Industry Update
Press Release12 December 2014

$10 Million Gift Endows School of Hotel Administration Deanship

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Bradley H. Stone, president and partner in Gaming Asset Management, LLC, has committed a $10 million gift to endow and name the deanship of the Cornell University School of Hotel Administration (SHA). "Brad Stone is the ideal person for whom the deanship could be named. I could not be prouder than to associate my position with Brad's name, as will all future deans. Brad is a committed alumnus with an inspiring career in the hospitality industry, and his name will honor the School of Hotel Administration and the position of dean," said Michael D. Johnson, dean and E.M. Statler Professor.


Commenting on the gift, President David Skorton said, "From my perspective, endowments to name our senior leadership posts are among the most important gifts any university can receive. These investments allow us to attract the very best leaders to guide the future of our institution, and they provide critical funds for deans to address foremost priorities. In the School of Hotel Administration, we have a school of global reach and impact, one of the most sophisticated service-oriented business programs in the world. Knowing we have the resources to recruit individuals who are singularly qualified to shape the school's teaching and research enterprise will be of enormous benefit to me, to my successor Elizabeth Garrett, and to future presidents of Cornell."

A 1977 graduate of SHA, Stone is in partnership with the former Las Vegas Sands management team of Bill Weidner, Brad Stone, and Garry Saunders. The company has been conducting joint ventures with Cantor Fitzgerald in the global gaming, hospitality, and resort sectors. Stone is the former president of global operations and development of Las Vegas Sands Corporation, where he oversaw the design, construction, and operation of some of the world's most recognized casino resort properties, including the company's flagship hotels, the 4,027-suite The Venetian Las Vegas, and the 3,000-room Palazzo Resort and Casino. Playing a key role in the Las Vegas Sands expansion to global markets, Stone directed the development of the Sands Macao, the corporation's first international property, and the first U.S.-operated facility in the People's Republic of China. Perhaps his biggest professional milestone came with the opening of the $2.4 billion Venetian Macao. The staggering 10.5 million-square-foot facility has been dubbed the largest hotel in the world. Stone oversaw the ongoing development of Sands Casino Resort Bethlehem in Eastern Pennsylvania and the iconic Marina Bay Sands in Singapore. He played a key role in the company's financing and future international and domestic developments. Stone is currently overseeing the management of the Baha Mar Casino & Hotel, the flagship of the largest destination resort complex in the Bahamas, scheduled to open in the spring of 2015.

Stone has maintained a strong connection to SHA through generous support of students, staff, and faculty, including establishment of the Stone Family Faculty Renewal Fellowship and the Bradley Stone '77 Scholarship. Additionally, Stone has served as a two-term member of the Dean's Advisory Board, and on the Cornell University Council since 2013. Stone returned to campus in 2003 as a Dean's Distinguished Lecture Series (DDLS) speaker, and in April 2009 as a keynote speaker at the student-run conference, Hotel Ezra Cornell. Stone is scheduled to return to campus in the fall of 2015 as the DDLS speaker during the Trustee-Council Annual Meeting.

About the School of Hotel Administration at the Cornell SC Johnson College of Business

The Scho ol of Hotel Administration at the Cornell SC Johnson College of Business is shaping the global knowledge base for hospitality management through leadership in education, research, and industry advancement. Accredited by the Association to Advance Collegiate Schools of Business (AACSB), the school provides management instruction in the full range of hospitality disciplines, educating the next generation of leaders in the world's largest industry. Founded in 1922 as the nation's first collegiate course of study in hospitality management, the Cornell School of Hotel Administration is recognized as the world leader in its field.
Meg Keilbach
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