HAMA EUROPE 2018 Achievement Award
The 2018 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.
The award is co-sponsored by HAMA Europe and Questex Hospitality Group and will be presented during the International Hotel Investment Forum (IHIF) on the 5th of March 2018 at the Intercontinental Hotel in Berlin.
Winners will be invited to participate in a panel during IHIF to showcase their project.
There are 3 subcategories: HAMA Europe Award for the Best Value Add Strategy, HAMA Europe Award for the Best Sustainability Strategy, and HAMA Europe Award for the Best Re-positioning Strategy.
Overall Winner – HAMA Europe Asset Management Achievement Award – The award will be presented to the best project of the year, regardless of the category the project was submitted for.
1. Value Add Strategy
The award presented to the project with the best value add strategy which could be related to the restructuring of an operational model, implementing a revenue or cost saving strategy, change of use of areas 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. Sustainability Strategy
The award will be presented to the project with the best sustainability strategy which can include improvements to the energy efficiency of the property, ecological and sustainability initiatives, implementation of green initiatives or LEEDS certifications.
3. Re-positioning Strategy
The award will be presented to the project with the best re-positioning strategy. This could include a 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 services, re-positioning from an unbranded to a branded property, launch of a new concept for the entire property or parts thereof, including adjacent standalone elements of the property, such as but not limited to a conference centre, spa or F&B outlet.
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 company. 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 itself needs to be located in Europe and can be a hotel in any service class from limited service to luxury, hostel as well as a mixed used development including a hotel. The asset 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 initiative will be evaluated taking the following parameters and criteria into account:
1. Overall Strategy
Asset description, project background, investment rationale, key objectives & deliverables.
2. Asset Management Actions
Specific initiatives, challenges overcome, innovative & creative tactics deployed across areas such as operations, physical asset, brand/operator selection, contracts & 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 (incl. supportive evidence).
4. Corporate Social Responsibility
Positive impact of project on people (society), planet (environment) and economic (profit), including measurable results (e.g. reduced energy consumption, major awards received, job creation & neighbourhood impact).
Why do you believe that your project should be chosen as the winning one for 2018?
The deadline for the submission of the application is 12:00 CET, Thursday 15th of February 2018.
To be considered, simply complete the application available here.