Rich Musgrove 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.
Rich 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.
“One of the great benefits of working in the hospitality asset management profession is that you get to interact directly with individuals in all levels of the business, from line employees in the hotels to executive level investors from around the globe. It can get challenging at times balancing all of the stakeholders’ interests, but it never gets boring!”
Affiliations and Certifications
Hospitality Asset Managers Association (HAMA)
Member and Inaugural Chairman, Certified Hotel Asset Manager Advisory Panel
Hotel Asset Management Principles and Practices (2016) 3rd Ed. – Co-Editor
The Hotel Investment Decision: Buy, Hold and Sell Analyses (Chapt 5) – Co-Author – Hotel Asset Management Principles and Practices (2009) 2nd Ed.
The Hotel Investment Decision: Buy, Hold and Sell Analyses (Chapt 10) – Co-Author – Hotel Asset Management Principles and Practices (2004) 1st Ed.
Has worked at hotelAVE since
Interests and Hobbies
Rich became a PADI certified scuba diver while working for a Caribbean resort company in one of his first jobs out of college. Both of his (now grown) children achieved PADI certification in their early teens, which has led to some of the best family vacations they’ve been fortunate enough to experience.