Give and You Shall Receive: Investing in the Careers of Women Professionals

Purpose – The purpose of this paper is to explore what organizations can do to facilitate the retention and advancement of women professionals into top leadership positions. A social exchange framework is applied to examine ways organizations can signal support for and investment in the careers of women professionals, and ultimately the long-term work relationship. Design/methodology/approach – This paper employed a qualitative methodology; specifically, semi-structured interviews with 20 women executives, in primarily the US hospitality industry, were conducted. The interviews were recorded, transcribed, and content analyzed. Findings – Organizations are likely to strengthen the retention of their female professionals if they signal support through purposeful, long-term career development that provides a sightline to the top, and ultimately creates more female role models in senior-level positions. Organizations can also signal support through offering autonomy over how work is completed, and designing infrastructures of support to sustain professionals during mid-career stages. Findings are used to present a work-exchange model of career development. Research limitations/implications – This research is an exploratory study that is limited in its scope and generalizability. Practical implications – The proposed work-exchange model can be used to comprehensively structures initiatives that would signal organizational support to – and long-term investment in – female professionals and enable them to develop their career paths within their organizations. Originality/value – Through offering a work-exchange model of career development, this paper identifies components of organizational support from a careers perspective, and highlights the factors that could potentially contribute to long-term growth and retention of women professional

Highlights from the 2016 Sustainable and Social Entrepreneurship Enterprises Roundtable

The April 2016 Sustainable and Social Entrepreneurship Enterprises roundtable brought together over 20 faculty, students, and leaders and entrepreneurs from a wide variety of mission-driven enterprises that focus on sustainability or social welfare. Jeanne Varney, lecturer at the School of Hotel Administration, opened the day by inviting attendees to speak to and even test some of their innovative ideas on fellow participants during the day. Varney noted: “One of our goals for the roundtable was to have a really diverse set of attendees and to hear a lot of different perspectives.”

An Empirical Analysis of Performance Impacts Resulting From Conversion to Franchise Operations

Franchising is an important form of organizational control. Possible benefits of franchising include its ability to reduce agency costs that increase with costly monitoring, and provide incentives for the use of local information by onsite managers. However, these benefits may come at a cost, as franchisees may reduce quality by choosing to free ride. While many studies have investigated the reasons for franchising, few studies have documented the impacts of franchising on unit level operating performance. Using time-series data from a number of lodging properties that were converted to franchisee control from company control, this study documents the performance impacts of franchising. The analysis reveals that conversion results in a modest decline in financial performance and an immediate sharp decline in quality.

Innovations in Hospitality Human Resources: Cases from the U.S. Lodging Industry

[Excerpt] Today’s hospitality and tourism companies face complex, dramatically shifting challenges, most notably the need to compete for increasingly sophisticated customers in a global, fluid marketplace. To attract and retain the loyal cadre of customers that will ensure the organization’s success, service companies such as hospitality organizations must employ technologically advanced, yet margin sensitive, product and pricing strategies and practices that will differentiate themselves to their intended market. Even more importantly, these service organizations need to devise strategies that will capture and retain the most important yet, from a financial perspective, unrecognized asset on the balance sheet: the employees that design and deliver the service to the customer base. Human resource strategists (i.e. Becker & Gerhart, 1996; Cappelli & Crocker-Hefter, 1996; O’Reilly & Pfeffer, 2000; Pfeffer, 1998; Ulrich, 1997), including those who take a hospitality perspective (i.e. Baumann, 2000; Hume, 2000; Worcester, 1999) advocate a renewed attention to the investment in employees or “human capital” as a source of strategic competitive advantage.

A Flow-Through Analysis of the US Lodging Industry During the Great Recession

Purpose – The objective of this exploratory study is to investigate the “flow-through” or relationship between top-line measures of hotel operating performance (occupancy, average daily rate and revenue per available room) and bottom-line measures of profitability (gross operating profit and net operating income), before and during the recent great recession. Design/methodology/approach – This study uses data provided by PKF Hospitality Research for the period from 2007-2009. A total of 714 hotels were analyzed and various top-line and bottom-line profitability changes were computed using both absolute levels and percentages. Multiple regression analysis was used to examine the relationship between top and bottom line measures, and to derive flow-through ratios. Findings – The results show that average daily rate (ADR) and occupancy are significantly and positively related to gross operating profit per available room (GOPPAR) and net operating income per available room (NOIPAR). The evidence indicates that ADR, rather than occupancy, appears to be the stronger predictor and better measure of RevPAR growth and bottom-line profitability. The correlations and explained variances are also higher than those reported in prior research. Flow-through ratios range between 1.83 and 1.91 for NOIPAR, and between 1.55 and 1.65 for GOPPAR, across all chain-scales. Research limitations/implications – Limitations of this study include the limited number of years in the study period, limited number of hotels in a competitive set, and self-selection of hotels by the researchers. Practical implications – While ADR and occupancy work in combination to drive profitability, the authors' study shows that ADR is the stronger predictor of profitability. Hotel managers can use flow-through ratios to make financial forecasts, or use them as inputs in valuation models, to forecast future profitability. Originality/value – This paper extends prior research on the relationship between top-line measures and bottom-line profitability and serves to inform lodging owners, operators and asset managers about flow-through ratios, and how these ratios impact hotel profitability.

Exploring Ideas from Hospitality, Health Management, and Design for Senior Housing and Care: Insights from 2016 CIHF Senior Living Roundtable

The first Cornell Institute for Healthy Futures (CIHF) roundtable, held in April 2016, brought together senior-level executives, educators, and leaders in senior housing and care to share experiences and exchange ideas. CIHF roundtables are purposely limited to approximately 25 to 30 participants “at the table” to foster discussion on a more intimate basis than traditional conferences. In addition to the formal participants, students, faculty, and guests observed and interacted during the event and attended a separate panel discussion, and reception the evening before. Students, faculty, and industry leaders also met together at a working luncheon session to brainstorm ideas for recruiting and training young talent for careers in the senior housing and care industry.