Abstract: A convertible hammock assembly includes a flexible hammock defining a fabric bed having opposing ends and opposing sides, and suspension lines extending from the opposing ends of the fabric bed for hanging the flexible hammock between spaced apart structures. An elongated rigid spreader bar is located at one end of the fabric bed. A conversion cord selectively laterally tensions the fabric bed between opposite ends of the spreader bar, such that the flexible hammock is convertible between a generally inclined condition with increased lateral bed tension at the spreader bar, and a generally flat condition with reduced lateral bed tension at the spreader bar.