HAMA recently opened two affiliate organizations, HAMA Europe and HAMA MEA, adding more than 100 new members to the global organization.
BOSTON, MASS. – The Hotel Asset Management Association (HAMA) announced that it now offers its Certified Hotel Asset Manager (CHAM) certification program to non-U.S. asset managers wishing to achieve the profession’s equivalent of the Certified Public Accountant (CPA). HAMA recently opened two affiliate organizations, HAMA Europe and HAMA MEA, adding more than 100 new members to the global organization. Founded in the U.S. in 1992, HAMA also has affiliates in Asia Pacific and Japan.
“The responsibilities of hotel asset managers are far more encompassing than they have ever been in past, and the position has rapidly gained recognition in the real estate investment community,” said Melissa Silvers, principal for SCS Advisors and HAMA board member who spearheaded the CHAM program. “CHAM certification was designed to confirm the institutional/fiduciary role and expectations of senior asset managers. As the role of hospitality asset managers expanded over the last several years, it became increasingly important to offer certification to our international members to demonstrate that they have achieved the same level of expertise as our U.S. members.”
The CHAM designation places primary emphasis on experience in determining a candidate’s qualifications in the area of hotel asset management. To be eligible for certification, candidates must demonstrate a minimum of seven years of lead hotel asset management experience and provide letters of professional recommendation. Upon approval by the CHAM advisory panel, the candidate may take the CHAM exam as the final step in the CHAM certification process.
The four-hour CHAM exam consists of 200-multiple choice questions covering six key areas of knowledge, including the Asset Management Process, Operations, Real Estate & the Physical Asset, Contracts and Legal Aspects, Benchmarking and the Investment Decision. CHAM candidates receive a comprehensive content guide to assist in studying for the exam, and an accompanying resource guide with more than 40 reference materials. Once certified, candidates are required to recertify every five years, to ensure on-going, active involvement in the hospitality asset management field.
“The CHAM designation is the world’s only advanced certification available to accomplished hotel asset management professionals, and we anticipate that this certification will not only help asset managers highlight his/her qualifications, but also will assist owners, lenders and the real-estate community more easily identify qualified industry leaders,” said Ruby Huang, senior vice president of Starwood Capital Group and president of HAMA.
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