• A
  • A
  • A
  • ABC
  • ABC
  • ABC
  • А
  • А
  • А
  • А
  • А
Regular version of the site

About the Usefulness of Hospitality

On October 3rd Rohit Verma, Executive Director for the Cornell University Center for Hospitality Research (USA), gave a master class for students and lecturers of the HSE and other Moscow universities, as well as representatives of the hospitality business. He also had a meeting with the administration of the HSE Faculty of Management.

Rohit Verma is considered one of the most renowned researcher experts in organizational management in the hospitality industry. The Center for Hospitality Research (CHR) where Verma work as director is a leading global research institution with partners including global hotel networks (Hilton, Marriott, Hyatt and others), restaurant networks, online tourist companies, consulting agencies and software developers for the industry. They provide researchers with access to empirical data and order some analytical papers. Both the reports which are published at the CHR website and the records of interviews and discussions with businessmen are freely available.

The first part of Rohit Verma’s presentation was a review of key research trends in the global hospitality industry. The range of research areas covered at Cornell University is rather broad. In fact, what they do is transfer the solution of applied tasks faced by the hospitality organizations into the research dimension. This bond between academic institutions and business provides, on one hand, systemic development of the hospitality industry, and on the other – a high standard of education in this sphere.

In his lecture Prof. Verma also spoke about how modern mobile technologies have altered the character of services in the hospitality industry. In particular, communication between key market participants, such as hotels, and the consumers of hotel services is changing radically. The use of ICT in the hospitality business is the focus of one of the CHR’s key studies – ‘How Travelers Use Online and Social Media Channels to Make Hotel-choice Decisions’. In the second part of his speech, Prof. Verma spoke about the high demand from the business community for the results of such a study, as well as about its aims, design and methods.

One of CHR’s partners in this study is the HSE Faculty of Management. During Rohit Verma’s meeting with the faculty’s working group the practical results of the first stage of the study were discussed and the main directions for implementing the final stage of the project were defined. In addition to this, some other forms of academic cooperation between the HSE Faculty of Management and the CHR were discussed in greater detail.

Another important result of the visit was a discussion carried out by Prof. Verma and the developers of the planned HSE master’s programme ‘Economics of Impressions: Management in Hospitality Industry and Tourism’. They talked about its concept, curriculum and an idea for a research seminar. Finally, Rohit Verma also looked at the programme supported by Cornell University and outlined its strengths and areas for further development.

Oleg Seregin, HSE News Service

See also:

Consumer Prices Decrease in Densely Populated Areas

HSE University economists have proposed a novel approach to modelling monopolistic competition with heterogeneous firms and consumers. The results of collaborative research carried out by Alexander Tarasov from Moscow, his co-authors from HSE University–St Petersburg, together with the Norwegian School of Economics, the University of Pennsylvania, and the Free University of Brussels, have been published in American Economic Journal: Microeconomics.

Football Players Cover Greater Distances During Critical Derby Matches at Home Arena

Researchers at the HSE Faculty of Economic Sciences examined the level of effort that professional football players are willing to exert during a match in absence of financial incentives. It appears that the primary factors driving players to strive harder for victory are the strength of the opponent and the significance of the match for the club. This is particularly noticeable in derby matches between teams from the same city, such as the Moscow derby between CSKA and Spartak on April 25, 2024. The study has been published in the Journal of the New Economic Association

Participation in Crowdfunding Can Generate up to 73% in Returns Annually

Backers of projects on crowdfunding platforms can expect rewards from their pledges. For example, funding someone's idea on Kickstarter can result in an average annual return of 11.5%, with design projects known to deliver returns as high as 70%. However, it is important to note that these returns do not come in the form of direct cash payments but rather as savings on the purchase of the product once it hits the market. This has been demonstrated in a study by researchers at the HSE Faculty of Economics published in Economic Analysis Letters.

Economists Suggest Using Media's Attention to Bitcoin to Predict its Returns

Researchers at the HSE Faculty of Economic Sciences have studied the relationship between the changes in the bitcoin prices and the media attention to this cryptocurrency. The researchers examined the mentions of bitcoin in the media between 2017 and 2021 and built a mathematical model that revealed the strong relationship between media attention and bitcoin prices. The study was published in the Applied Stochastic Models in Business and Industry journal.

HSE Economists Develop a Model for Sustainable Solar Geoengineering Agreements

Researchers at HSE University and George Mason University have investigated the sustainability of prospective international agreements on solar geoengineering. The authors have proposed a scheme in which payments flow from affluent nations to less wealthy ones; an arrangement which sets their proposal apart from traditional systems. The proposed model aims to dissuade more vulnerable countries from excessive use of the prevalent geoengineering method by providing compensation for the potential damage they may incur and supporting their adaptation to climate change. The paper has been published in Environmental and Resource Economics.

Crypto Investors Receive Downside Risk Premiums

Victoria Dobrynskaya, Assistant Professor at the HSE Faculty of Economic Sciences, has analysed the price dynamics of 2,000 cryptocurrencies from 2014 to 2021 and investigated the association between downside risks and average returns in the cryptocurrency market. As it turns out, cryptocurrencies exhibiting a greater risk tend to yield higher average returns. The study has been published in International Review of Financial Analysis.

Results of the Contest to Predict Nobel Prize Winners in Economics

Claudia Goldin's award was predicted by five people. They are Olga Peresypkina (RSVPU), Anastasia Sirotina (first-year student of the Bachelor's in Applied Mathematics and Information Science at HSE University), Mikhail Shabanov (Global Vision Asset Management LLC), Tatul Hayrapetyan (PhD student at the Stanford Graduate School of Business), and Hemant Kumar (Ettumanoorappan College, Kerala, India).

Financial Sector Risks Can Hinder Transition to Green Economy

According to HSE and MGIMO economists, increased financial sector risks in developed countries may be associated with a higher carbon footprint in banks' loan portfolios. This is likely due to the fact that in response to an unstable economic situation, banks tend to issue more loans to companies that have a detrimental impact on the environment. Although this might yield short-term profits for the banks, such trends hinder humanity's progress towards achieving a green economy. The paper has been published in Environmental Science and Pollution Research.

Winner of 2023 Nobel Prize in Economics Announced

The Royal Swedish Academy of Sciences has awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2023 to Claudia Goldin (Harvard University, Cambridge, MA, USA), ‘for having advanced our understanding of women’s labour market outcomes.’ According to the Nobel committee, Professor Goldin has uncovered key factors that determine gender differences in the labour market.

Millennials Are Three Times Ahead of Zoomers in the Monetised Creator Economy. Even Boomers Outperform Them. Okay Then…

A group of specialists from the HSE Institute for Cultural Studies, Vitaly Kurennoy, Alexander Suvalko and Maria Figura, have determined two main trends that are actively shaping the image of the creative economy and culture in 2021-2023: the creator economy and the maker economy.