dealing with brands and distribution channels and OTAs. Being a bigger company gives you more leverage and buying power. All of those factors may start to overwhelm the sentiment of smaller companies wanting to remain independent. I think we will see more consolidation over the next five years or so.  All the forces are suggesting that being bigger for the right reasons might be the best direction.

  • With current real estate trading at record high prices, what is Park’s growth strategy over the next few years?

Park definitely wants to grow and diversify. While we currently hold all Hilton brands right now, we want to diversify our brands and market representation. We’ll be focusing on employing an active capital recycling program with the goal of expanding our presence in target markets, primarily in the US, while reducing exposure to slower growth assets and markets.

The market cycle is what it is, and we’ll take the opportunity when we see it. We’re also long-term owners of real estate, so we also look for assets where we think we can add value. We’ve got a good strategy and team in place, and we have our sights set pretty high.

* * *

The Cornell Hotel Society Executive Board thanks the Cornell Hotel Society – Collegiate Chapter for initiating and conducting the “Conversations with Alumni” project.

“Conversations with Alumni” – Sean Hennessey ’83

Phoebe Chan, a senior at the Hotel School, was fortunate enough to be able to speak to Hotel School Alumni Sean Hennessey ‘83, CEO of Lodging Advisors LLC, and a lecturer at the NYU hospitality program, about his experience at Cornell and advice he has for students.

Sean Hennessey ’83

  • Can you tell me more about your career path?

While I was at the hotel school, I worked at the Statler Hotel in operations and became more interested in the hotel side of things. One of the classes I took at

Cornell had us read an article written by the founder of HVS (Stephen Rushmore ’67). I wrote the founder a letter and let him know how fascinated I was by his company and how much I’d love to work for him. The founder wrote me back saying they didn’t have any positions open yet as they were a new company at the time, but that if I found a job close to New York, he’d let me know when they had something available. I took a culinary position upon graduation, and one day, the phone rang, and the same founder told me he was ready for me to start!

After HVS, I worked at an accounting firm and real-estate appraisal company. Then, I worked as a hotel broker. After that, I worked in the hotel group of PricewaterhouseCoopers before forming my own firm. In the last few years, I’ve been teaching more and consulting less.

  • What was it like to form your own company?

My plan to start my own company was a lifestyle decision. After working for larger companies with a lot of corporate pressures and office meetings, I knew I wanted to keep my company small. There are inefficiencies that come along with setting up your own shop, but there is the ultimate freedom of being free from all the managerial and administrative issues. In the consulting world, most clients are really eager to have the insights and information that I have that is not downloadable.

  • What are you working on now?

This past summer, I worked on a project for an investor in Waikiki, Hawaii who was trying to optimize their hotel redevelopment opportunities. Recently, I also worked with a few large NYC developers on hotel projects, either standalone or part of mixed use projects.

  • What do you think the current development cycle is like in hospitality?

It certainly depends on whether you’re referring to the US or the New York market. In the US, the development cycle is ratcheting upward. After the 2008 financial crisis and recession, there was very little new capital flowing into the hotel industry. New York City recovered first, and it went into development upcycle. Now it’s on the downside since the market has already seen a run-up in new supply, which has caused new developers to hit the pause button. Nationally, many parts of the country have only just started recovering, so their development cycles are revving up.

  • It must have been pretty cool to be in New York when the Waldorf Astoria deal was happening!

Yeah! We’ve seen a number of old historic hotels like the Plaza and Waldorf that have been converted from hotel to residential in whole or in part. I don’t think we’ll see many more conversions like that since most hotels lack that kind of character, size, and light and views that most expensive condo buyers are looking for.

  • What were the highlights of your Cornell experience?

I’ve been to Cornell many times since graduating. I taught in the executive education program in the summer for a few years and served as a guest lecturer in a few classes. At PwC, we recruited students every year from Cornell! But since I’ve started my own company, I haven’t been back as much. Certainly, from when I graduated, the whole Statler Hotel School was completely redone. I still have trouble finding my way around the halls! The Hotel School was a great place to make relationships, both professionally and socially.

  • What is something you wish you’d known coming out of Cornell?

You should absolutely maintain the friendships and relationships with your peers over the years. A lot of the technical information you get from textbooks as a student will probably be obsolete within five years, but the relationships you form will last the rest of your career.

  • If you could go back and pursue a completely different career path, what would you be doing instead?

Other than operations, a lot of people who started in consulting like myself transition to either the hotel companies or investment firms dealing with hotel companies. I never went that route, so that would be a logical career progression had I not stayed where I was. The more likely answer, however, is that I would do something more entrepreneurial early on. The day I started my own company, although it was frightening, it was the best decision I’ve ever made in my career.

  • What advice do you have for students who are starting out in their careers?

When I think about levels of success or problems I’ve had with employees, I remember the importance of communication skills, primarily writing but also speaking. In consulting in particular, clients are paying a lot of money for you to spend some time to give them advice. A typical job could be anywhere from ten to a hundred and fifty thousand dollars. You need to be sensitive to the fact that (1) clients are dealing with a situation they haven’t dealt with before and that (2) they need advice and counsel as much as they need data. There’s an element there where you need to be professional in how you present your analysis and conclusions. If there’s any distinguishing characteristic that has led to the success of my firm, it’s that I am able to give clients good advice and provide them with information that allows them to assess risks and benefits prior to pursuing a particular path. There are other basic aspects of qualifications to enter the field like Excel skills, but in my opinion, if you have reasoning and communications skills, it will put you on an expedited path towards doing well in any career.

* * *

The Cornell Hotel Society Executive Board thanks the Cornell Hotel Society – Collegiate Chapter for initiating and conducting the “Conversations with Alumni” project.

“Conversations with Alumni” – Brian Waldman ’99

Chandler Pfaff, a freshman in the hotel school, gets a glimpse into the life of Brian Waldman ’99, Senior Vice President of Investments at Peachtree Hotel Group.

Brian Waldman ’99

  • To start off, would you mind sharing a bit about your background?

I’m originally from New York and grew up on Long Island. I worked in catering, which is what led me to the hotel school, so I always had a passion for food & beverage and real estate. I came to Cornell with the intention of pursuing F&B, but after taking a few finance and real estate classes I decided to switch gears, and I completed a dual concentration in finance and real estate. Currently, I’m married with 2 young kids, and my career has taken me back and forth from NYC to Atlanta.

  • What did you enjoy most about your time at Cornell?

It was a fun time in life. I loved the hotel school, loved the people in the program, loved the friends I made. Collegetown was awesome and I really enjoyed all that Ithaca had to offer.

  • What was your go-to restaurant or bar?

Well, it’s not around anymore, but Dunbar’s was my favorite. It was a little hole-in-the wall. It was a fun place.

  • More to your present life, what’s your favorite thing to do in your free time?

Play with my kids. They’re at that age where they are tons of fun to be around.

They’re at that age where they are destroying everything, aren’t they?
Oh yes.

  • Do you have a sports team that you follow, or anything that really interests you that you keep up with?

Growing up on Long Island I was a Mets fan and an Islanders fan. They haven’t done so well since I was a kid, so I haven’t been involved as much. Lately I’ve grown to appreciate college football.

You’re in a great place to be following college football, that’s for sure.
Absolutely. This past year our firm had tickets to go to the SEC conference championship game. It was a great time.

  • One last personal question: if you had to recommend one place to vacation, where would it be?

Guanacaste, Costa Rica. It’s one of my favorite places in the world. It’s close to the rainforest, the beach, there’s horseback riding, good food, great people. We were on this resort and there were monkeys and animals everywhere. Definitely my favorite place to travel.

  • Switching gears to your profession, let’s talk about your firm. Peachtree’s portfolio seems to be concentrated in the South. What is the strategy behind that market?

Peachtree is based in Atlanta and our primary strategy is to focus on premium-branded, select-service hotels. Since we are headquartered in the South, our investment portfolio tends be concentrated in the South because this is our backyard, so we know the market well. However, our loan portfolio is more diverse. I would say that in the next five years, our portfolio will remain about 80% in the southeast market, and 20% will be more opportunistic ventures.

  • Why do you choose to invest primarily in premium-branded, select-service hotels?

There are five key elements of what we do: own; operating; renovate & develop; direct lending; and capital raising. Brand is important to Peachtree because there is a lot of value that comes from premium-branded hotels. Our heaviest concentration is in the Marriott and Hilton brand families with some Hyatt and IHG exposure. These are the most profitable investments for what we do, because we are a value-added investor.

Could you explain what that means, being a “value-add investor?”
Essentially, we like to find hotels that are broken, fix them, stabilize and then sell them for a profit—so we mostly do shorter-term investments. This is because we create the most value in our assets within the first few years of ownership by renovating and repositioning the hotel. Then we sell the asset and redeploy the profits into a different investment opportunity. So we use a buy, renovate, stabilize, and resell investment model.

  • How has the real estate market evolved since you first entered the industry?

The prominence of select-service hotels has become much more prevalent. Not as many developers are building full-service hotels anymore. Brands are focusing more on select-service. We’re seeing more Courtyards and hotel brands at those price points popping up. I see this shift continuing because of customer preferences and development costs.

  • What has been the most exciting transaction you have ever worked on?

Right after the big crash—around 08’ or ’09—I advised a pension fund with a $4 billion resort portfolio that had 17 tranches of debt. It involved the most sophisticated lenders and investors at the time and the real estate was amazing, but it was overleveraged. I found it very interesting to work on because of the complexity of the real estate, the capital structure, and the participants involved. Following the crash, it was one of the most high-profile workouts in the industry at the time.

  • One last question: what advice do you have for students who want to pursue careers in real estate?

Freshman, you should take all the real estate classes you can early on and get as much summer internship experience as you can, because it helps you stand out.

In general, try to get involved in transactions as much as possible. There is so much that you learn from working on transactions. You should certainly look for opportunities where you are going to work with and be taught by smart people, but really seek out firms where you will get a lot of deal volume. Seeing a lot of transactions is how you get better experience, better understanding of real estate, and how you grow your career faster.

* * *

The Cornell Hotel Society Executive Board thanks the Cornell Hotel Society – Collegiate Chapter for initiating and conducting the “Conversations with Alumni” project.

 

Hotelies Unite To Change The Fortunes Of Cambodia’s Youth Through Hospitality

Seth Godin’s latest book, Tribes, describes the culture-altering impact leaders have by simply building tribes of like-minded, passionate people eager to contribute. There is perhaps no better example of this than Hotelie Ben Justus ’08 and his organization Everything’s Gonna Be OK (EGBOK). EGBOK, a nonprofithospitality training school that is changing the face of the hotel industry in Cambodia, owes its creation, in large part, to the network of Cornell Hotel Society alums eager to help Ben turn his vision into a movement — one that’s impacting lives across Cambodia.

Ben Justus EGBOK founder

Ben Justus EGBOK founder

From the beginning, Justus knew attending Cornell was a privilege and developed a deep conviction that he wanted to use that privilege to give back. Although he originally wanted to work with underserved kids, visiting Cambodia on a Spring Break trip inspired him to modify his vision. He noticed how often people are inclined to help children in need, but the young adult population is mostly ignored. This shifted his focus to helping 18-22 year olds get practical, real-world training, creating distinction from other NGO schools set up to serve the country’s youth.

Cambodia, a country torn apart by civil war and genocide, desperately needed regeneration in its hospitality industry. Moreover, its people are exposed to human trafficking and have few opportunities for education or advancement.

After failing to find a organization worthy of donating the $36,000 he raised while at Cornell by selling t-shirts, and then realizing that teaching hospitality classes in a Cambodian orphanage didn’t equip students for independent life and work, Justus decided to found his own hospitality vocational school: EGBOK. Taking a holistic approach, EGBOK recruits Cambodia’s must vulnerable and trains them not only in hospitality but in life skills; it then finds them internships and jobs and continues to offer professional development to alumnus who are working in the hospitality industry.

What’s been truly amazing about the success of EGBOK is that it was built on the backs of volunteers, many of whom are Hotelies. Justus’ passion to see his students succeed has inspired countless others to not only give financially but to contribute their time and skills to equip the school and students for success. His model is impressive: many people — because they have no experience with educating children in a third-world country — feel they have nothing to give. But Justus invites them to use the knowledge and training they do have to give to the school in unique ways, from helping out with accounting to creating the organization’s website. Over two dozen Hotelies have volunteered since the school’s creation — a fact even more impressive when taking into consideration the requirement that all volunteers must give at least three months of their time.

EGBOK 2EGBOK’s continued and growing success is thanks in large part to the CHS alumni network, as well. Several of the people sitting on EGBOK’s Board of Directors are Hotelies including Marge Ferguson and Barry Bloom ’86. And the school simply would not be where it is today if it weren’t for the CHS Asian Pacific Regional Conference in Singapore. This conference enabled Justus to meet many people who had insight into the region and were able to provide invaluable advice and contributions. One such person is Osman Khawaja ’01, another Hotelie.

When Justus met Khawaja at a CHS conference in Siem Reap, Khawaja had already heard about EGBOK from another MMH volunteer, Kathryn Miller ’11. And, once he met Justus and volunteered at the school, he decided to fully commit himself to the school and served first as its Country Director and now serves as its Executive Director.

“The CHS chapters are a great way to stay connected with fellow Hotelies and hear about all the remarkable things happening in the world of hospitality. It was there where I found the links to make the move to the non-profit sector and where we continue to find the much needed support for EGBOK.”

— Osman Khawaja ’01, Executive Director, EGBOK

 

Justus, when asked about CHS’s impact on EGBOK, said that the alumni network has been incredible; that it’s been great to be a part of a worldwide group of people who are willing to throw their talents into a growing nonprofit.

Godin claims that, “great leaders create movements by empowering the tribe to communicate [and] to make connections.” This is evident in Justus’ work; particularly in the way Hotelies across the globe have joined his movement to empower the people of Cambodia.

Hotelies Unite To Change The Fortunes Of Cambodia’s Youth Through Hospitality

Seth Godin’s latest book, Tribes, describes the culture-altering impact leaders have by simply building tribes of like-minded, passionate people eager to contribute. There is perhaps no better example of this than Hotelie Ben Justus ’08 and his organization Everything’s Gonna Be OK (EGBOK). EGBOK, a non-profit hospitality training school that is changing the face of the hotel industry in Cambodia, owes its creation, in large part, to the network of Cornell Hotel Society alums eager to help Ben turn his vision into a movement — one that’s impacting lives across Cambodia.

Ben Justus EGBOK founder

Ben Justus EGBOK founder

From the beginning, Justus knew attending Cornell was a privilege and developed a deep conviction that he wanted to use that privilege to give back. Although he originally wanted to work with underserved kids, visiting Cambodia on a Spring Break trip inspired him to modify his vision. He noticed how often people are inclined to help children in need, but the young adult population is mostly ignored. This shifted his focus to helping 18-22 year olds get practical, real-world training, creating distinction from other NGO schools set up to serve the country’s youth.

Cambodia, a country torn apart by civil war and genocide, desperately needed regeneration in its hospitality industry. Moreover, its people are exposed to human trafficking and have few opportunities for education or advancement.

After failing to find a organization worthy of donating the $36,000 he raised while at Cornell by selling t-shirts, and then realizing that teaching hospitality classes in a Cambodian orphanage didn’t equip students for independent life and work, Justus decided to found his own hospitality vocational school: EGBOK. Taking a holistic approach, EGBOK recruits Cambodia’s must vulnerable and trains them not only in hospitality but in life skills; it then finds them internships and jobs and continues to offer professional development to alumnus who are working in the hospitality industry.

What’s been truly amazing about the success of EGBOK is that it was built on the backs of volunteers, many of whom are Hotelies. Justus’ passion to see his students succeed has inspired countless others to not only give financially but to contribute their time and skills to equip the school and students for success. His model is impressive: many people — because they have no experience with educating children in a third-world country — feel they have nothing to give. But Justus invites them to use the knowledge and training they do have to give to the school in unique ways, from helping out with accounting to creating the organization’s website. Over two dozen Hotelies have volunteered since the school’s creation — a fact even more impressive when taking into consideration the requirement that all volunteers must give at least three months of their time.

EGBOK 2EGBOK’s continued and growing success is thanks in large part to the CHS alumni network, as well. Several of the people sitting on EGBOK’s Board of Directors are Hotelies including Marge Ferguson and Barry Bloom ’86. And the school simply would not be where it is today if it weren’t for the CHS Asian Pacific Regional Conference in Singapore. This conference enabled Justus to meet many people who had insight into the region and were able to provide invaluable advice and contributions. One such person is Osman Khawaja ’01, another Hotelie.

When Justus met Khawaja at a CHS conference in Siem Reap, Khawaja had already heard about EGBOK from another MMH volunteer, Kathryn Miller ’11. And, once he met Justus and volunteered at the school, he decided to fully commit himself to the school and served first as its Country Director and now serves as its Executive Director.

“The CHS chapters are a great way to stay connected with fellow Hotelies and hear about all the remarkable things happening in the world of hospitality. It’s there where I found the links to make the move to the non-profit sector and where we continue to find the much needed support.”
— Osman Khawaja ’01, Executive Director, EGBOK

Justus, when asked about CHS’s impact on EGBOK, said that the alumni network has been incredible; that it’s been great to be a part of a worldwide group of people who are willing to throw their talents into a growing nonprofit.

Godin claims that, “great leaders create movements by empowering the tribe to communicate [and] to make connections.” This is evident in Justus’ work; particularly in the way Hotelies across the globe have joined his movement to empower the people of Cambodia.

To learn more about EGBOK visit their website and watch their inspiring short film.

Hotelie Joins Exclusive Ranks of Master Sommeliers

Jack Mason ’11 didn’t always want to be a Master Sommelier, which makes his achievement — joining the ranks of only 229 Master Sommeliers worldwide before the age of 30 — so remarkable. Indeed, Mason originally enrolled in the Culinary Institute of America with dreams of someday opening his own fine dining restaurant. However, dreams evolve, especially when they’re helped along by the Cornell Hotel Society.

Jack Mason, Marta Wine Director (Photo by Alice Gao)

The partnership between the School of Hotel Administration and the Culinary Institute of America was instrumental to Mason’s journey. This partnership exists so that future restaurateurs can develop impressive culinary skills at CIA while they simultaneously learn how to implement those skills through the strategic business and hospitality techniques taught at Cornell. Despite the fact that the majority of the students in this program begin at SHA and take supplementary courses at CIA, Mason learned of this program while in his second year at the Culinary Institute. He quickly enrolled. It was during a required beverage course that Mason first tasted the intoxicating excitement of wine connoisseurship.

A year later, during Hotel Ezra Cornell, Mason met SHA alumni Greg Harrington while Harrington hosted a beverage class at a CHS event. Increasingly curious about the beverage side of the food industry, Mason took initiative and invited Harrington to lunch. There, he asked questions and gleaned insight into the world of wine. Over time, their back-and-forth developed into an invaluable mentorship as Harrington encouraged Mason toward becoming a Master Sommelier. Harrington provided Mason with wisdom and advice as Mason began to pursue his Master Sommelier title.

However, it wasn’t only this mentorship that equipped Mason with the skills needed to achieve his title. When asked about what stood out to him about his time at SHA, Mason was quick to point out the community that so easily forms, enabled in part by CHS. He believes that these Hotelies mesh so well due, in large part, to their similar DNA: driven, hospitality-focused, group-oriented, and able to operate at an optimal level. Furthermore, the environment SHA creates — group-oriented projects that allow students to work together in real-world scenarios — allows Hotelies to learn how to push each other and when to encourage one another.

Perhaps best of all, though, is that this community tends to last long after school ends. Of these relationships, Mason says, “It’s cool to see how close and small the network of Hotelies can be, especially here in New York.” And Mason has been an integral part of this community, especially as he has now had the opportunity to pass on what Harrington offered him as Mason now is able to contribute to fellow Hotelier Sam Appel’s new venture. Mason’s advice to current students is simple: follow his lead and capitalize on the relationships that not only can but should be built through CHS! Fellow Hotelies are the ones who can help dreams evolve and turn them into reality.

As for Mason, he hopes to soon open his own high/low restaurant: high-quality ingredients paired with an amazing beverage program, but in a more laid back atmosphere than most formal restaurants. Be on the look out for this rising star that Forbes recently named one of their “30 Under 30”!

 

Innovators Soar to Success Thanks to Hotelie Network

Arthur & Grace Chang

Arthur & Grace Chang

If necessity is the mother of invention, extreme discomfort might be the mother of necessity, as Cornell Alumnus Arthur Chang discovered during a return flight from the Dominican Republic back in 2001. After jostling for armrest position yet again, he conceived an idea of a contraption that would provide much needed comfort to a cramped airline seat. He set the idea aside, though, as he entered into the competitive industry of hospitality consulting with Jim Coyle’s ’87 prestigious firm Coyle Hospitality Group; meanwhile, his wife and fellow Cornell Alumnus, Grace, earned her masters degree in architecture and began working in design.

The airline comfort idea never fully died, though, and in 2011 the Changs decided to bring their brainchild to life. Thanks to Arthur’s vision and Grace’s background in design, they created a sleek, lightweight, attachable armrest divider that successfully ends the fight for armrest space, allowing both sides to share equally. The couple searched for ways to bring it to market, but struggled to interest vendors in their design.

Fortunately, they belong to an innovative network of people who share their entrepreneurial spirit: The Cornell Hotel Society. Arthur and Grace began to consult with old friends and fellow Cornell Alumni, who offered valuable insight into the Changs’ branding and marketing strategy. The Changs engaged with Hotelie Kira Kohrherr ’01, who helped with the company’s rebranding;
with a new name and a strategic marketing campaign, Soarigami quickly took off.

Deeply impressed, the television marketing experts at Will It Launch brought Soarigami to “As Seen On TV,” and the Changs’ savvy invention began to revolutionize the travel industry as it received international acclaim and became the “product to have,” according to publications such as Conde Nast Traveler, Fast Company, CNN, Gizmodo, The Atlantic, and over 400 others in 50 countries.

5Thankful not only for the success of their invention but for the instrumental advice and support from their fellow Cornell alumni, the Changs were inspired to give back during Entrepreneurship@Cornell’s Annual Celebration Conference. As Arthur put it, “We were blown away by all the students who have ideas to disrupt industry and change the world. Our idea feels so small compared to these students’ (ideas).” Thus, Arthur and Grace led the way in creating the “Launch your Idea!” consumer product competition.

This competition, made possible by a deal that the Changs brokered between Entrepreneurship@Cornell and Will it Launch, will look for the next big “it” idea among Cornell students and alumni and will connect the winner directly to both funding and to the people who can bring it to market. The Changs’ biggest regret is not going to their CHS network sooner, so they are thrilled at the chance to help others by smoothing the way for fellow Cornell students and alumni.

Arthur and Grace are taking all that they’ve learned from their entrepreneurial adventure and leveraging it into the start-up world. Most significantly, they remember that this sense of community and belonging comes full circle: connected every step of the way to their fellow Hotelies, they received support to become an international success, and now will influence those who follow in their rather impressive footsteps.

Cruise Lines: Hospitality Management on the Move

With a steady pattern of growth, the cruise industry offers a lucrative opportunity for those seeking something different in hospitality. The complexities of managing a moving hotel complete with restaurants, shopping, activities, entertainment, and shore tours — not to mention the maintenance and mechanics of the ship itself — create amazing opportunities to further personal and professional growth and development, as Thatcher Brown ’91 has discovered.

brown-37In the midst of a thriving global career that included a broad range of experience in brand strategy and management, hotel operations, marketing, and product and development, Brown, Vice President of On Board Revenue and Product Development at Costa Crociere, found the challenges of this multifaceted industry to be irresistible. His concentration in International Management continues to serve him well as his responsibilities extend across the “Seven Seas.”

“It’s been an exciting time for me to apply so many different disciplines into such a dynamic role,” Brown said. “Research, analysis, marketing, branding, guest engagement and experience, digital and traditional communications—it’s challenging. Beyond this, being based in Italy and serving multiple markets in Europe, South America, and Asia adds fascinating cultural dimensions. The scale, complexity, and logistics involved with delivering consistent and exceptional quality is staggering given that our ships are deployed all over the world. The cruise industry is remarkable in how they manage and optimize such a capital intensive, multifaceted business.”

Cruise lines are confronted with a number of variables that aren’t always present in land-based hospitality. The constant movement of the vessels requires a great deal of behind-the-scenes attention. From adapting on-board food and beverage offers to the cultural norms of diverse source markets to the extensive day-to-day maintenance requirements of operating a ship that carries thousands of passengers, the intricacies of management can be challenging. Overall, however, the founding principles of exceptional service and relentless execution of a clear brand and business strategy do not change.

“It all boils down to what we first learned as ‘hotelies’: listening to your guests, being passionate about delivering exceptional service and optimizing your business proposition … and, of course, ‘location, location, location’ (itinerary and destination development in the case of the cruise industry),” says Brown. “One of the challenges both on the hotel side and the cruise side is, how do you distinguish yourself through relevant value propositions that support your distinct positioning? The winners are the brands that sustain growth by challenging the norms, both on incremental and step-change levels, to create better yields and competitive advantage. Every day, I am proud to bring to my profession a curiosity, a passion to make a positive difference, and a work ethic that I credit a great deal to my Cornell and Statler Hall days.”