The real estate industry’s only certification in hotel brokerage, the Certified Hotel Broker designation was initiated in 1994. Just as the MAI and CCIM programs raise the level of professionalism and proficiency of appraisers and commercial real estate brokers, the CHB designation distinguishes those hotel brokers who have advanced their professionalism.
The designation is earned through rigorous study, practical application and examination by a jury of hospitality and real estate professionals. Brokers successful in earning the certification have proven their ability to provide the highest level of professional service and guidance to their hotel real estate clients.
Program History and Coursework
The Certified Hotel Broker program was developed by HBI and the Graduate School of Business of the University of Texas at Austin, under the guidance of Gary Cadenhead, PhD. CHB coursework is currently offered through HBI and the Professional Development Program of the Hotel School of Cornell University. Coursework in hotel economics, investment analysis, sales strategy, marketing, information technology and hotel brokerage make up the core CHB program elements.
Two of the three modules composing the CHB coursework are taught in week-long sessions offered through Cornell’s Professional Development Program. To earn the CHB designation, candidates are required to complete these, as well as a third module that includes oral and written examinations administered by HBI.
An elite board of hotel investors and real estate professionals reviews candidates’ practical application of coursework via listing presentations, packaging and sales skills as the final step in the certification process.
Professional Skills and Requirements
To earn the CHB designation candidates must successfully complete the three program modules, pass oral and written examinations and meet all professional requirements.
To receive certification CHB candidates must meet the following requirements:
- Possess a minimum of three years experience in hotel real estate sales and have acted as the primary listing and/or selling agent or hotel acquisition/disposition specialist in three transactions.
- Be a licensed real estate broker or salesperson.
- Program standards and requirements ensure that individuals holding the CHB designation have demonstrated mastery of the hotel real estate sales process, including valuing hotels, making effective sales presentations, producing professional marketing packages, and utilizing cutting-edge information technology.