WASHINGTON & BOSTON & PHOENIX--(BUSINESS WIRE)--CHMWarnick, the preeminent asset manager and business advisor to the hospitality industry, announced today that Craig A. Mason (CHAM), has been named executive vice-president and will establish the company’s Washington, D.C.- metropolitan area office.
“Craig is a highly-respected industry executive with impeccable credentials, including the coveted CHAM (Certified Hospitality Asset Manager) designation, an impressive track record in creating asset value and a welcome addition to our leadership team,” said Chad Crandell, CEO and managing director of CHMWarnick. “The opportunity to establish an on-the-ground presence in Washington D.C. will further enhance our ability to service clients on the eastern seaboard and beyond. More importantly, we view Craig as a strategic addition. He is one of the best and most experienced in the business, and further enhances our ability to provide our clients with the highest level of expertise and access to strategic industry relationships, regardless of property location. With his deep knowledge, industry involvement, entrepreneurial style and proven ability to create value for owners, Craig is the ideal candidate to join the senior ranks of our team. Having asset managed more than 100 hotels in different markets and across multiple brands, operators and property types, he has an exceptionally strong background to support and drive value for our hotel investment clients.”
With more than twenty years of upper-upscale and luxury hotel asset management experience, Mason most recently was senior vice-president of asset management for Host Hotels & Resorts, where he served on the senior leadership team for 15 years. In 2017, he led the company’s asset management division, overseeing 110 properties covering the U.S., Canada, Europe, Latin America and South America across 21 brands.
“CHMWarnick has earned its reputation as the pinnacle of professional, third-party hospitality asset management, which was one of the primary reasons I wanted to join their team,” stated Mason. “They are a team-led and entrepreneurial organization focused on delivering superior results. They have created a culture of constant improvement using cutting-edge technologies and methodologies.
“In addition to an asset management portfolio of more than 29,000 guestrooms, CHMWarnick has also become the go-to firm for advisory on new development and repositioning projects given their significant breadth of experience and has guided owners on the opening of roughly a dozen properties within the last 24 months alone. The opportunity to represent clients on the caliber of projects underway was very exciting.”
“Craig’s philosophy aligns with so many of the key factors that have supported our team’s success over the years,” noted Richard Warnick, managing director and co-chairman of CHMWarnick. “And given his experience in repositioning complex luxury assets like the Phoenician and the Fairmont Kea Lani in Maui, it’s exciting to know that he will become a key resource for the numerous ground-up developments and repositioning projects that we’re involved in.”
Mason is a member of the Hotel Asset Management Association (HAMA), having served on the board of directors, and was a contributing author in the first and second editions of the book, Hotel Asset Management, Principles and Practices. He is one of the founders and holders of the Certified Hotel Asset Manager (CHAM) designation. Mason recently served on the AHLA’s Financial Management Committee where he contributed to the publication of Uniform System of Accounts for the Lodging Industry - 11th Edition. He also served on Georgetown University’s inaugural advisory board for the development of the master’s program in Global Hospitality Leadership and represented Host Hotels & Resorts on Marriott’s Rooms Advisory Board and the Marriott US Integration Advisory Board.
Mason graduated with distinction while earning his Bachelor of Science degree from the School of Hotel Administration at Cornell University. He holds a Master of Management degree from the Kellogg Graduate School of Management at Northwestern University with a finance and international business duel concentration, as well as a Master of Science degree in real estate at Johns Hopkins University, Carey School of Business.
“Sharing many of the same ideas regarding an owner-centric philosophy and proven strategies for enhancing hotel asset value, CHMWarnick is a perfect fit for me culturally,” Mason added. “Many of the team members and I cut our teeth at Laventhol & Horwath, so we have a long history of knowing and working with one another. Having recently doubled their hotel asset management portfolio and with their involvement in several new hotel developments, I can think of no better time to join the team.”
CHMWarnick is the preeminent provider of hotel asset management and owner advisory services. The company asset manages over 70 hotels comprising approximately 29,000 rooms valued at roughly $15 billion and is advising on development projects valued at over $2 billion. CHMWarnick’s hotel owner advisory services include asset management, hotel planning and development, acquisition due diligence, owner-entity accounting, management/operator selection and negotiation, capital planning and disposition strategy. CHMWarnick is the thought leader in hotel ownership issues and asset management practices, and has nine offices nationwide, including locations in Boston, New York, Los Angeles, Phoenix, Fort Lauderdale, Minneapolis, San Francisco, Honolulu and Washington, D.C. For more information, contact 978.522.7002 or visit www.CHMWarnick.com. For the latest company news, follow CHMWarnick on Twitter @CHMWarnick and LinkedIn.