Amedeo Hotels announces an unprecedented joint venture with the Cornell University Center for hospitality research; $100,000 grant fosters academic research with far-reaching benefits to the hotel industry.

NEW YORK--(BUSINESS WIRE)--Nov. 14, 1995--Amedeo Hotels, owners and operators of The New York Palace hotel in mid-town Manhattan announced today a partnership with The Center for Hospitality Research at the prestigious Cornell University School of Hotel Administration in Ithaca, New York.

The new partnership has been formed to foster research projects that will combine the theoretical aspects of academic research with the practical demands of a thriving hotel operation.

"We are confident that our partnership with the Cornell University Center for Hospitality Research will result in important contributions to the hospitality industry, particularly in the luxury segment of which we are part," noted Richard J. Cotter, managing director of The New York Palace. "In a sense, our hotel has become a working laboratory where exciting ideas and innovations with longterm benefits will be explored with Cornell. We look forward to a dynamic joint venture."

Central to the partnership is The Amedeo Research Grant designed to foster original research that will lead directly to long-term improved profitability of international luxury hotels through an enhanced guest experience. Research topics will focus on the needs of the hospitality end user. Results will, in turn, be translated into operating principles in the areas of Operations, Management, Marketing, Human Resources, Accounting and Finance.

The $100,000 Amedeo Research Grant will be administered by The Center for Hospitality Research under the supervision of the Center's director, Dr. Leo Renaghan. Competitive grants of up to $20,000 each will be awarded. Awardees will be selected by a distinguished panel of academic and industry judges who will base their selection upon potential contributions to luxury hotel management, research methodology and innovation of ideas or design.

The academic judges are Professor Cathy Enz, Associate Professor of Management; Professor Craig Lundberg, Kenneth Blanchard Professor of Human Resources Management; and Steven Mutkoski, Banfi Vintners Professor of Wines, Education and Management, all of the School of Hotel Administration; and Vithala Rao, Deane W. Malott Professor of of Management and Professor of Marketing and Quantitative Methods of the Johnson Graduate School of Management at Cornell.

Industry judges include Bjorn Hanson, National Industry Chairman- Hospitality, Coopers & Lybrand; Michael Glennie, president of the Boca Raton Resort & Club; Peter C. Yesawich, president and chief executive officer of Robinson, Yesawich & Pepperdine, Inc.; and Richard Chambers, director of marketing for The New York Palace.

Using the Internet and other industry and academic communication channels, Professor Renaghan put out a call for two-page research proposals. An impressive total of 54 two-page proposals were submitted for consideration. From these, eight were selected by the judges for in-person presentations on Nov. 13, 1995. Six of the eight presenters have been invited to prepare full proposals (ten pages) for review and final approval by the same judges in Jan. of 1996. Project research must be completed by Jan. of 1997.

The six topics selected for full proposals are: Competitive Advantage- Luxury Hotels and the Information Superhighway; Managing Customer's Expectations through Promotional Communications: Does Culture Matter and to what Extent?; The Role of Visual Corporate Identity; Customers' Value Perceptions in the Luxury Hotel Segment; Performance Measurement for Luxury Hotels; and Relationship Marketing in the Luxury Hotel Segment.

The Center for Hospitality Research

The School of Hotel Administration at Cornell University has served the hospitality industry through its commitment to timely research for more than 70 years. In 1992, the School embarked on a new chapter by creating the Center for Hospitality Research with Dr. Leo Renaghan at the helm.

The Center was designed as a forum in which scholars and industry professionals can work together in pursuit of common research goals. Its mission is to focus academic research on the needs and concerns of the hospitality industry, to address pervasive issues that may affect international competitiveness, and to ensure that business maximizes the benefit of research through the rapid conversion of findings into practice.

The New York Palace

The New York Palace is located at 455 Madison Avenue between 50th and 51st Streets across from St. Patrick's Cathedral in Manhattan's central business district. The hotel has begun a comprehensive renovation of all guest rooms and suites, public areas, meeting space and dining facilities to be completed in fall of 1996. A high-tech meeting center and complete fitness center and spa are among the facilities that will be added to the hotel. A member of The Leading Hotels of the World, The New York Palace is known for its spacious accommodations and a high level of personal service.

CONTACT: The New York Palace

Anita P. Cotter, 212/303-6075