We in the CREF are pleased and proud to have Peng (Peter) Liu join the ranks of the tenured faculty at Cornell. Peter earned his Ph.D. at Berkeley six years ago and has become an accomplished scholar during his six years here at the School of Hotel Administration and at Cornell. He has been particularly active in publishing his research both through Cornell channels and mainline academic journals. His most recent report, published by the Center for Hospitality Research, addressed an important and growing travel segment. This paper, “Preferences and Attitudes of Chinese Outbound Travelers,” was co-authored by Qingqing Lin, Lingqiang Zhou, and Raj Chandnani ’95. Other studies by Professor Liu have examined hotel room rate pricing and lodging industry acquisitions.