on 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?
on Canadian retailer Hudson’s Bay Co., of which Baker Program in Real Estate benefactor Richard Baker (SHA ’88) is Governor and Executive Chairman, is in preliminary discussions regarding a potential takeover of leading U.S. department store chain Macy’s Inc. (NYSE: M), The Wall Street Journal reported on Friday, citing “people familiar with the matter.” Many commentators and analysts… Continue Reading Richard Baker (SHA ’88) In Talks to Acquire Macy’s
on The Cornell Baker Program in Real Estate had the pleasure of welcoming Ben Bernstein, Co-Founder and Principal of RedSky Capital and RedSky Management, to campus as our first Distinguished Speaker of 2017. Ben graciously shared some of the lessons that he’s learned since launching RedSky with fellow Cornell alum Benjamin Stokes (CALS ’06) after graduating… Continue Reading Ben Bernstein, Co-Founder and Principal of RedSky: “The Ace Assembler”
on The Cornell Baker Program in Real Estate is delighted to welcome Ben Bernstein, Co-Founder and Principal of RedSky Capital and RedSky Management, back to campus as our first Distinguished Speaker of 2017. After graduating from Cornell’s College of Arts & Sciences with a Bachelor of Arts in Government and Political Theory in 2006, Ben went… Continue Reading Distinguished Speaker Series: Benjamin Bernstein, Co-founder and Principal of RedSky Capital
on One of the most followed real estate sagas of 2016 was the case of New York REIT (NYRT), in which shareholders actively and publicly faced off against NYRT management in their opposition to an agreed-upon merger with Washington, D.C.-based JBG Companies (JBG). The NYRT-JBG story highlights several modern day issues for REITs. First, it illustrates… Continue Reading New York REIT and JBG Cos. – A Case Study of REIT Misalignment