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.