The annual Cornell International Real Estate Case Competition, set for November 4, 2014, in New York City, will feature a record field—with student teams from seventeen universities on four continents competing for a share of over $22,000 in prize money. Now in its sixth year, the case competition gives teams of six students just five days to prepare an analysis of an actual real estate transaction, which is not revealed until the time of the competition.

Developed by the Cornell Center for Real Estate and Finance at the School of Hotel Administration the competition is made possible by an all-star lineup of corporate sponsors, led by Title Sponsor TIAA-CREF, which has supported the competition since its inception. Once again, this year, the competition will be held at Convene Financial District @ 32 Old Slip, in New York City.

"We are pleased to continue our sponsorship of this important and unique competition," said Tom Garbutt, Senior Managing Director, Head of Global Real Estate, TIAA-CREF and Chairman of TIAA Henderson Real Estate. "These students – from the top real estate programs globally – are our future leaders, colleagues and peers. This event gives them a platform to test and demonstrate their knowledge in a real-world setting."

"This is far more than a competition, although it is exciting for the student teams," said Professor Daniel Quan, director of the Center for Real Estate and Finance. Explaining why he developed the case competition, Quan added: "Our real purpose is to open an educational door for the students, so that they can work on an actual real estate case. In doing this, they are supported by an all-star group of judges, who are focused on helping the students learn more effectively."

Quan pointed out that the inaugural competition began with just six teams, and he is pleased to see how it has grown. This year's competing teams are: Brown University, Chinese University of Hong Kong, Cornell University, Indiana University, McGill University, New York University, Renmin University, University of Aberdeen, University of British Columbia (Sauder School of Business), University of Cambridge, University of Connecticut, University of Guelph, University of Michigan, University of Sydney, University of Texas, University of Wisconsin, Villanova University. At the University of Sydney alone, more than 100 students applied to become one of the six members of that school's team.

During the five days of the competition, the student teams prepare their analysis of the case and make their recommendations regarding the transaction. After a preliminary presentation round, five remaining finalist teams will present their case solution to the full panel of judges. These real estate experts will determine a winner based on the best overall analysis and presentation. The teams are judged not only on their investment recommendations, their approach to the problem, and their presentation skills, but also on their ability to answer and respond to questions posed by the judges.

In addition to Title Sponsor, TIAA-CREF, sponsors include YOTEL (the official hotel sponsor), Ackman-Ziff, Cantor Commercial Real Estate, Clarion Partners, Criterion Real Estate Capital, Grove International Partners, Macklowe Properties, Moody's Investors Service, National Realty & Development Corporation, Paramount Lodging Advisors, Prudential Real Estate Investors, Sawyer Realty Holdings, Silverstein Properties, Inc., The Carlyle Group, Tishman Realty Corporation, Westbrook Partners. Other financial supporters include the Marjorie Boas Levins and Jack Levins /F.H.T. Rhodes Real Estate Case Competition Fund.

About the Center for Hospitality Research

The purpose of the Center for Hospitality Research is to enable and conduct research of significance to the global hospitality and related service industries. CHR also works to improve the connections between academe and industry, continuing the School of Hotel Administration's long-standing tradition of service to the hospitality industry. Founded in 1992, CHR remains the industry's foremost creator and distributor of timely research, all of which is posted at no charge for all to use. In addition to its industry advisory board, CHR convenes several industry roundtables each year for the purpose of identifying new issues affecting the hospitality industry.

Center Members: Accenture • Access Point Financial, Inc. • Barclaycard US • Cvent • Davis & Gilbert LLP • Deloitte & Touche USA LLP • DerbySoft • Four Seasons Hotels and Resorts • Fox Rothschild LLP • Hilton Worldwide • Host Hotels & Resorts • Hyatt Hotels Corporation • IDeaS Revenue Solutions • InterContinental Hotels Group • Jumeirah Group • Marriott International • NTT DATA • Preferred Hotels & Resorts • priceline.com • PwC • The Rainmaker Group • RateGain • ReviewPro • Revinate • Sabre Hospitality Solutions • STR • Taj Hotels Resorts and Palaces • Tata Consultancy Services • Wipro EcoEnergy • Wyndham Hotel Group

Alicia Michael
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