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Center For Real Estate and Finance News
March 20, 2014
Advisory Board  |  Research   |  Corporate Relations  |  Education  |  Faculty
From the Director

After enduring a particularly difficult period of cold Ithaca weather, I’m happy to report that the majority of our upcoming planned events are just heating up. Despite the weather, we’ve had a particularly fruitful couple of months. I’m happy to report that the team of three students that we sent to the IHIF conference in Berlin won this year’s hotel investment case competition, as you see in this newsletter...see more.

Research

Cornell Hotel Indices Series Opens Window into Hotel Asset Values
For over two years, the Cornell Real Estate Market Indices series has documented the shifting tides of hotel asset values and sales in the United States. Now in its ninth edition, the indices series provides a much-needed quarterly window on price changes and asset values for U.S. hotels, both large and small. The latest report, covering the fourth quarter of 2013, documents continued price appreciation for large hotels, while the price index for small hotels diverged and demonstrated a downward trend...see more.

Education

Record Number of Cornell Graduate Students to Receive Real Estate Minor Designation at May Graduation
A re-launch of the Graduate Minor in Real Estate at Cornell during fall semester 2013 will result in as many as 26 students wearing the blue stole indicating they fulfilled the requirements for this Minor. In recent years less than one-half dozen students achieved the same designation...see more.

Undergraduate Real Estate Minor
The undergraduate real estate minor is built on three themes; a strong real estate curriculum, a unique set of real estate industry connections, and the support to launch a real estate career; the minor has over 360 students enrolled and expects about 150 of these students to graduate in June of 2014...see more.

Faculty

Faculty Profile
Professor Pamela C. Moulton joined Cornell’s School of Hotel Administration as an assistant professor of finance in 2010. Her teaching and research interests include financial markets and market microstructure, with a special interest in the role of investors. Professor Moulton’s current research focuses on institutional trade holding periods, the impact of institutional investment on stock performance, and who trades on sell-side analyst recommendations...see more.

Faculty Mystery Box Throw Down

Twenty faculty members went head to head in the first SHA Faculty Mystery Box Throwdown. In the first ever competition four teams went in. The students judged and one team emerged victorious. Several of our CREF faculty members competed including: Linda Canina, Mathew Clayton, Jan deRoos, and Pamela Moulton. The winning team -Team Fries with That, composed of: Chef Brad Wellstead, properties development and management, and team members, Jan deRoos, Helen Chun, Susan Fleming and Michael Sturman.

Presentations
Peng Liu, associate professor in real estate, will present at the 30th American Real Estate Society Annual meeting in San Diego, CA in April 2014. The title of Dr. Liu’s presentation is “Retail Shopping Center Lease Contracting with Tenant Contingency and Financial Constraints”. Peter will also serve as a session chair and a facilitator to the special Chinese program at the American Real Estate Society meeting this year.

Professor Liu has been invited by the Weimer School of Advanced Studies in Real Estate and Land Economics to present his new research on mortgage backed security on May 18, 2014. 
Upcoming Events

Register Now!
The Center for Real Estate and Finance at the Cornell School of Hotel Administration will present “Commercial Mortgage-Backed Securities (CMBS): A Retrospective” at The Pierre in New York City, April 24, 2014 8:00-11:30 a.m. The event, which is open to the public, will feature industry icons who pioneered the CMBS industry. This uniquely qualified panel will provide their broad perspectives on CMBS - its current challenges and future opportunities. Register here to attend. Regular registration is $100; registration for Cornell alumni is $75....see more.

WX New York Women Executives in Real Estate Panel discussion
Executives from WX will meet with female students interested in careers in Real Estate and Finance. Panelists will share their insights into what it is like to work in New York City in a male dominated field. Panelists include: Cheryl Boyer, Chief Operating Officer, Fulcrum Hospitality; Ellen Brown, Executive Vice President Acquisitions & Development, Denihan Hospitality; Jin Lee, Principal, Royalton Capital; Susan Swanezy, Partner, HodesWeill & Associates; and Paula Schaefer, Senior Vice President, Clarion Partners LLC.

First Cornell Retail Real Estate Roundtable
Associate Professor Peter Liu from the school of hotel administration will chair the first Cornell Retail Real Estate Roundtable to be held on June 3rd, 2014 in New York City. Current confirmed participants include...see more.

Real Estate Career Day 2014
Real Estate Career Day 2014 will be held on Tuesday, September 30, 2014, in the Statler Hotel Carrier Grand Ballroom. This event is held in conjunction with the Center for Real Estate and Finance (CREF), which is the academic home of the Undergraduate Minor in Real Estate and the Real Estate Concentration for the Master of Management in Hospitality (MMH)...see more.

Past Events

Cornell SHA students win IHIF Student Challenge

A team of three students from the Cornell School of Hotel Administration won first place in the International Hotel Investment Forum (IHIF) Student Challenge – Developing the Future, held Tuesday, March 4 in Berlin, Germany...see more.

HVS Seminar
HVS and the Center for Real Estate and Finance held a two-day seminar last fall. There were over 55 students who attended. We hope to have another two- day session this coming fall 2014. These sessions will provide the tools, software, and knowledge needed to value hotels and properly analyze lodging market dynamics...see more.



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About the Center

Established in 2009, the Center for Real Estate and Finance provides a platform for educating students, creating new knowledge through research activities, and exchanging information about real estate with a broad set of audiences. CREF is at the forefront of research in all areas of commercial real estate, from the study of the behavior of real estate assets in investment portfolios to an understanding of real estate capital markets to the science of hedging real estate risk. To learn more about CREF, visit www.cref.cornell.edu.




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