Initially unorganized and rudimentary, it was not until the 1960s and 70s that the hospitality industry experienced significant change and growth. The spread of franchising, third-party management contracts, and legislation resulting in the birth of REITs presented a first milestone for asset management and triggered some of the players to redefine their strategies, business models and ownership structures, specializing in core competencies. As a result, the need for hospitality asset managers continues to grow as capital owners try to maximize their ROI and ROA and reduce the industry-specific knowledge gap with operators. Anne-Marie Auriault, head of asset management for Swiss-based Eurofin, shares her perspective on where the discipline is headed.
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