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. A CHAM Advisory Panel, comprised of leading hotel asset management professionals and distinguished members of academia, is responsible for reviewing and approving all candidate applications and ensuring the exam content and questions are updated as needed to reflect the on-going evolution of the hotel asset management profession and hospitality industry. Advisory Panel members are CHAM designees appointed by the HAMA Board of Directors.
Across the globe, hotel owners of all types, such as individual property owners, shareholders, lenders, pension funds, and sovereign wealth funds place many millions, if not billions, of dollars of equity and debt investments in the hands of hotel asset managers. These owners and stakeholders need certainty that the individuals directly responsible for the preservation and enhancement of asset values adequately possess the set of skills and knowledge domains required to successfully implement a comprehensive hotel investment strategy from start-to-finish. Achieving the CHAM certification announces that you have a place among the best in your profession and are capable of adequately fulfilling the role and expectations demanded of you by hotel owners and stakeholders.
Once certified, designees are automatically enrolled in the CHAM Recertification Program, which recognizes and rewards continuing efforts toward hospitality career growth. A portfolio to help track professional-development activities is provided. The Advisory Panel will recertify those who qualify based on their accomplishments over the preceding five (5) year period. The CHAM designation and logo may be used on letterhead, business cards, and other writings. A list of CHAM designees can be found on the HAMA website.
The CHAM designation relies first and foremost on an experience factor in determining a candidate’s level of expertise in the area of hotel asset management. Documented evidence of sufficient lead hotel asset management experience is required along with letters of recommendation and payment of an exam fee in order for a candidate’s application to be processed and reviewed by the CHAM Advisory Panel. Once the Advisory Panel approves the application, the candidate may take the CHAM exam as the final step in the CHAM designation process. Details behind each CHAM prerequisite are below:
Seven (7) years of lead hotel asset management experience.
Two (2) letters of recommendation, preferably including one (1) from a current or prior employer/supervisor and one (1) from an “end-user” of the hotel asset management profession (i.e. capital partner, client, lender, etc.).
Payment of fee: EUR 750.- for HAMA members EUR 950.- non-members. Up to 50% of this fee may be refunded to you in the event your application is not approved.
How to Apply
Download and complete the Application for Candidacy.
Send to the attention of Ms. Stephanie Roy or PDF the completed application and forward to firstname.lastname@example.org. Be sure to indicate your preference of exam medium.
Reminder that you must sign and date the Application.
For payment of application fee, the applicant can either e-mail the application with the check mailed to the above address or mail the application and payment to the address above.
Allow 21 days for follow-up from the certification administrator.
Preparation Materials and Exam
The CHAM Exam consists of 200 multiple-choice questions that must be answered within a four (4) hour time period. All test questions are designed to test the candidate’s mastery of various competencies derived from six (6) key areas of knowledge in combination with the minimum years of lead hotel asset management experience.
Candidates for the Certified Hotel Asset Manager (CHAM) designation will have the option of attending an exam preparation class followed by the examination. The preparation class will review the core competencies associated with each knowledge domain included in the exam. These knowledge domains are as follows:
- The Asset Management Process
- Hotel Operations
- Real Estate and the Physical Asset
- Contracts and Legal Aspects
- Financial Analysis and Benchmarking
- The Investment Decision
ONLY confirmed candidates for the CHAM designation are eligible to attend a review class seminar and examination.
HAMA has partnered with AH&LA’s Educational Institute to offer an on-line exam option for interested candidates. All online exams require that examinations be administered under the supervision of a CHAM designee serving as proctor.
CHAM Online Assessment Tool
Approved candidates for CHAM can test their readiness for the CHAM exam with the online CHAM Assessment Tool available through AH&LA’s Educational Institute. The CHAM Assessment Tool is available only to CHAM applicants who have been approved to take the CHAM exam.
The CHAM Assessment is an online diagnostic tool to help assess areas of hotel asset management knowledge and prepare candidates prior to taking the CHAM exam. This tool will help you gauge your expertise in the knowledge and skills needed by today’s hotel asset managers.
The CHAM Assessment Tool consists of one 30-question quiz that correlate to the six (6) sections of the exam knowledge domains listed above. The assessment can be completed within a limited time period and targets all six knowledge domains with questions similar in format and content to those contained on the CHAM exam. After completion of the test, candidates receive an evaluation report indicating their score and skill level against the required benchmarks.
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Working towards the CHAM designation helped me develop a wider knowledge base across the huge range of disciplines that encompass hotel asset management.
Very often hotel asset managers come into the industry through a particular field whether that be finance, branding or operations and with that comes a deep knowledge and expertise in this area. The CHAM designation helps build knowledge across all areas and to develop a well-rounded hotel asset management professional.
Working on the CHAM has helped me refresh some areas of Asset Management that I do not often use on my day to day work as each company has different approach. The recommended readings have evolved rapidly and reflect current issues. It has helped me strengthen some of the areas I was not an expert in and re-evaluate some strategies for our portfolio.