Peng (Peter) Liu

Peng (Peter) Liu

  • Associate Professor
  • Singapore Tourism Board Distinguished Professor in Asian Hospitality Management
  • Editor, Journal of Real Estate Portfolio Management

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Interdisciplinary Theme

Faculty Expertise

  • Real Estate
  • Asset Management
  • Tourism


Cornell Peter and Stephanie Nolan School of Hotel Administration


Cornell Directory Entry


Peng Liu is the Singapore Tourism Board distinguished chair professor in Asian hospitality management at Cornell University’s School of Hotel Administration and associate professor of real estate and finance at SC Johnson College of Business, Cornell University. Dr. Liu is an active researcher, and an editor of the Journal of Real Estate Portfolio Management, the official journal of the American Real Estate Society.

Liu’s research focuses on the interaction between financial market and real economy, with a broad interest in real estate, hospitality management, securitization and REITs, commodity pricing, and market analysis in retail, airline, hotel, and recreational industries. Liu has published extensively in top-tier journals, including Review of Financial Studies, Management Science, Real Estate Economics, Journal of Real Estate Finance and Economics, Journal of Banking and Finance, Journal of Empirical Finance, among others.

Liu worked for Goldman Sachs Asset Management in New York City and held the position of senior consultant at Deloitte Consulting in Beijing. Prof. Liu is also a respectful securitization expert in China. He currently serves as the expert advisor to Shenzhen Security Exchange, China Insurance Asset Management Association and the Global Asset Allocation and Securitization Forum.

Liu has received the William N. Kinnard Scholar Award and 2018 Best Real Estate Portfolio Management paper award from the American Real Estate Society, the Homer Hoyt Post-Doctoral Honoree from the Weimer School of Advanced Studies, 2019 Rising Star in Real Estate Award from Shanghai Real Estate Finance Forum, and numerous research awards. He was named teacher of the year at the U.C. Berkeley’s master program in financial engineering. Prof Liu also taught the executive programs (EMBA) at top university in China including Tsinghua, Zhejiang, Shanghai Jiaotong, and Hong Kong Chinese University.

Liu earned a PhD co-majoring in Finance and Real Estate from Haas School of Business, U. C. Berkley and MA in Financial Economics from Peking University and a BS in Engineering from Tsinghua University, China.

Selected Publications

Awards and Honors

  • Outstanding Achievement, 2019 Asia Travel and Hotel Awards (2019) Asia Hotel Forum and Hotel Asset Manager Association China Chapter
  • Best Paper Award (2018) American Real Estate Society Annual Meeting Best Paper Competition
  • The William N. Kinnard Scholar Award (2014) American Real Estate Society
  • Homer Hoyt Post-Doctoral Award (2014) Weimer School of Advanced Studies in Real Estate and Land Economics
  • 2013 Industry Relevance Research Award (2013) Cornell University - School of Hotel Administration

Recent Courses

  • HADM 3210 - Principles of Hospitality Real Estate
  • HADM 6200 - Principles of Real Estate

Academic Degrees

  • PhD Haas School of Business, University of California, Berkeley, 2007
  • MS Haas School of Business, University of California, Berkeley, 2007
  • MS Agricultural and Resource Economics, University of California, Berkeley, 2002
  • MA School of Economics, Peking University, 2000
  • BS Materials Science and Engineering, Tsinghua University, 1994