Rich Musgrove

Executive Vice President

Rich Musgrove, Executive Vice President and co-practice leader of hotelAVE's West Coast operation, is a 30-year veteran and active investor in the hospitality and commercial real estate industries.  His background includes senior leadership positions with investment advisory firm Chartres Lodging Group, as well as public real estate investment trust Ashford Hospitality Trust, where he created the REIT’s asset management department while overseeing growth from a 12 property portfolio to 120 properties within a three year period.  His additional asset management experience includes positions overseeing multiple classes of real estate with Host Marriott Corporation, The Estate of James Campbell, and the Trammell Crow Company. 

Mr. Musgrove is a long-time member of the Hospitality Asset Managers Association, through which he was instrumental in driving the creation of the Certified Hotel Asset Manager (CHAM) certification to recognize the pre-eminent practitioners of asset management within the hospitality space.  He was the inaugural chairman of the CHAM Advisory Panel overseeing the designation program and was among the initial group of six individuals to obtain the certification. 

Mr. Musgrove earned a Bachelor of Science degree from Cornell University’s School of Hotel Administration and an MBA with a concentration in finance from the University of Chicago’s Graduate School of Business.  He holds numerous professional certifications, including the Certified Property Manager® designation through the Institute of Real Estate Management, the Certified Hotel Administrator designation from the Educational Institute of the AH&LA, the Commercial Investment Real Estate Member designation from the CCIM Institute, and the Real Property Administrator designation from the BOMI Institute.   He is also a licensed real estate broker in the state of Texas.

Professional Experience

  • Pau Hana Hospitality, LLC
  • Chartres Lodging Group, LLC
    Executive Vice President, Asset Management
  • Ashford Lodging Trust
    Senior Vice President, Asset Management
  • Host Marriott Corporation
    Vice President, Asset Management
  • The Estate of James Campbell
    Senior Asset Manager, Asset Management
  • The Trammell Crow Corporation
    Financial Manager 

Designations, Affiliations, and Awards

  • Hospitality Asset Managers Association (HAMA): Certified Hotel Asset Manager (CHAM)
  • American Hotel & Lodging Educational Institute (AHLEI): Certified Hotel Administrator (CHA)
  • Building Owners and Managers Institute: Real Property Administrator (RPA)
  • CCIM Institute: Certified Commercial Investment Member (CCIM)
  • Hospitality Asset Managers Association (HAMA): Member and Inaugural Chairman, Certified Hotel Asset Manager Advisory Panel
  • Licensed Real Estate Broker: State of Texas


  • Master of Business Administration - Graduate School of Business, University of Chicago
  • Bachelor of Science - School of Hotel Administration, Cornell University


  • Co-Editor: Hotel Asset Management Principles and Practices (2016) 3rd Edition
  • Co-Author: The Hotel Investment Decision: Buy, Hold, and Sell Analyses (Chapter 5) - Hotel Asset Management Principles and Practices (2009) 2nd Edition
  • Co-Author: The Hotel Investment Decision: Buy, Hold, and Sell Analyses (Chapter 10) - Hotel Asset Management Principles and Practices (2004) 1st Edition

Speaking Engagements

  • Featured Speaker: "Ask the Expert" Participant for eCornell Real Estate Course Series (August 2016)
  • Guest Lecturer: Asset Management in the Hospitality Industry - Pennsylvania State University (February 2014)
  • Panelist: Asset Management - Now More Than Ever - Hunter Hotel Investments Conference (March 2010)
  • Guest Lecturer: The Hotel Investment Decision - University of Denver (April 2004)
  • Guest Speaker: The Hotel Investment Decision - Americas Lodging Investment Summit (January 2004)
  • Instructor: Center for Professional Development - Cornell University (July 1985; July 1986)