The Cornell Center for Hospitality Research (CHR) announced the availability of a new report entitled, "Hospitality Business Models Confront the Future of Meetings," written by Cisco's Internet Business Solutions Group (IBSG), the company's global consultancy. The new white paper examines virtual meetings, Cisco TelePresence technology and how existing travel and hotel businesses can take strategic advantage of these new capabilities. The report was written by Howard Lock, Cisco IBSG's global hospitality practice lead, and James Macaulay, IBSG's global research lead.

When Iceland's Eyjafjallajokull volcano forced a suspension of European air travel, many travelers used virtual meeting technology to conduct their business. This is just one example of how technology has developed to allow virtual meetings to replace in-person meetings.

Lock and Macaulay point out that virtual meeting technology has come of age just at the moment when corporations are seeking ways to save additional money on travel and meeting expenses. Acknowledging that in-person meetings will not soon go out of style, Lock and Macaulay point to a new corporate meeting strategy in which companies decide whether a particular meeting should be in-person or virtual.

Most critically, they explain the considerable potential for hotels to include virtual meetings as part of their portfolio of services. Firms such as Marriott, Taj, Starwood, and Rendezvous have implemented virtual meeting services, typically offering telepresence rooms that can be connected to a global network. Other travel industry purveyors, including Maritz, Carlson Wagonlit, and American Express, have also added virtual meetings to their suite of services.