Hotel asset managers set up European body

The Hospitality Asset Managers Association (HAMA) has launched a European affiliate.

HAMA Europe is the fourth affiliate, alongside USA, Asia Pacific and Japan. Founding members of the European body include representatives of Starwood Capital, UBM, Union Investment, Cedar Capital, London & Regional and Blackstone.

HAMA has more than 200 members in the US, representing more than 3,500 hotels and resorts and $40 bn (€29 bn) in annual revenue.

HAMA USA was created as a result of early 1990s economic troubles that saw many banks forced to take ownership of hotels, but without the experience to manage these assets.