Ithaca, NY, and Hendersonville, TN - July 6, 2001 -- Smith Travel Research has entered into a strategic alliance with the Cornell University School of Hotel Administration to develop a series of research studies that seek to unravel some of the hotel industry�s thorniest questions.  The research projects will be conducted under the aegis of The Center for Hospitality Research at Cornell University, which is housed at the hotel school.

Three initial studies will examine the following questions:

1. What is the effect on lodging demand resulting from changes in U.S.  gasoline prices?
2. What are the real occupancy patterns of the lodging industry, given that changes in a few large markets can distort the industry�s overall performance figures?
3. What are the causes and outcomes when a property changes its brand affiliation?

�These are studies on issues that industry executives have long wanted resolved,� explained Cathy Enz, executive director of the Center for Hospitality Research. 

�Until now, however, we have never been able to connect a rich hospitality database with analytical expertise of academic researchers.  This alliance makes that connection.�  Under the agreement, the information in STR�s proprietary database remains confidential.

�We are genuinely excited about the potential this unique research collaboration will offer the lodging industry,� says Mark V. Lomanno, President of Smith Travel Research.  �The application of our combined expertise will provide industry decision makers with timely and informative analysis to help lead their companies into a challenging future�, he added.

Smith Travel Research --- the leader in lodging industry tracking and analysis --- provides regular industry reporting to all major North American chains and key hotel companies in Europe and Asia.