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Originally known as Hospitality Valuation Services, the company was founded by Steve Rushmore in 1980 in a one-room office in [[Garden City, New York]]. Rushmore, a graduate of the [[Cornell University School of Hotel Administration]] <ref>http://www.hotelschool.cornell.edu/about/pubs/news/newsdetails.html?id=609 (11-11-2009) Fourth Paragraph. Retrieved 2010-11-16.</ref>, drew upon his experience as head of the hospitality consulting division of [[Helmsley-Spear]], a position he took on in 1971. At that time, there were valuation companies specializing in appraising real estate (but not hotel operations) and accounting firms knowledgeable in hotel operations (but not real estate). Recognizing the need for an appraisal company that specialized in the hospitality arena, Rushmore pursued membership in the [[Appraisal Institute]] (then known as the American Institute of Real Estate Appraisers).<ref name="EarlyAI" /> When he received the MAI<ref name="MAI">Member of the Appraisal Institute; http://www.appraisalinstitute.org/findappraiser/show_Member_Profile.asp?p=RbAKPVd4JnqhrEZbNM3zuaTKNFlFbOj3tG4ORb(1976) Retrieved 2010-11-04.</ref> [[professional certification|designation]] from the Institute in 1976, Rushmore enjoyed the distinction of being the Institute's only member with a degree in hotel administration.<ref>"The House that Steve Built" (2002-10). Cover story, fourth paragraph. ''Lodging'' magazine.</ref>
Originally known as Hospitality Valuation Services, the company was founded by Steve Rushmore in 1980 in a one-room office in [[Garden City, New York]]. Rushmore, a graduate of the [[Cornell University School of Hotel Administration]] <ref>http://www.hotelschool.cornell.edu/about/pubs/news/newsdetails.html?id=609 (11-11-2009) Fourth Paragraph. Retrieved 2010-11-16.</ref>, drew upon his experience as head of the hospitality consulting division of [[Helmsley-Spear]], a position he took on in 1971. At that time, there were valuation companies specializing in appraising real estate (but not hotel operations) and accounting firms knowledgeable in hotel operations (but not real estate). Recognizing the need for an appraisal company that specialized in the hospitality arena, Rushmore pursued membership in the [[Appraisal Institute]] (then known as the American Institute of Real Estate Appraisers).<ref name="EarlyAI" /> When he received the MAI<ref name="MAI">Member of the Appraisal Institute; http://www.appraisalinstitute.org/findappraiser/show_Member_Profile.asp?p=RbAKPVd4JnqhrEZbNM3zuaTKNFlFbOj3tG4ORb(1976) Retrieved 2010-11-04.</ref> [[professional certification|designation]] from the Institute in 1976, Rushmore enjoyed the distinction of being the Institute's only member with a degree in hotel administration.<ref>"The House that Steve Built" (2002-10). Cover story, fourth paragraph. ''Lodging'' magazine.</ref>


Combining his Appraisal Institute membership with his hotel school degree from Cornell, Rushmore then wrote an appraisal [[textbook]] for the hospitality industry, ''The Valuation of Hotels and Motels'',<ref name="1stBook">Rushmore, Stephen (1978). ISBN 0-911780-44-0.</ref> <ref name="EarlyAI">http://www.appraisalinstitute.org/about/history.aspx First paragraph. Retrieved 2010-11-16.</ref> which the Institute published in 1978. The text has been updated four times; the most recent publication is ''Hotels & Motels: Valuations and Market Studies''.<ref>Rushmore, Stephen, and Erich Baum (2001). Appraisal Institute. ISBN 0-922154-70-8. http://www.appraisalinstitute.org/store/p-19-hotels-and-motels-valuations-and-market-studies.aspx Retrieved 2010-11-23.</ref>; this publication has been described as "the seminal text on the art and science of hotel appraisals".<ref>Watkins, Ed (2010-05-06). "HVS Marks 30th Anniversary". Second paragraph. ''Lodging Hospitality''. http://lhonline.com/consulting/HVS_consulting_appraisal_transactions_0506/index.html Retrieved 2010-10-28.</ref> This, and other publications by Rushmore, established the methodology for appraising hotels that is today considered an [[industry standard]].<ref name="HansonQuote">Watkins, Ed (2010-05-06). "HVS Marks 30th Anniversary". Third Paragraph. ''Lodging Hospitality''. http://lhonline.com/consulting/HVS_consulting_appraisal_transactions_0506/index.html Retrieved 2010-10-28. Quotation from Bjorn Hanson, Divisional Dean and Clinical Professor of Hospitality and Tourism Management, NYU Tisch Center for Hospitality, Tourism, and Sports Management.</ref>
Combining his Appraisal Institute membership with his hotel school degree from Cornell, Rushmore then wrote an appraisal [[textbook]] for the hospitality industry, ''The Valuation of Hotels and Motels'',<ref name="1stBook">Rushmore, Stephen (1978). ISBN 0-911780-44-0.</ref> <ref name="EarlyAI">http://www.appraisalinstitute.org/about/history.aspx First paragraph. Retrieved 2010-11-16.</ref> which the Institute published in 1978. The text has been updated four times, and the most recent publication is ''Hotels & Motels: Valuations and Market Studies''.<ref>Rushmore, Stephen, and Erich Baum (2001). Appraisal Institute. ISBN 0-922154-70-8. http://www.appraisalinstitute.org/store/p-19-hotels-and-motels-valuations-and-market-studies.aspx Retrieved 2010-11-23.</ref>; this publication has been described as "the seminal text on the art and science of hotel appraisals".<ref>Watkins, Ed (2010-05-06). "HVS Marks 30th Anniversary". Second paragraph. ''Lodging Hospitality''. http://lhonline.com/consulting/HVS_consulting_appraisal_transactions_0506/index.html Retrieved 2010-10-28.</ref> This, and other publications by Rushmore, established the methodology for appraising hotels that is today considered an [[industry standard]].<ref name="HansonQuote">Watkins, Ed (2010-05-06). "HVS Marks 30th Anniversary". Third Paragraph. ''Lodging Hospitality''. http://lhonline.com/consulting/HVS_consulting_appraisal_transactions_0506/index.html Retrieved 2010-10-28. Quotation from Bjorn Hanson, Divisional Dean and Clinical Professor of Hospitality and Tourism Management, NYU Tisch Center for Hospitality, Tourism, and Sports Management.</ref>


Capitalizing on its singular status as the only consulting and valuation company dedicated solely to the hospitality industry, HVS expanded, opening a West Coast office in San Francisco five years later, followed by offices in London, Colorado, and Florida. To help market its hotel consulting and valuation services and to establish itself as the leader in this field, the company began disseminating a broad spectrum of complimentary information to the lodging industry. HVS encouraged its associates to publish articles on informative, timely, and interesting topics for the lodging industry, and they have since written on a range of hospitality-related topics, including hotel investment, lending, operations, asset management, sales and marketing, and public relations.
Capitalizing on its singular status as the only consulting and valuation company dedicated solely to the hospitality industry, HVS expanded, opening a West Coast office in San Francisco five years later, followed by offices in London, Colorado, and Florida. Today, the company has a presence in nearly thirty cities on five continents.


==Operations==
⚫
HVS conducts seminars on hotel valuation for the Appraisal Institute and other organizations around the world and has trained more than 20,000 appraisers and industry professionals. HVS principals and associates help educate future hospitality industry leaders by guest lecturing and teaching courses at major universities and hotel schools. HVS research and data-gathering about historical and projected hotel value trends, sales transaction data, compensation programs, franchise fees, hotel franchise development costs, and hotel renovation costs provide data to industry participants.<ref>Turkel, Stan (2010-06-19) http://www.bluemaumau.org/welldeserved_compliment_steve_rushmore Second paragraph. Retrieved 2010-11-17.</ref>


⚫
The organizational structure and operations of HVS are modeled on that of other consulting firms, such as [[McKinsey & Company]], particularly with regards to the company's recruitment of hospitality students from prestigious universities and its compensation structure. <ref>Watkins, Ed (2010-05-06). "HVS Marks 30th Anniversary". Seventh paragraph. ''Lodging Hospitality''. http://lhonline.com/consulting/HVS_consulting_appraisal_transactions_0506/index.html Retrieved 2010-10-28.</ref> Although the learning curve is steep, those who thrive in the company's [[entrepreneur]]ial environment have the opportunity to transfer to other offices in a different part of the globe. In a May 2010 cover story about HVS, ''Lodging Hospitality'' magazine opined, "The list of alumni reads like a who's who of the most highly regarded consultants, development executives and financial experts in the worldwide lodging industry."<ref>Watkins, Ed (2010-05-06). "HVS Marks 30th Anniversary". First paragraph. http://lhonline.com/consulting/HVS_consulting_appraisal_transactions_0506/index.html Retrieved 2010-11-18.</ref>
==Relationships with academia==


To help market its hotel consulting and valuation services, HVS began disseminating a broad spectrum of complimentary information to the lodging industry. HVS encouraged its associates to publish articles on informative, timely, and interesting topics for the lodging industry, and the research and writings of HVS associates are published and cited in a number of [[academic journal]]s {{citation needed}}.
⚫
To foster academic research at [[New York University]]'s [[Tisch Center for Hospitality, Tourism, and Sports Management]], HVS endows the HVS Chair <ref>http://www.scps.nyu.edu/export/sites/scps/areas-of-study/tisch/hospitality-conference/special-message-from-jonathan-tisch.pdf Dr. Lalia Rach, HVS Professor. Sixth paragraph. Retrieved 2010-11-17.</ref> and funded the Rushmore–Jennings Computer Library. Among its contributions to Cornell University's Hotel School, HVS endows a professorial chair in finance and real estate,<ref>http://www.hotelschool.cornell.edu/about/pubs/news/newsdetails.html?id=287 (2005-02-01). Third paragraph. Retrieved 2010-11-17.</ref> and is a corporate partner in Cornell's Center for Hospitality Research.<ref>http://www.hotelschool.cornell.edu/about/pubs/news/newsdetails.html?id=287 (2005-02-01). First paragraph. Retrieved 2010-11-17.</ref>


⚫
HVS conducts seminars on hotel valuation for the Appraisal Institute and other organizations around the world and has trained more than 20,000 appraisers and industry professionals. HVS research and data-gathering about historical and projected hotel value trends, sales transaction data, compensation programs, franchise fees, hotel franchise development costs, and hotel renovation costs provides data to industry participants.<ref>Turkel, Stan (2010-06-19) http://www.bluemaumau.org/welldeserved_compliment_steve_rushmore Second paragraph. Retrieved 2010-11-17.</ref>
The HVS methodology for valuing hotels and the valuation software HVS created are used around the world today, and HVS associates have helped teach this methodology to hotel owners, lenders, and operators. The firm has donated the sophisticated, three-program software to Cornell's Hotel School for complimentary distribution to the industry.


==Research and conference sponsorship==
⚫
Each year, HVS plays a significant role in New York University's International Hospitality Industry Investment Conference, the industry's most prestigious gathering. HVS presents its annual report on Hotel Valuation and Transaction Trends for the U.S. Lodging Industry to conference attendees.<ref>http://hotellaw.jmbm.com/2009/06/hospitality_lawyer_what_lies_a.html Butler, Jim and the Global Hospitality Group (2009-06-14). Retrieved 2010-11-17.</ref> An HVS executive serves as the conference coordinator,<ref>http://www.scps.nyu.edu/export/sites/scps/areas-of-study/tisch/hospitality-conference/hospitality-conference-speaker-bios.pdf Page 3. Retrieved 2010-11-17.</ref> and other HVSers serve as panel moderators and speakers.<ref>http://www.scps.nyu.edu/export/sites/scps/areas-of-study/tisch/hospitality-conference/hospitality-conference-speaker-bios.pdf Pages 11, 30, 37. Retrieved 2010-11-17.</ref> Additionally, in the months prior to the conference, the firm provides insight for the development of the Manhattan Hotel Market Overview Survey conducted by graduate students of New York University. HVS distributes the results of the student survey and analysis to conference attendees as part of the firm's annual Manhattan Hotel Market Overview.


⚫
Consistent with the academic background of the company's founder, HVS supports several institutions of higher learning that specialize in hospitality. To foster academic research in the field, HVS endows [[professorial chair]]s at both [[New York University]]'s [[Tisch Center for Hospitality, Tourism, and Sports Management]] and [[Cornell University]]'s hotel school <ref>http://www.scps.nyu.edu/export/sites/scps/areas-of-study/tisch/hospitality-conference/special-message-from-jonathan-tisch.pdf Dr. Lalia Rach, HVS Professor. Sixth paragraph. Retrieved 2010-11-17.</ref> HVS also funded Cornell University's Rushmore–Jennings Computer Library <ref>http://www.hotelschool.cornell.edu/about/pubs/news/newsdetails.html?id=287 (2005-02-01). Third paragraph. Retrieved 2010-11-17.</ref> and is a corporate partner in the university's Center for Hospitality Research.<ref>http://www.hotelschool.cornell.edu/about/pubs/news/newsdetails.html?id=287 (2005-02-01). First paragraph. Retrieved 2010-11-17.</ref>
⚫
HVS has launched other major industry conferences around the globe, organizing the Hotel Investment Conference South Asia (HICSA),<ref>http://www.hicsaconference.com/default.aspx Retrieved 2010-11-17.</ref> the South American Hotel and Tourism Investment Conference (SAHIC),<ref>http://www.sahic.com/english/ Retrieved 2010-11-17.</ref> the China Hotel Investment Conference (CHIC),<ref>http://www.chinahotelconference.com/host.html Retrieved 2010-11-17.</ref> and the Hotel Operations Summit India (HOSI).<ref>http://www.hosiconference.com/ Retrieved 2010-11-17.</ref>


⚫
Each year, HVS plays a significant role in New York University's International Hospitality Industry Investment Conference, where the company presents its annual report on Hotel Valuation and Transaction Trends for the U.S. Lodging Industry to conference attendees.<ref>http://hotellaw.jmbm.com/2009/06/hospitality_lawyer_what_lies_a.html Butler, Jim and the Global Hospitality Group (2009-06-14). Retrieved 2010-11-17.</ref> An HVS executive serves as the conference coordinator,<ref>http://www.scps.nyu.edu/export/sites/scps/areas-of-study/tisch/hospitality-conference/hospitality-conference-speaker-bios.pdf Page 3. Retrieved 2010-11-17.</ref> and others associated with the company serve as panel [[moderators]] and speakers.<ref>http://www.scps.nyu.edu/export/sites/scps/areas-of-study/tisch/hospitality-conference/hospitality-conference-speaker-bios.pdf Pages 11, 30, 37. Retrieved 2010-11-17.</ref> Additionally, in the months prior to the conference, the firm provides insight for the development of the Manhattan Hotel Market Overview Survey conducted by NYU graduate students. HVS distributes the results of the student survey and analysis to conference attendees as part of the firm's annual Manhattan Hotel Market Overview.
⚫
HVS also serves as an incubator for recent hotel school graduates, a place where they can build on their formal education and hone their skills while working alongside senior HVS executives and with established industry professionals. Although the learning curve is steep, those who thrive in this entrepreneurial environment have the opportunity to transfer to an HVS office in a different part of the globe. In a May 2010 cover story about HVS, ''Lodging Hospitality'' magazine opined, "The list of alumni reads like a who's who of the most highly regarded consultants, development executives and financial experts in the worldwide lodging industry."<ref>Watkins, Ed (2010-05-06). "HVS Marks 30th Anniversary". First paragraph. http://lhonline.com/consulting/HVS_consulting_appraisal_transactions_0506/index.html Retrieved 2010-11-18.</ref>

⚫
HVS has launched other major industry conferences around the globe, organizing the Hotel Investment Conference South Asia (HICSA),<ref>http://www.hicsaconference.com/default.aspx Retrieved 2010-11-17.</ref> the South American Hotel and Tourism Investment Conference (SAHIC),<ref>http://www.sahic.com/english/ Retrieved 2010-11-17.</ref> the China Hotel Investment Conference (CHIC),<ref>http://www.chinahotelconference.com/host.html Retrieved 2010-11-17.</ref> and the Hotel Operations Summit India (HOSI).<ref>http://www.hosiconference.com/ Retrieved 2010-11-17.</ref>


== Key publications ==
== Key publications ==
Line 54: Line 56:


== External links ==
== External links ==
*[http://www.hvs.com/ Official Web Site]
*[http://www.hvs.com/ Website of HVS Global Hospitality Services]


[[Category:Consulting firms]]
[[Category:Consulting firms]]

Revision as of 11:08, 3 October 2011

HVS Global Hospitality Services
Company typePrivate
IndustryHospitality
Founded1980
FoundersSteve Rushmore
HeadquartersMineola, New York
United States
Area served
Worldwide
Number of employees
388
Websitewww.hvs.com

HVS Global Hospitality Services is a consulting firm based in Mineola, New York that specializes in providing services to the hospitality industry. As of 2010, HVS operated out of 30 offices located in North America, Europe, Asia, South America, and the Caribbean. In addition to its original offerings of consulting and valuation services for the lodging industry, HVS today provides multiple hospitality services and specializations in areas such as executive recruitment, investment banking, golf facilities, hotel parking operations, convention centers, environmental sustainability, and risk management. Since 2000, the privately held firm has performed approximately 25,000 assignments throughout the world for hotel owners, operators, and lenders.

History

Originally known as Hospitality Valuation Services, the company was founded by Steve Rushmore in 1980 in a one-room office in Garden City, New York. Rushmore, a graduate of the Cornell University School of Hotel Administration [1], drew upon his experience as head of the hospitality consulting division of Helmsley-Spear, a position he took on in 1971. At that time, there were valuation companies specializing in appraising real estate (but not hotel operations) and accounting firms knowledgeable in hotel operations (but not real estate). Recognizing the need for an appraisal company that specialized in the hospitality arena, Rushmore pursued membership in the Appraisal Institute (then known as the American Institute of Real Estate Appraisers).[2] When he received the MAI[3] designation from the Institute in 1976, Rushmore enjoyed the distinction of being the Institute's only member with a degree in hotel administration.[4]

Combining his Appraisal Institute membership with his hotel school degree from Cornell, Rushmore then wrote an appraisal textbook for the hospitality industry, The Valuation of Hotels and Motels,[5] [2] which the Institute published in 1978. The text has been updated four times, and the most recent publication is Hotels & Motels: Valuations and Market Studies.[6]; this publication has been described as "the seminal text on the art and science of hotel appraisals".[7] This, and other publications by Rushmore, established the methodology for appraising hotels that is today considered an industry standard.[8]

Capitalizing on its singular status as the only consulting and valuation company dedicated solely to the hospitality industry, HVS expanded, opening a West Coast office in San Francisco five years later, followed by offices in London, Colorado, and Florida. Today, the company has a presence in nearly thirty cities on five continents.

Operations

The organizational structure and operations of HVS are modeled on that of other consulting firms, such as McKinsey & Company, particularly with regards to the company's recruitment of hospitality students from prestigious universities and its compensation structure. [9] Although the learning curve is steep, those who thrive in the company's entrepreneurial environment have the opportunity to transfer to other offices in a different part of the globe. In a May 2010 cover story about HVS, Lodging Hospitality magazine opined, "The list of alumni reads like a who's who of the most highly regarded consultants, development executives and financial experts in the worldwide lodging industry."[10]

To help market its hotel consulting and valuation services, HVS began disseminating a broad spectrum of complimentary information to the lodging industry. HVS encouraged its associates to publish articles on informative, timely, and interesting topics for the lodging industry, and the research and writings of HVS associates are published and cited in a number of academic journals [citation needed].

HVS conducts seminars on hotel valuation for the Appraisal Institute and other organizations around the world and has trained more than 20,000 appraisers and industry professionals. HVS research and data-gathering about historical and projected hotel value trends, sales transaction data, compensation programs, franchise fees, hotel franchise development costs, and hotel renovation costs provides data to industry participants.[11]

Research and conference sponsorship

Consistent with the academic background of the company's founder, HVS supports several institutions of higher learning that specialize in hospitality. To foster academic research in the field, HVS endows professorial chairs at both New York University's Tisch Center for Hospitality, Tourism, and Sports Management and Cornell University's hotel school [12] HVS also funded Cornell University's Rushmore–Jennings Computer Library [13] and is a corporate partner in the university's Center for Hospitality Research.[14]

Each year, HVS plays a significant role in New York University's International Hospitality Industry Investment Conference, where the company presents its annual report on Hotel Valuation and Transaction Trends for the U.S. Lodging Industry to conference attendees.[15] An HVS executive serves as the conference coordinator,[16] and others associated with the company serve as panel moderators and speakers.[17] Additionally, in the months prior to the conference, the firm provides insight for the development of the Manhattan Hotel Market Overview Survey conducted by NYU graduate students. HVS distributes the results of the student survey and analysis to conference attendees as part of the firm's annual Manhattan Hotel Market Overview.

HVS has launched other major industry conferences around the globe, organizing the Hotel Investment Conference South Asia (HICSA),[18] the South American Hotel and Tourism Investment Conference (SAHIC),[19] the China Hotel Investment Conference (CHIC),[20] and the Hotel Operations Summit India (HOSI).[21]

Key publications

  • Rushmore, Stephen, and Erich Baum (2001). Hotels and Motels – Valuations and Market Studies, Appraisal Institute. ISBN 0-922154-70-8.
  • Rushmore, Stephen (1992). Hotels and Motels: A Guide to Market Analysis, Investment Analysis, and Valuations, Appraisal Institute. ISBN 0-922154-06-6.
  • Rushmore, Stephen (1990). The Computerized Income Approach to Hotel/Motel Market Studies and Valuations, American Institute of Real Estate Appraisers. ISBN 0-922154-02-3.
  • Rushmore, Stephen (1990). Hotel Investments: A Guide for Owners and Lenders, Warren, Gorham and Lamont, Inc. ISBN 0-7913-0379-9.
  • Rushmore, Stephen (1986). How to Perform an Economic Feasibility Study of a Proposed Hotel/Motel, American Society of Real Estate Counselors.
  • Rushmore, Stephen (1983). Hotels, Motels and Restaurants: Valuations and Market Studies, American Institute of Real Estate Appraisers. ISBN 0-911780-70-X.
  • Rushmore, Stephen (1978). The Valuation of Hotels and Motels, American Institute of Real Estate Appraisers. ISBN 0-911780-44-0.

Recent articles and presentations authored by HVS principals and associates are accessible on the HVS website.

References

  1. ^ http://www.hotelschool.cornell.edu/about/pubs/news/newsdetails.html?id=609 (11-11-2009) Fourth Paragraph. Retrieved 2010-11-16.
  2. ^ a b http://www.appraisalinstitute.org/about/history.aspx First paragraph. Retrieved 2010-11-16.
  3. ^ Member of the Appraisal Institute; http://www.appraisalinstitute.org/findappraiser/show_Member_Profile.asp?p=RbAKPVd4JnqhrEZbNM3zuaTKNFlFbOj3tG4ORb(1976) Retrieved 2010-11-04.
  4. ^ "The House that Steve Built" (2002-10). Cover story, fourth paragraph. Lodging magazine.
  5. ^ Rushmore, Stephen (1978). ISBN 0-911780-44-0.
  6. ^ Rushmore, Stephen, and Erich Baum (2001). Appraisal Institute. ISBN 0-922154-70-8. http://www.appraisalinstitute.org/store/p-19-hotels-and-motels-valuations-and-market-studies.aspx Retrieved 2010-11-23.
  7. ^ Watkins, Ed (2010-05-06). "HVS Marks 30th Anniversary". Second paragraph. Lodging Hospitality. http://lhonline.com/consulting/HVS_consulting_appraisal_transactions_0506/index.html Retrieved 2010-10-28.
  8. ^ Watkins, Ed (2010-05-06). "HVS Marks 30th Anniversary". Third Paragraph. Lodging Hospitality. http://lhonline.com/consulting/HVS_consulting_appraisal_transactions_0506/index.html Retrieved 2010-10-28. Quotation from Bjorn Hanson, Divisional Dean and Clinical Professor of Hospitality and Tourism Management, NYU Tisch Center for Hospitality, Tourism, and Sports Management.
  9. ^ Watkins, Ed (2010-05-06). "HVS Marks 30th Anniversary". Seventh paragraph. Lodging Hospitality. http://lhonline.com/consulting/HVS_consulting_appraisal_transactions_0506/index.html Retrieved 2010-10-28.
  10. ^ Watkins, Ed (2010-05-06). "HVS Marks 30th Anniversary". First paragraph. http://lhonline.com/consulting/HVS_consulting_appraisal_transactions_0506/index.html Retrieved 2010-11-18.
  11. ^ Turkel, Stan (2010-06-19) http://www.bluemaumau.org/welldeserved_compliment_steve_rushmore Second paragraph. Retrieved 2010-11-17.
  12. ^ http://www.scps.nyu.edu/export/sites/scps/areas-of-study/tisch/hospitality-conference/special-message-from-jonathan-tisch.pdf Dr. Lalia Rach, HVS Professor. Sixth paragraph. Retrieved 2010-11-17.
  13. ^ http://www.hotelschool.cornell.edu/about/pubs/news/newsdetails.html?id=287 (2005-02-01). Third paragraph. Retrieved 2010-11-17.
  14. ^ http://www.hotelschool.cornell.edu/about/pubs/news/newsdetails.html?id=287 (2005-02-01). First paragraph. Retrieved 2010-11-17.
  15. ^ http://hotellaw.jmbm.com/2009/06/hospitality_lawyer_what_lies_a.html Butler, Jim and the Global Hospitality Group (2009-06-14). Retrieved 2010-11-17.
  16. ^ http://www.scps.nyu.edu/export/sites/scps/areas-of-study/tisch/hospitality-conference/hospitality-conference-speaker-bios.pdf Page 3. Retrieved 2010-11-17.
  17. ^ http://www.scps.nyu.edu/export/sites/scps/areas-of-study/tisch/hospitality-conference/hospitality-conference-speaker-bios.pdf Pages 11, 30, 37. Retrieved 2010-11-17.
  18. ^ http://www.hicsaconference.com/default.aspx Retrieved 2010-11-17.
  19. ^ http://www.sahic.com/english/ Retrieved 2010-11-17.
  20. ^ http://www.chinahotelconference.com/host.html Retrieved 2010-11-17.
  21. ^ http://www.hosiconference.com/ Retrieved 2010-11-17.

External links

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