HAMS is a multi-discipline rapid response unit which can provide owners, lending institutions, receivers etc. with a range of “hands-on” options to deal with hotels experiencing trading difficulties.
HAMS was founded by Jim Murphy, CEO of PREM Group, in response to discussions with financial institutions seeking support in dealing with distressed hotel assets.
Due to the level of capital investment in hotels in recent years, and the speed of economic downturn both domestically and internationally, severe liquidity issues have arisen in the sector leading to a rapid increase in insolvencies. In many cases, banks have taken steps to protect their security and need to assume control of the trading business. There is a recognised need in such circumstances for an experienced hotel asset management service to operate distressed hotels.