HAMA Europe Asset Management Achievement Award presented to Pyramid Hotel Group at IHIF
BERLIN – The second annual HAMA Europe 2017 Asset Management Achievement Award was presented to Chris Pfohl from Pyramid Hotel Group at the 20th International Hotel Investment Forum (IHIF).
The award is co-sponsored by HAMA Europe and Questex Hospitality Group and recognises exemplary work in asset management initiatives for the hospitality industry. The award was created to recognise the best hotel project in class 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 Pyramid Hotel Group project was focused on the acquisition, renovation and re-positioning of The Temple Bar Hotel in Dublin, Ireland. The Pyramid group leveraged all aspects of operational and real estate optimization techniques to maximize value and transform the property, repositioning it from a 3-star to a 4-star segment.
In addition, and new for 2017, HAMA Europe has launched three further awards to recognize Sustainability, Value Add and Repositioning strategies within this area of the industry. The winners of these awards are:
IHIF HAMA Europe Value Add Strategy 2017
Union Investment Real Estate GmbH
The project was focused on the Pullman Berlin Schweizerhof Hotel where Union Investment Real Estate GmbH changed the use of areas with the aim to increase EBITDA and also restructured the operational model, moving away from a direct lease contract to a tri-angle partnership balancing the interest of different parties and optimizing the asset value.
IHIF HAMA Europe Sustainability Strategy 2017
UBM Hotels Management GmbH
The project was focused on developing an Energy Monitoring System across a portfolio of 15 hotels aimed to save energy consumption on a long term basis.
IHIF HAMA Europe Re-positioning Strategy 2017
Pyramid Hotel Group
The project was focused on the acquisition, renovation and re-positioning of The Temple Bar Hotel in Dublin, Ireland.
Theodor Kubak, HAMA Europe President; Senior Investment Manager, Union Investment presented the awards and Kubak said: "All of this year's submissions demonstrated world class hotel asset management skills. The winners displayed flawless execution of the core competencies of the hotel asset management profession as reflected in the HAMA Certified Hotel Asset Manager (CHAM) programme.".
Kerry Gumas, President and Chief Executive Officer, Questex said "as the hotel investment cycle enters a period of slowing M&A activity, it is inevitable that more focus will be given to asset management activities and the skills required to understand how to make your existing investments work harder will be highly sought after. We're happy to be working with HAMA Europe again on this initiative and see the introduction of the three sub categories as further evidence of the focus on this area of the industry. Our sincere congratulations to all the winners".
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For information on HAMA Europe, visit www.hama-europe.org.
About HAMA
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 management selection. The association's mission is to, "Further the knowledge and skills of our members, facilitate peer relationships, and serve as the collective voice of members and hospitality asset owners." Its U.S. members represent more than 3,500 hotels and resorts across every major brand, accounting for 775,000 hotel rooms, 250,000 employees, $40 billion in annual revenue and $3 billion in capital expenditures. The organization boasts an additional 245 international affiliate members, as well.
