Hospitality Asset Managers Association (HAMA) Names Annual Student Case Competition Winners

Officials of the Hospitality Asset Managers Association (“HAMA”) today announced that The Pennsylvania State University’s undergraduate team and Boston University’s graduate team have been selected as the winners of the 19^th Annual HAMA Student Case Competition.

The winning teams were comprised of:

BOSTON UNIVERSITY (GRADUATE)

• Rishabh Sharma – Master of Science in Hospitality Real Estate
• Eva (Jinyi) Li – Master of Science in Hospitality Management
• Albina Zhangirova - Master of Management in Hospitality

THE PENN STATE UNIVERSITY (UNDERGRADUATE)

• Logan Prendergast – Bachelor of Science in Hospitality Management
• Andrew Heiland – Bachelor of Science in Hospitality Management

Presented with a case study containing a fictitious, underperforming hotel in Boston, students were tasked with making a recommendation to the board for a "survival action plan" to restore the hotel to its former level of profitability, or better, or the hotel would be sold. Four options were offered: add a conference center; add a health facility; redesign the F&B outlets; or develop their own unique idea. Working with ten HAMA members and their respective university professors as mentors, participants were required to provide a board presentation summarizing their recommendation, supporting narrative and analytics of their business case. PSU’s winning entry recommended an action plan and strategy that included a full renovation of all F&B outlets and development of a new meeting facility. BU’s suggested action plan focused on rooftop bar utilization, relocation of the restaurant, closing the cocktail lounge and converting the coffee shop to a fitness area.

It amazes me that 19 years into the HAMA Student Competition, the entire committee continues to be impressed with the fresh ideas and perspectives presented by the next generation of hotel asset managers every single time,” said. Their entry into the world of hospitality asset management portends a bright future for our industry. We look forward to hosting them in Boston during our Spring Conference. Adam Tegge, HAMA education committee chair

The winning teams each received $5,000, plus an all-expense-paid trip to HAMA’s Spring Conference to meet and network with some of the industry’s leading hotel asset managers. In addition to the award presentation, the two-day event hosts multiple informational sessions and group meetings to discuss the latest industry trends and share best practices.

The respective teams were selected from a field that included students from the University of Denver, Cornell University, Florida International University and University of Texas Rio Grande Valley.

The HAMA Competition provided a great platform for us to share our vision toward a case that could have easily been a real-life hotel; it made us think through different scenarios and offered a steep learning curve. Speaking to industry professionals and getting mentored by an excellent asset manager was really helpful throughout the process. BU’s Rishabh Sharma

The Pennsylvania State University and Boston University students were advised respectively by John W. O’Neill, MAI, ISHC, Ph.D., professor/director of PSU’s Hospitality Real Estate Strategy Group, and Kaushik Vardharajan, associate professor of the practice, director of Boston University School of Hospitality Administration’s real estate program.

Through this competition, I gained deeper insight into asset optimization, financial performance analysis and the complexities of hotel investments. This experience has reinforced my passion for real estate and asset management within the hospitality industry, and I look forward to further developing my expertise in this field. PSU’s Andrew Heiland.