Renowned hotel executives from across Europe join forces to launch Hospitality Asset Managers Association of Europe.
The Hospitality Asset Managers Association (HAMA) announced the launch of a new international affiliate, HAMA Europe. This exciting launch comes at a pivotal time in the European hotel industry when asset management has emerged as the central element to hotel investing. HAMA Europe will seek to support the evolution of the hotel asset management profession across Europe while furthering the Association’s global footprint.
“HAMA USA is pleased to welcome HAMA Europe as its third International Affiliate, joining HAMA Asia Pacific and HAMA Japan. Global growth of our Association is critical to supporting our mission of enhancing the effectiveness of hospitality asset managers through education, advancement of the profession, and serving as the collective industry voice of hospitality ownership,” says Ruby Huang President of HAMA USA.
HAMA members are involved in asset management, acquisition, financing and disposition of hotels and resorts and are directly responsible for making decisions concerning capital investments, renovations, asset repositioning, operational policies and brand and management selection. HAMA consists of more than 200 members across the United States and through international affiliates. Its membership in the United States represents more than 3,500 hotels and resorts across every major brand, accounting for more than 775,000 hotel rooms, 250,000 employees, $40 billion in annual revenue and $3 billion in capital expenditures.
“We are thrilled to bring together leaders from across the European hotel industry to launch HAMA Europe. We are committed to carrying out the Association’s mission at a time of growing interest in the hotel asset management profession in Europe,” says Theodor Kubak, President of HAMA Europe.
HAMA USA was born out of the economic distress in the USA in the early 1990’s when countless banks were forced to assume ownership of hotels and many institutional investors first became interested in the sector as a core asset class. These new players lacked the expertise required to execute a comprehensive hotel investment strategy which ultimately led to the birth of the hotel asset management profession.
A similar story is playing out in Europe now where recent economic turmoil together with central bank policies has increased the attractiveness of real estate, especially hotels, as a core asset class. “While the major brands continue their asset light strategies and domestic banks struggle with legacy hotel loans, new players from around the globe are seeking to enter the sector. This has fundamentally altered the landscape of hotel owners across Europe right at a time of increased complexity in hotel investing,” says Cody Bradshaw, SVP of Starwood Capital Group. “All of this supports the launch of HAMA Europe at this critical juncture in our industry’s progression.”
Dr. Florian Aubke, Professor at MODUL University said: “With the support of HAMA Europe founding members and the Michigan State University we are on course to launch three enrichment courses focusing on Asset Management aspects as part of the MBA program in the areas of tourism and hospitality management.”
The private MODUL brand, owned by the Vienna Chamber of Commerce, stands for more than 100 years of excellence in education. “Today students from over 70 countries form the international student base of our MODUL University Vienna” says Dr. Aubke.
Paul Hastings, the leading global hospitality law practice, advised HAMA on the launch of this new European affiliate. “Paul Hastings is proud to provide legal counsel to HAMA Europe,” said Jeffrey Diener, partner in the London office of Paul Hastings LLP. “HAMA offers an indispensable service to the hospitality industry and our team of dedicated European real estate lawyers looks forward to supporting HAMA Europe in delivering this service.”
Founding Members of HAMA Europe include:
- Cody Bradshaw, Starwood Capital
- Karim Jalloul, JJW Worldwide (excused)
- Theodor Kubak, Union Investment Real Estate GmbH
- Andreas Locher, Union Investment Real Estate GmbH
- Martin Locker, UBM Realitatenentwicklung AG
- Ramsey Makarious, Cedar Capital
- Gabriel Petersen, Blackstone
- Todd Shallan, KSL Capital Partners (excused)
- Desmond Taljaard, London and Regional
- Derek Scott White, ADIA
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
