Strategy is the key to success for any hotel or restaurant company, but developing and implementing a strategy is sometimes an elusive goal. A series of presentations at the 2012 Cornell Hospitality Research Summit focused on how to develop and apply strategies in the hotel industry, restaurant industry, and the hospitality industry generally. Perhaps the most important aspect of strategic management is finding an appropriate way to measure whether a particular strategy is successful. Also critical is aligning all stakeholders in a hospitality operation.