The next cohort of scholars will be selected from the candidates who can best answer one of the biggest challenges currently facing the hospitality industry.
They will be asked to submit a 1,000 word essay on "Against a background of reducing numbers of European migrant workers and increasing demand from a buoyant hospitality sector, what should UK hoteliers be doing to address this growing deficit?"
Established in 1997, the Master Innholder scholarships have since involved a total investment of more than £2m from the Worshipful Company of Innholders, the Savoy Educational Trust, the Forte Foundation and the Master Innholders.
David Morgan-Hewitt, managing director of the Goring hotel in London who was among the first group of scholars to study at Cornell, described the courses as "life changing".
He said: "They turn the focus of a career both back onto the individual and also forward in a strategic manner, So often hoteliers get bogged down with day to day running of our establishments. The better the hotel, the more obsessed with detail and service delivery we become. However, it is collective, strategic thinking that will take our industry to the next level.
"The Innholders believe that to get the very best, manager and leaders of the future in our industry, we need to invest heavily where we can. Everyone who has attended these courses has returned filled with both renewed enthusiasm for our industry but also an appetite for some of the most intellectual challenges we face rather the practical problems which fill our days."
Past recipients of the Master Innholder scholarship go on to join the alumini of St Julien Scholars, named after the patron saint of innkeepers. The current chairman is Gareth Banner, managing director of the Ned hotel in London.
"This alumini has allowed for further educational opportunities as well as providing a mentoring scheme for more junior member of our industry," added Morgan-Hewitt.
The Master Innholder scholarship is open to anybody working at a senior level within the hotel industry. Previous connections with the Master Innholders or St Julien Scholars are not required.
Closing date for applications for the scholarship is Tuesday 31 July. Details of the application process can be found at www.masterinnholders.co.uk/scholarship.