As a Professor of Innovation & Dynamic Management at the Cornell University School of Hotel Administration, can you tell us why innovation management is so key for the hospitality industry? Innovation is about growth. In a mature industry like hotels, realizing above average rates of return and meeting performance expectations demand innovation. But hotels can’t innovate by doing the things that they have been doing all along. Commercializing new ideas means rethinking, reinventing and modifying the status quo—it’s not about what worked yesterday.

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