The HAMA Europe Asset Management Achievement Award recognises the best in class hotel project which has led the way in terms of providing innovative solutions and maximising the return on investment as well as growing the asset value on a particular asset located in Europe over a time period of the last 3 years.
In 2019, the award was co-presented by HAMA Europe and Questex Hospitality Group and sponsored by HotStats, it was presented on the main stage at IHIF to The Principal Hotel Company, Starwood Capital (pictured above).
There are 3 subcategories: HAMA Europe Award for a Single Asset Strategy, HAMA Europe Award for a Portfolio Strategy and HAMA Europe Award for the Best Sustainability Strategy.
Overall Winner – HAMA Europe Asset Management Achievement Award;The award will be presented to the best project of the year, regardless of the subcategory the project was submitted for.
You may apply for one of the following subcategories:
1. Single Asset Strategy
The award will be presented to the project with the best value enhancement strategy applied to a single asset which could be related to the restructuring of an operational model, implementing a revenue or cost saving strategy, refurbishment project of the entire property or parts thereof, re-positioning and rebranding of the property, change of use and extension/addition of additional facilities or service with the aim to increase EBITDA, restructuring from a management to a franchise model, restructuring of a legal contract or refinancing which resulted in added value to the property.
2. Portfolio Strategy
The award will be presented to the project with the best value enhancement strategy applied to a portfolio of assets which could be related to the restructuring of the portfolio, refurbishment, re-positioning or rebranding of the several properties, change of use, restructuring from a management to a franchise model, restructuring of a legal contract or refinancing which resulted in added value of the portfolio.
3. Sustainability Strategy
The award will be presented to the project with the best sustainability strategy for a single asset or portfolio of assets which could include improvements to the energy efficiency of the property, ecological and sustainability initiatives, implementation of green initiatives or LEEDS certifications.
The project presented may include a variety of hotel asset management initiatives or projects aiming to increase the asset value, which were implemented within the last 3 years.
As an applicant, you can choose to present one project per subcategory. The applicant needs to be either the hotel owner, hotel asset manager or hotel advisor, acting as the principal asset manager directly or on behalf of the ownership entity and directly responsible for forming and implementing the asset management strategy in this project.
The asset or majority of the assets within a portfolio need to be located in Europe and can be hotels in any service class from limited service to luxury, hostel, as well as a mixed used development including a hotel. The asset or majority of assets within a portfolio must be in operation, in order to be able to evaluate the effectiveness of the implementation of the asset management initiatives.
The project / asset management initiatives will be evaluated taking the following parameters into account:
1. Overall Strategy: asset description, project background, investment rationale, key objectives and deliverables.
2. Asset Management Actions: specific initiatives, challenges overcome, innovative and creative tactics deployed across areas such as operations, physical asset, brand/operator selection, contracts and legal, space utilisation, investment management.
3. Value Enhancement Results (Operating Performance & Real Estate Value): detailed operating KPI improvements, market penetration/positioning, customer review scores, real estate valuation uplift (including supportive evidence).
4. Environmental, Social, and Governance Criteria: Positive impact of project on environment (nature), social (relationships with customers, suppliers, employees and local communities) and governance (leadership, audits, internal control, shareholder rights), including measurable results (e.g. reduced energy consumption, natural resource conservation, waste management, local community engagement, employee engagement).
5. Conclusion: Why do you believe that your project should be chosen as the winner for 2020?
Please ensure that the above parameters are reflected within the HAMA Europe Submission template part of the application.
7-8 October 2020
19-21 October 2020
Tivoli Marina Vilamoura, Portugal