Cornell Brand Roundtable Provides Key Insights for Successfully Measuring and Managing Brands

Jun 08, 2011

Contact:  Jane Henion, 607.255.9780, jmh222@cornell.edu

FOR IMMEDIATE RELEASE:
Cornell Brand Roundtable Provides Key Insights for Successfully Measuring and Managing Brands

Topics included pillars of brand growth, branding and the internet, managing a portfolio of brands, branding by design, brand rights, and the value of a brand

Ithaca, NY, June 8, 2011 – With a goal of provoking discussion to challenge the status quo and enhance the state of brand management in the hospitality industry, Professor Chekitan Dev of Cornell University's School of Hotel Administration, invited a dozen "provocateurs" to lead eight different sessions at the first brand management roundtable produced by the Cornell Center for Hospitality Research (CHR), sponsored by Hilton Worldwide.

"Managing brands successfully has become the key priority for hospitality business leaders, " said Professor Dev, "and we wanted to present the science and art that supports excellent brand management, which includes every aspect of the brand. Although we focused primarily on service brands, we also drew essential principles and lessons from globally successful product brands."

The "provocateurs" were: Ed Lebar, founder, and Seth Traum, senior vice president, director of brand strategy, Brand Asset Consulting; Benoit Garbe, vice president, Millward Brown Optimor; Rebecca Hamilton, associate professor of marketing, Robert H. Smith School of Business, University of Maryland, and Matt Valenti, director, global market research, Starwood Hotels and Resorts; Paul Brown, president, global brands and commercial services, Hilton Worldwide; Lulu Raghavan, country director, Landor Associates, and Ajoy Misra, senior vice president for sales and marketing, Taj Hotels, Resorts, and Palaces; Jim Renard, partner, Bickel & Brewer; Howard Wolff, senior vice president and worldwide director of marketing, WATG; and Mark Woodworth, president, Colliers PKF Hospitality Research, and Professor Dev.

"From the provocateurs and participants, we learned at least three things," said Professor Dev.  "We discovered that brand value currently accounts for a significant portion of market capitalization, and maximizing the value of this "asset" must be a key priority for the leadership of every organization.  We learned that brands must be relevant, authentic, and differentiated to earn a premium, and we discussed how to include brand management in all parts of our value chain, part of everybody's job, embedded in everything we do, from the $1 bottle of water in the room to the $1 billion brand makeover."
Detailed roundtable proceedings are now available from the Cornell Center for Hospitality Research, which produces the roundtable series. As with all CHR reports, the roundtable proceedings are available at no charge, at http://www.hotelschool.cornell.edu/research/chr/pubs/roundtable
proceedings/2011.html.

About The Center for Hospitality Research
A unit of the Cornell School of Hotel Administration, The Center for Hospitality Research (CHR) sponsors research designed to improve practices in the hospitality industry. Under the lead of the center's 82 corporate affiliates, experienced scholars work closely with business executives to discover new insights into strategic, managerial and operating practices. The center also publishes the award-winning hospitality journal, the Cornell Hospitality Quarterly. To learn more about the center and its projects, visit www.chr.cornell.edu.

Center Senior Partners: ASAE Foundation, Hilton Worldwide, McDonald's USA, Philips Hospitality, SAS, STR, Taj Hotels Resorts and Palaces, and TIG Global

Center Partners: Davis & Gilbert LLP, Deloitte & Touche USA LLP, Denihan Hospitality Group, eCornell & Executive Education, Expedia, Inc., Forbes Travel Guide, Four Seasons Hotels and Resorts, Fox Rothschild LLP, French Quarter Holdings, Inc., HVS, Hyatt, InterContinental Hotels Group, Jumeirah Group, LRP Publications, Maritz, Marriott International, Inc., Marsh's Hospitality Practice, priceline.com, PricewaterhouseCoopers, Proskauer, Sabre Hospitality Solutions, Schneider Electric, Thayer Lodging Group, Thompson Hotels, Travelport, and WATG

Center Friends: 4Hoteliers.com • American Tescor, LLC • Argyle Executive Forum • Berkshire Healthcare • Center for Advanced Retail Technology • Cody Kramer Imports • Cruise Industry News • DK Shifflet & Associates • ehotelier.com • EyeforTravel • Gerencia de Hoteles & Restaurantes • Global Hospitality Resources • Hospitality Financial and Technology Professionals (HFTP) • hospitalityInside.com • hospitalitynet.org • Hospitality Technology Magazine • Hotel Asia Pacific • Hotel China • HotelExecutive.com • Hotel Interactive • Hotel Resource • International CHRIE • International Hotel Conference • International Society of Hospitality Consultants (ISHC) • iPerceptions • JDA Software Group, Inc. • J.D. Power and Associates • Lodging Hospitality • Lodging Magazine • LRA Worldwide, Inc. • Milestone Internet Marketing • MindFolio • Mindshare Technologies • PhoCusWright • PKF Hospitality Research • The Resort Trades • Resort and Recreation Magazine • RestaurantEdge.com • Shibata Publishing Co. • Synovate • The Lodging Conference • The Wall Street Journal • The TravelCom Network • Travel + Hospitality Group • UniFocus • USA Today • WageWatch, Inc. • WIWIH.COM • Wyndham Green