A Look Back To Look Forward: New Patterns In The Supply/Demand Equation In The Lodging Industry

In his dialogue entitled - A Look Back to Look Forward: New Patterns In The Supply/Demand Equation In The Lodging Industry - by Albert J. Gomes, Senior Principal, Pannell Kerr Forster, Washington, D.C. What the author intends for you to know is the following: “Factors which influence the lodging industry in the United States are changing that industry as far as where hotels are being located, what clientele is being served, and what services are being provided at different facilities. The author charts these changes and makes predictions for the future.” Gomes initially alludes to the evolution of transportation – the human, animal, mechanical progression - and how those changes, in the last 100 years or so, have had a significant impact on the hotel industry. “A look back to look forward treats the past as prologue. American hoteliers are in for some startling changes in their business,” Gomes says. “The man who said that the three most important determinants for the success of a hotel were “location, location, location” did a lot of good only in the short run.” Gomes wants to make you aware of the existence of what he calls, “locational obsolescence.” “Locational obsolescence is a fact of life, and at least in the United States bears a direct correlation to evolutionary changes in transportation technology,” he says. “…the primary business of the hospitality industry is to serve travelers or people who are being transported,” Gomes expands the point. Tied to the transportation element, the author also points out an interesting distinction between hotels and motels. In addressing, “…what clientele is being served, and what services are being provided at different facilities,” Gomes suggests that the transportation factor influences these constituents as well. Also coupled with this discussion are oil prices and shifts in transportation habits, with reference to airline travel being an ever increasing method of travel; capturing much of the inter-city travel market. Gomes refers to airline deregulation as an impetus. The point being, it’s a fluid market rather than a static one, and [successful] hospitality properties need to be cognizant of market dynamics and be able to adjust to the variables in their marketplace. Gomes provides many facts and figures to bolster his assertions. Interestingly and perceptively, at the time of this writing, Gomes alludes to America’s deteriorating road and bridge network. As of right now, in 2009, this is a major issue. Gomes rounds out this study by comparing European hospitality trends to those in the U.S.

Interrole Conflicts in the Hospitality Industry: The Role of Positive Affectivity as an Antidote

This study investigates the role of positive affectivity as a buffer against the detrimental effects of interrole conflicts on frontline hotel employees’ job performance and turnover intentions. Data collected from a sample of frontline hotel employees in Turkey serve as the study setting. Results and their implications are discussed, and directions for future research are offered.

Importance-Performance Analysis of Guest Entertainment Technology Amenities in the Lodging Industry

An assessment of how hotel guests view in-room entertainment-technology amenities was conducted to compare the importance of these technologies to how they performed. In-room entertainment technology continues to evolve in the hotel industry. However, given the multitude of entertainment products available in the marketplace today, hoteliers have little understanding of guests’ expectations and of which in-room entertainment-technology amenities will drive guest satisfaction and increase loyalty to the hotel brand. Given that technology is integral to a hotel stay, this study seeks to evaluate the importance and performance of in-room entertainment-technology amenities. Findings indicate that free-to-guest television (FTG TV) and high-speed Internet access were the two most important inroom entertainment-technology amenities when it comes to the selection of a hotel for both leisure and business travelers. The Importance/Satisfaction Matrix presented in the current study showed that many of the in-room entertainment-technology amenities are currently a low priority for guests. Keywords: importance-performance analysis, hotel, in-room entertainment technologies

A Review of Merger and Acquisition Wave Literature: Proposing Future Research in the Restaurant Industry

The purpose of this study is to identify research trends in Merger and Acquisition waves in the restaurant industry and propose future research directions by thoroughly reviewing existing Merger and Acquisition related literature. Merger and Acquisition has been extensively used as a strategic management tool for fast growth in the restaurant industry. However, there has been a very limited amount of literature that focuses on Merger & Acquisition in the restaurant industry. Particular, no known study has been identified that examined M&A wave and its determinants. A good understanding of determinants of M&A wave will help practitioners identify important factors that should be considered before making M&A decisions and predict the optimal timing for successful M&A transactions. This study examined literature on six U.S M&A waves and their determinants and summarized main explanatory factors examined, statistical methods, and theoretical frameworks. Inclusion of unique macroeconomic factors of the restaurant industry and the use of factor analysis are suggested for future research.

Gimme' A Break: Offering Sabbaticals as an Optional Leave Benefit in the Lodging Industry

ABSTRACT The purpose of this study is to investigate the extended leave programs offered by lodging companies in the United States and to suggest a model that could be used in the lodging industry. This model mirrors successful sabbatical leave programs offered by leading companies featured in the annual report, 100 Best Companies to Work For (from this point forward, referred to as 100 Best), published on-line by Fortune Magazine, 2013 (CNN, 2013). While extended leave programs are not entirely lacking in the industry, our research discovered that such leave systems are rare. According to the companies investigated that offer a sabbatical leave program, this benefit offers highly sought after time away from work for top performing employees at the management and higher levels. The benefits reported include happier employees who have increased feelings of company loyalty, job satisfaction, and overall better attitudes. The sponsoring companies stated that those who take part in such leave contribute at a higher level upon their return, bringing fresh ideas and a renewed commitment to the company’s success.

Consumer Perceptions of Sustainability in the Cruise Industry

This thesis addresses the lack of available research regarding consumer perceptions of sustainability in the cruise industry. The study was conducted by administering an anonymous online survey with cruise message board participants and social media users. The survey was available to all consumers, including consumers who have not cruised. The survey focused on general reasons a consumer books a cruise, consumer travel behaviors, sustainability of the cruise industry, and sustainable factors that may impact a consumers’ choice of a cruise line. The goal of this research was to determine any patterns and trends that may emerge regarding consumer perceptions. The findings of the study showed cruise history and demographics have influenced consumer views on sustainability in the cruise industry.

The civilising tension at the heart of market-making: a case study of the stent industry

We are interested in the emergence of new markets. While the literature contains various perspectives on how such new markets come to be, the dynamics of the marketization process are less clear. This paper focuses on the development of stent technology and examines the activities characteristic of its emerging market. We identify four market ‘moments’: a mutable marketing moment prior to the point of disruption; two parallel moments at the point of disruption – internecine marketing between emergent competitors, and subversive marketing between those competitors and established actors; and finally, a civilized marketing moment. We conclude that emergent competitors operate two distinct strategies at the point of disruption. Also, legal activities are central to marketization dynamics during this period. In terms of process, while creative destruction may broadly describe the move from disruption to acceptance, there is a period of creative construction prior to disruption, when the new market is coming into being.

Innovation in the pharmaceutical industry: New estimates of R&D costs.

The research and development costs of 106 randomly selected new drugs were obtained from a survey of 10 pharmaceutical firms. These data were used to estimate the average pre-tax cost of new drug and biologics development. The costs of compounds abandoned during testing were linked to the costs of compounds that obtained marketing approval. The estimated average out-of-pocket cost per approved new compound is $1395 million (2013 dollars). Capitalizing out-of-pocket costs to the point of marketing approval at a real discount rate of 10.5% yields a total pre-approval cost estimate of $2558 million (2013 dollars). When compared to the results of the previous study in this series, total capitalized costs were shown to have increased at an annual rate of 8.5% above general price inflation. Adding an estimate of post-approval R&D costs increases the cost estimate to $2870 million (2013 dollars).

A Social Networking Strategy for Improving Knowledge Management and Communication in the Travel Industry

In today’s technology-driven marketplace, the adoption and management of corporate and customer-facing Social Networking Sites (SNs) is often viewed as a key success factor for Travel Industry (TI) organisations. Knowledge management and the sharing of expertise and experiences through communication between internal and external stakeholders via social networks is an activity which TI organisations are aiming to exploit in order to improve the open sharing, retrieval, organisation and leveraging of knowledge. Through a study of currently-available literature relating to social networking adoption within the TI and a case study analysis of corporate social networking practices at three multi-national TI organisations (British Airways, Thomas Cook and Marriott Hotels), it may be observed that correlations exist between the development of social networking and the processes TI organisations now use to manage knowledge. We explore how these companies are currently utilizing SNs to improve knowledge management practices inside and outside of their organisational boundaries. From our analysis, lessons may emerge as to how TI companies are gaining competitive advantage through the use of social networking; a proposed strategy is identified to determine how TI organisations may make best use of social networks.

Nanotechnology in the food industry I: applications

Nanotechnology is a multidisciplinary science that is having a boom today, providing new products with attractive physicochemical properties for many applications. In agri/feed/food sector, nanotechnology offers great opportunities for obtaining products and innovative applications for agriculture and livestock, water treatment and the production, processing, storage and packaging of food. To this end, a wide variety of nanomaterials, ranging from metals and inorganic metal oxides to organic nanomaterials carrying bioactive ingredients are applied. This review shows an overview of current and future applications of nanotechnology in the food industry. Food additives and materials in contact with food are now the main applications, while it is expected that in the future are in the field of nano-encapsulated and nanocomposites in applications as novel foods, additives, biocides, pesticides and materials food contact.

Cross-calibrating ALES Envisat and CryoSat-2 Delay-Doppler: A coastal altimetry study in the Indonesian Seas

A regional cross-calibration between the first Delay Doppler altimetry dataset from Cryosat-2 and a retracked Envisat dataset is here presented, in order to test the benefits of the Delay-Doppler processing and to expand the Envisat time series in the coastal ocean. The Indonesian Seas are chosen for the calibration, since the availability of altimetry data in this region is particularly beneficial due to the lack of in-situ measurements and its importance for global ocean circulation. The Envisat data in the region are retracked with the Adaptive Leading Edge Subwaveform (ALES) Retracker, which has been previously validated and applied successfully to coastal sea level research. The study demonstrates that CryoSat-2 is able to decrease the 1-Hz noise of sea level estimations by 0.3 cm within 50 km of the coast, when compared to the ALES-reprocessed Envisat dataset. It also shows that Envisat can be confidently used for detailed oceanographic research after the orbit change of October 2010. Cross-calibration at the crossover points indicates that in the region of study a sea state bias correction equal to 5% of the significant wave height is an acceptable approximation for Delay-Doppler altimetry. The analysis of the joint sea level time series reveals the geographic extent of the semiannual signal caused by Kelvin waves during the monsoon transitions, the larger amplitudes of the annual signal due to the Java Coastal Current and the impact of the strong La Nina event of 2010 on rising sea level trends.

Cross-calibrating ALES Envisat and CryoSat-2 Delay-Doppler: A coastal altimetry study in the Indonesian Seas

A regional cross-calibration between the first Delay Doppler altimetry dataset from Cryosat-2 and a retracked Envisat dataset is here presented, in order to test the benefits of the Delay-Doppler processing and to expand the Envisat time series in the coastal ocean. The Indonesian Seas are chosen for the calibration, since the availability of altimetry data in this region is particularly beneficial due to the lack of in-situ measurements and its importance for global ocean circulation. The Envisat data in the region are retracked with the Adaptive Leading Edge Subwaveform (ALES) Retracker, which has been previously validated and applied successfully to coastal sea level research. The study demonstrates that CryoSat-2 is able to decrease the 1-Hz noise of sea level estimations by 0.3 cm within 50 km of the coast, when compared to the ALES-reprocessed Envisat dataset. It also shows that Envisat can be confidently used for detailed oceanographic research after the orbit change of October 2010. Cross-calibration at the crossover points indicates that in the region of study a sea state bias correction equal to 5% of the significant wave height is an acceptable approximation for Delay-Doppler altimetry. The analysis of the joint sea level time series reveals the geographic extent of the semiannual signal caused by Kelvin waves during the monsoon transitions, the larger amplitudes of the annual signal due to the Java Coastal Current and the impact of the strong La Nina event of 2010 on rising sea level trends.

Lexical Interference in Semantic Processing of Simple Words: Implications for Brand Names

This study provides evidence for a Stroop-like interference effect in word recognition. Based on phonologic and semantic properties of simple words, participants who performed a same/different word-recognition task exhibited a significant response latency increase when word pairs (e.g., POLL, ROD) featured a comparison word (POLL) that was a homonym of a synonym (pole) of the target word (ROD). These results support a parallel-processing framework of lexical decision making, in which activation of the pathways to word recognition may occur at different levels automatically and in parallel. A subset of simple words that are also brand names was examined and exhibited this same interference. Implications for word recognition theory and practical implications for strategic marketing are discussed.

The International <IR> Framework’s impact on the social and relationship disclosures in the healthcare industry

Abstract Background and Problem: The altering business world and the growing requests from stakeholders have resulted in the establishment of new reports. These are among others Sustainability reports and Integrated Reporting. On the contrary, traditional financial reports do not consider the significance of intangible assets in modern entities. The social and relationship capital has further shown to be important for firms, especially healthcare companies and pharmaceuticals, but is not as developed as other capitals within the <IR> framework and therefore not always included in annual reports. However too few disclosures within this area could lead to high liabilities. The IIRC launched the <IR> framework year 2013 as a solution, as it gives a more comprehensive view of the reporting entity. Within this framework there are six capitals: manufactured, human, financial, natural, intellectual and social and relationship.   Purpose: The purpose of this thesis is to find out how the International <IR> Framework has influenced the reporting of the social and relationship disclosures within the healthcare industry, to compare the reporting of the six medical firms chosen and to examine how the social concerns have been developed over time. Delimitations: This study is conducted over a period of three years, from year 2012 to year 2014. It only examines healthcare companies which use the International <IR> framework and it has solely focus on the social and relationship capital. All other capitals within the <IR> framework are excluded from the study. Method: This study has a qualitative research strategy and is based on information collected from published documents in form of annual reports. The annual reports from year 2010, 2011 and 2012 are used to find social and relationship disclosures and a disclosure scoreboard is used to find similarities, differences and patterns. Empirical Results and Conclusion: It has been found that the aggregated social and relationship disclosures have been reduced over time. The year followed by the release of the <IR> framework was seen to have the least disclosures and therefore conclusion was drawn that the <IR> framework had a negative influence on the social and relationship disclosures. There were also differences among the companies studied both in extent and content. The former could be linked to factors such as size and nationality and the latter could be linked to reputation preservation and legitimacy interests.