The Case for Monte Carlo Simulation in Commercial Real Estate Modeling

Introduction Robust underwriting is a key element of any commercial real estate (CRE) investor’s success.  Currently, institutional and retail CRE investors typically employ some form of static discounted cash flow (DCF) modelling to value properties and identify attractive investments.  Unfortunately, static DCF modelling suffers from several flaws that stem from its inability to take uncertainty… Continue Reading The Case for Monte Carlo Simulation in Commercial Real Estate Modeling

Xenia’s Response to the Pandemic—Insights from Barry Bloom (SHA ‘86 & MBA ’01).

On Thursday, October 8th, 2020, the Cornell Baker Program in Real Estate hosted Barry Bloom (SHA ‘86 and MBA ‘01), President & CEO of Xenia Hotels & Resorts (NYSE: XHR), a hospitality REIT focused on the United States’ top 25 markets and key leisure destinations.  Xenia’s hotel assets are primarily in the luxury and upper-upscale… Continue Reading Xenia’s Response to the Pandemic—Insights from Barry Bloom (SHA ‘86 & MBA ’01).

A Shock Unlike Any Other – Vijay Dandapani (SHA ’87) on the State of NYC’s Hotel Market

The hotel industry in New York City has seen its fair share of macroeconomic shocks over the past few decades.  From the 1975 fiscal crisis, to the stock market crash of 1987, the terrorist attacks of September 11th, and of course the great recession in 2008 – the hotel industry in the financial capital of… Continue Reading A Shock Unlike Any Other – Vijay Dandapani (SHA ’87) on the State of NYC’s Hotel Market

Look Out for the Smart Hotel: The Hospitality Industry is On the Verge of Embracing the Internet of Things

From smart buildings to smart cities, the Internet of Things (IoT) is rapidly shaping the way human beings interact with the built environment and various real estate asset classes. Implementing technology into the built environment now allows us to tailor the inhabitant experience and collect and analyze user data to make better decisions for efficiencies… Continue Reading Look Out for the Smart Hotel: The Hospitality Industry is On the Verge of Embracing the Internet of Things

Even Hospitality is Going Modular

Modular buildings are not a new phenomenon – interest in prefabrication dates as far back as 1935 when Sears Roebuck and Co. announced that it would build and ship fully assembled homes, a touch more sophisticated than its “Modern Homes” catalog version (Emmet, 1965). Prefabricated building manufacturing is stimulated by real estate cycles when labor… Continue Reading Even Hospitality is Going Modular

Frenemies: Is Vertical Integration the Answer to OTAs?

The relationship between hospitality companies and online travel agencies (OTAs) has widely fluctuated over the past two decades. The industry’s responses to the threat of OTAs have thus far had limited impact. This article explores a more drastic solution: vertical integration. When OTAs emerged in the late 90’s, many hospitality companies held a positive outlook… Continue Reading Frenemies: Is Vertical Integration the Answer to OTAs?

Is PUBLIC Hotel the Answer to Airbnb?

At a lodging conference in December 2016, Laura Paugh, Marriott International’s SVP of Investor Relations, remarked that Airbnb hasn’t “[made] headway in the corporate environment, which is really [Marriott’s] bread-and-butter business.”[i] This statement is reflective of the hospitality industry’s general stance on Airbnb: the platform hasn’t yet made a material impact because Airbnb does not… Continue Reading Is PUBLIC Hotel the Answer to Airbnb?

Cornell Real Estate Review

Author: Cornell Baker Program in Real Estate (Downloadable PDF) The PDF which can be downloaded to read at your leisure represents the efforts and sacrifices of the entire Real Estate Review editorial staff. However, none of this could be accomplished without the guidance of Dr. Michael Tomlan, Baker Program Director, Dustin C. Jones Esq., and… Continue Reading Cornell Real Estate Review

Summer 2017: Internships for Baker Program 2018 Candidates

With the Spring 2017 Semester coming to a close, the 2018 candidates for the Baker Program in Real Estate have begun to see the fruits of their efforts in securing highly touted summer internships. These internships will solidify,  and grow the knowledge base of the candidates gained during their first 2 semesters in Ithaca. Currently,… Continue Reading Summer 2017: Internships for Baker Program 2018 Candidates

Distinguished Speaker Series: Andrew Benioff, Founder and Managing Partner of Llenrock Group, LLC

Cornell’s Baker Program in Real Estate is pleased to spotlight Andrew Benioff as the next featured guest in its Distinguished Speaker Series on April 13, 2017.  Andrew is the Founder and Managing Partner of Llenrock Group, LLC, a real estate investment banking and advisory firm, and a principal at Linden Lane Advisors, LLC, a value-added… Continue Reading Distinguished Speaker Series: Andrew Benioff, Founder and Managing Partner of Llenrock Group, LLC