The Institute for Hospitality Entrepreneurship at Cornell’s School of Hotel Administration will welcome Randy Smith, Chief Executive Officer and co-Founder, Smith Travel Research, as the featured speaker in its “Conversations with Entrepreneurs” series on Monday, November 6. Smith will present from noon to 1:00 p.m. in Room 565, Statler Hall.
“Randy Smith is an incredibly innovative entrepreneur who has profoundly shaped how we use data to understand performance in the lodging industry,” stated Cathy Enz
, associate dean for industry research and affairs at the School. “We look forward to hearing him share his entrepreneurial vision and the lessons he has learned while turning his idea into a thriving business.”
As chief executive officer, Smith has built his company into one of the leading authorities on current trends in occupancy, room rate, and supply/demand data for the U.S. and North American lodging industries. Each month, Smith Travel Research (STR) obtains revenue data from over 26,000 U.S. properties accounting for over 3.2 million rooms. In addition, STR collects daily lodging performance data from over 20,000 U.S. hotels with over 2.5 million rooms as part of its DaySTAR program. Through its worldwide marketing alliance with Deloitte in the UK, STR provides a global perspective for all lodging trends. STR is also a partner with Cornell’s Center for Hospitality Research.
STR also publishes Lodging Review, a weekly newsletter that tracks occupancy and room rates for the U.S., and the top 25 metropolitan markets. Data from Lodging Review is frequently published in Hotel & Motel Management, HOTELS, Lodging Hospitality, Lodging Magazine, The Cornell Quarterly, The Wall Street Journal and The New York Times. Smith Travel Research data is used as the official source of lodging information by over three hundred convention and visitors bureaus, state tourism departments and government entities. It is also used extensively by investment bankers and lodging equity analysts and consultants across the U.S.
A winner of several industry awards, Smith resides in Nashville with his wife and son.
About the Institute for Hospitality Entrepreneurship
A unit of the Cornell University School of Hotel Administration, the Institute for Hospitality Entrepreneurship (IHE) supports and enables innovation and new business formation in the hospitality industry. The Institute provides students with guidance on entrepreneurship study, introduces students to hospitality entrepreneurs, and encourages students to pursue entrepreneurial endeavors. The Institute is also a platform for knowledge about forming new hospitality businesses, managing small and family-run businesses, franchising, corporate venturing, new venture funding, and innovation. To learn more about the IHE, please visit: www.ihe.cornell.edu
, or contact Joe Strodel, Jr. in the office of the Associate Dean for Industry Research and Affairs at 607.255.4646.