QUALIFICATIONS FOR MEMBERSHIP
Interested in joining our network of professionals in the hospitality industry?
HAMA is an association of professional individuals who are fiduciaries dedicated to the enhancement of hotel asset values. HAMA meets semi-annually, once in the Spring and once in the Fall.
HAMA is composed of individuals, not corporations. Admission to membership is through the Membership Committee. Individuals must submit a written application including a letter from a Sponsor that is an active HAMA member acquainted with the individual’s work and reputation.
Criteria for membership:
- Primary professional activity is as a practicing hospitality asset manager.
- Practicing hospitality asset manager means an individual whose primary income is generated in the provision of hospitality asset management services.
- Hospitality asset management services must include authority and independence to make decisions in the best interest of the ownership of the asset
- Regular visitation to asset managed hotels
- 2 years of experience in the practice of asset management.
HAMA’s members operate in a work environment where property level asset management is their primary responsibility. A majority of their time is dedicated to asset management activities. HAMA members do not work for lenders nor do they operate hotels. HAMA members work on behalf of ownership groups. HAMA members review and approval annual budgets for each hotel, make capital expenditure decisions, have fiduciary responsibility and decision making authority and visit each hotel multiple times per year.
After qualifying to be a member, membership is retained only if the member attends at least three regular membership meetings within three years, pays dues timely and continues as a practicing hospitality asset manager.
HOW MEMBERS BENEFIT
- Pre-eminent Organization for Hospitality Asset Managers-HAMA’s mission centers on the enhancement of hospitality asset managers through education, advancement of the profession, and serving as the collective industry voice of hospitality ownership. HAMA’s relevancy in the industry is supported by our sponsorship and/or involvement with various research papers, monthly online articles, and publications, all related to the hospitality asset management profession. HAMA members were instrumental in contributing to the hospitality industry’s CapEx study initiative, AH&LA Uniform System of Accounts for Hotels – 11th Edition, and the Hotel Asset Management, Principles and Practices publications.
- Bi-Annual Meetings: HAMA hosts two 2-day meetings per year which are invitation only to HAMA members and their guests. These meetings are offered on a complimentary basis to active HAMA members. Meeting agendas are curated to include educational topics, productive discussion forums, and the latest industry communications and updates relevant to supporting our mission and increasing asset values on behalf of hotel owners worldwide.
- Unparalleled Networking Opportunity: Our membership roster includes over [xxx] members representing private equity investors, insurance companies, individual owners, REITS, national pension funds and pension fund advisors—all dedicated to the hospitality industry. Members have access to our contact database to promote networking.
- CHAM Certification: The Certified Hotel Asset Manager (CHAM) designation is the world’s only advanced certification available to accomplished hotel asset management professionals. CHAM designees represent an elite group of senior hospitality professionals whose advanced knowledge in all facets of hotel ownership and operations was developed over a significant number of years serving in the role of “lead” asset manager. Their knowledge base is further validated by achieving a passing score on the comprehensive CHAM exam in addition to satisfying other designation requirements. The certification was launched in 2012 under the guidance of the Hospitality Asset Managers Association (HAMA) in order to establish industry-wide “standards of excellence” within the hotel asset management profession as a means for further solidifying the institutional/fiduciary role and expectations of a senior asset manager within the international hotel real estate community.
- Global Recognition and Affiliations: Outside the United States, HAMA has five International Affiliates located in Japan, Asia-Pacific, Europe, China, and the Middle East, each formed with the mission of enhancing the hospitality asset management profession.
- Support of Hospitality Programs: HAMA hosts an annual student competition to promote hospitality asset management at several of the top universities, including Michigan State University, Cornell University, Penn State, and University of Denver. HAMA members mentor students to write topics relevant to the hospitality industry and winning teams receive recognition, awards, and present their topics during one of HAMA’s meetings.
- Strict Membership Qualifications and Annual Validation: Membership applications are reviewed thoroughly to ensure applicants meet HAMA’s guidelines for membership. HAMA requires its members to validate their qualifications during each annual renewal to ensure its membership base is comprised of professionals who provide hospitality asset management services.
- Job Listing Service: HAMA offers a job listing service to those firms looking for new talent. The job postings are distributed to the entire membership.
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.
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