Hospitality Asset Managers Association Spring Conference Features MSU Students
East Lansing, Michigan - May 29, 2014 - Two teams of students from The School of Hospitality Business at Michigan State University were selected by the board of the Hospitality Asset Managers Association to present their research in HAMA's 4th annual student case competition at the organization's spring conference in San Diego, May 6-7. Penn State and Cornell were each also represented by two student teams.
Originally prepared as part of Dr. A.J. Singh's HB 382 - Hospitality Business Real Estate Investment Management class, the projects were designed to research an asset management trend, practice or issue in the hospitality industry. Students were divided into 16 small (two-person) teams, and chose from an array of topics provided by the HAMA board of directors. Subjects ranged from e-commerce to revenue management, and from labor updates to technology and hotel investment analysis. Each team was guided in their research and writing by Dr. Singh, as well as a HAMA member “mentor.” The result for each team was a ten-page research paper and a 10-slide Power Point presentation. After all the teams submitted their work to the HAMA Student Case Competition Coordinator and Education Committee Chair Melissa Silver, two teams from each participating school were chosen as winners which could then go on to present in San Diego.
The winners of the case competition from The School are:
Team One: Adam Kazanowski (Finance BA '15), Gordon Miles (Finance BA '15), and Aaron Gold (BA '14), mentored by alumnus Eric Haberman (BA '87), senior vice president of asset management with Host Hotels and Resorts. The team presented a current technological innovation in the hotel industry which is “revolutionizing how housekeeping is handled in hotels.” The Room Expeditor System (REX), developed by Miami-based MTech in 2009, optimizes the cleaning of rooms by continually updating their status through housekeepers' iPhones, iPod touches, or droids. It helps housekeepers prioritize, leading to more efficiency and, therefore, higher profit margins.
Team 2: Joshua Roberts (BA '15) and Kate Menge (BA '14), mentored by Miguel Rivera, senior vice president with HVS Asset Management. The team examined how the social media era interferes with online travel agencies, and concluded that the distribution channels for hotel companies has proliferated with the growth of online travel agencies. However, the challenge for hotel companies is to find the optimal mix of online travel companies, social media, and direct bookings to maximize revenues.
The winning teams traveled to San Diego with travel, lodging, and meal expenses funded by HAMA. They presented to the entire HAMA membership, and each student was assigned a HAMA mentor who arranged for one-on-one meetings with other members and access to portions of conference presentations, ensuring a rewarding and educational experience.
The students appreciated the unique opportunity they had been given. Aaron Gold said afterward, “I enjoyed my experience at the HAMA conference. I liked meeting the people, learning the culture, and seeing the strategic process in hospitality asset management.”
Each winning team is also invited to present their projects at the AHFME research symposium in New York in November 2014, and their research will be included in the Journal of Hospitality Financial Management.
“All of our students take this project very seriously, and the two winning teams are to be congratulated on their professional-level work and presentation,” says Dr. Singh, director of The School's Real Estate Investment Management Specialization (in which each winning student is enrolled). “Each one of our teams, not just the winners, was mentored by an industry professional. I know of no other association that provides individual mentorship at this level, and it shows in the high quality of the students' projects.”
Coordinator of the case competition and chair of the HAMA Educational Committee Melissa Silvers, principal with SCS Advisors, was proud of each submission, and very impressed with each winning team. “Melissa has introduced the students to the asset management segment of our industry and to the work of HAMA through the case competitions,” says Dr. Singh. “The competition also benefits the industry because the students, when they graduate, are well prepared to step right in to the roles of analysts and asset managers.”
“These students Think Like the Owner,” says Dr. Ron Cichy (BA '72, MBA, '77), School director. “Their analytical abilities combined with their understanding of management, operations, and real estate create talent that is highly sought after by the industry.”
WE ARE THE SCHOOL™
“WE” represents the tens of thousands of relationships among students, faculty, alumni, and industry partners. “THE” reflects our 87-year foundation of preparing the hospitality industry's managers and operators. Today The School also emphasizes real estate and thinking like the owner throughout the curriculum, for all our students.
About The School of Hospitality Business at Michigan State University
Michigan State University: Creating Knowledge and Transforming Lives
Recognized as the top-ranked hospitality business school, The School has a unique, industry-specific position within Michigan State University's Broad College of Business. Celebrating its 87th anniversary year in 2014, The School has almost 10,000 graduates worldwide, including a number of leading academicians and industry executives who have earned both undergraduate and graduate degrees. Founded in 1927, The School offers an exceptionally well-crafted curriculum, taught by innovative professors who are leading textbook authors, sought-after consultants, and respected researchers. The mission of The School is
to inspire continuous learning by empowering present and future managers to ACQUIRE knowledge, skills, and global Hospitality Business leadership positions to create knowledge by engaging in collaborative theoretical and applied research for the benefit of undergraduate and graduate students, Hospitality Businesses, and the community of hospitality management scholars to engage our Hospitality Business partners through outreach and service, and to enhance global Hospitality Business economic, community, and academic development and to continuously improve The School's global leadership position in Hospitality Business operations, management, real estate development, and ownership.
The First, The Original, and still The Leader. . . The School of Hospitality Business.
WE ARE THE SCHOOL™
For more information, please visit us online at: www.hospitalitybusiness.broad.msu.edu
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