Top Web Picks: TravelGreen.org

March 26, 2009

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TravelGreen.org, produced by the U.S. Travel Association and American Express, is an excellent source for information on sustainability efforts within the travel community. The site documents the latest developments in sustainable travel and profiles case studies from each sector of the industry, including hotels, restaurants, cruise lines, airlines, and more.

One of the most interesting aspects of TravelGreen.org is the travel industry case studies. This area of the site provides a forum for travel companies to share their success stories on the development of programs that mitigate the impact of travel on the environment. Case studies include documentation from several hospitality organizations such as Marriott International, Yosemite National Park, and American Society of Travel Agents.


Lodging Industry Decline Deepens

March 18, 2009

A revised lodging forecasts predicts that the current decline in the U.S. lodging industry will be deeper and last longer than previously predicted. PKF Hospitality Research, in its March 2009 edition of Hotel Horizons, foresees a grim outlook for the remainder of this year.

Their most recent forecast calls for a 13.7 percent decline in Revenue Per Available Room (RevPAR) during 2009, as opposed to the 9.8 percent decline anticipated earlier this year.  The revised 2009 forecast is the result of a 7.8 percent fall off in occupancy and a 6.4 percent drop in Average Daily Rate (ADR) for the year.

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For additional data about the U.S. lodging industry, including forecasts to 2013, view the full Hotel Horizons report. Cornell students have access to Hotel Horizons from the Nestlé Library web site. Just use the drop-down menu of Popular Databases on the library home page.


Restaurant Chains Look to Satisfy Locavores

March 10, 2009

Eating locally grown produce is important to restaurant customers, as evident by the growing number of locavores. “Locavore” (which combines “local” with “omnivore” or “herbivore”) is such a popular concept that it was named the 2007 Word of the Year by the New Oxford American Dictionary. The term refers to residents who try to eat food grown or produced within a 100-mile radius, which means eating only locally produced food.

Restaurant chains are responding to the demand for locally grown produce, although in different ways. Some feature local produce in regional, limited-time offers. Others source local products at peak season only. Still others find local sources for core menu items such as dairy and meat that are available year-round.

A recent article published in Chain Leader examines how restaurant chains are overcoming challenges and doing more to explore local-sourcing options. Issues of Chain Leader can be found on the shelves in the Nestlé Library. Additionally, members of the Cornell community can access electronic copies of the magazine.

Read a March, 2008 article from the Cornell Chronicle that examines the locavore trend in Ithaca.


Compostable vs. Biodegradable vs. Recyclable

March 5, 2009

recycleSustainable packaging is a hot topic in the foodservice industry. Terms such as compostable, biodegradable, and recyclable are used frequently – but what does each term actually mean?

A recent article in QSR Magazine spelled out the difference of each term and the implications for restaurateurs. In a nutshell, compostable products must biodegrade at a specified rate (as defined by ASTM International standards), biodegradable refers to anything that breaks into smaller and smaller pieces until microorganisms can consume it, and recyclable products are anything that can be remade into something new.

Read the full article, including a case study of how McDonald’s reduced its packaging by more than 300 million pounds cumulatively in the 1990s.


The Historical Performance of Hospitality Stocks

March 2, 2009

chqAn analysis of four decades of hospitality industry stock returns shows that investors have done a poor job of timing the market. According to research by Cornell professor David Weinbaum, the timing of investment flows has been inverse to stock performance. Weinbaum’s analysis of hotel investment and hospitality industry investing, “Assessing the Historical Performance of Hospitality Stocks: The Investor’s Perspective,” is published in the February 2009 issue of Cornell Hospitality Quarterly.

The article analyzes the historical performance of hospitality stocks, taking into account the magnitude and timing of investor capital flows in and out of the hospitality sector. For hospitality investors, market timing translates into a shortfall of 1.5 percent per year over the time period 1962—2006. A value-weighted portfolio of both restaurant and hotel firms earns a lower average return over this time period compared to a similar portfolio of either hotel or restaurant stocks only, because of the same timing issue.

Cornell student can access this article from the Center for Hospitality Research web site (free registration required). Full-text electronic access to Cornell Hospitality Quarterly is available through the library’s Find eJournals service.


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