Cornell Experts Say Hospitality Expertise Is Needed for Senior Living Communities
Managers and employees must build relationships with residents
Cobb, Madsen, and Rijos point out that key differences between hotels and senior living communities include sales procedures and real estate ownership. Unlike hotels, it often takes eighteen months or more for a person or couple to decide to move into a senior living property. The decision is made only after a tour of the community, often with other family members. This means that all of the property's features must be on display. Also unlike hotels, senior living companies usually own and operate their facilities—and so they do not involve flipping or trophy real estate.
Looking forward, roundtable participants expect U.S. demographics to work in their favor. The message from panelists to the 190 students in attendance is that the senior living industry offers great opportunity. Rijos foresees more properties in urban settings, which will allow residents to take advantage of cities' cultural features. Even so, proximity to family is the overriding criterion for choice of a residence.
The Center for Hospitality Research roundtable series is open by invitation only, although CHR partners always have a seat at each roundtable. Other recent roundtables have investigated sustainability in the hospitality industry, social media and marketing, and finance and real estate.
About CHR Roundtables: CHR roundtables are a meeting place for invited senior-level hospitality industry executives and Cornell faculty members. Each roundtable lasts one day and is divided into four or five sessions. Sessions begin with a short research presentation (by a Cornell faculty member, faculty from another institution, or an industry leader) that lasts five to ten minutes. Immediately following, one or two industry discussants either support or contest the researcher's hypothesis or conclusion. The conversation is then opened up to the entire roundtable for discussion. For more information on roundtables, please visit: .
Phone: (607) 255-3101
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