hotelAVE Instrumental in Development of Industry’s First Professional Certification for Hotel Asset Managers

Providence, RI, May 20, 2012 --(PR.com)-- As a pioneer in the rapidly-expanding field of hotel asset management, hotelAVE is again setting the pace through its leadership in the recent rollout of the Certified Hotel Asset Managers (CHAM) professional designation. This designation is a way “to establish industry-wide standards of excellence within the hotel asset management profession,” says Rich Musgrove, Executive Vice President for hotelAVE and Chair of the inaugural CHAM Advisory Panel. Musgrove, and hotelAVE founder, Michelle Russo, are two of the Advisory Panel’s nine members as well as two of the first seven individuals to hold this prestigious designation.

“Hotel owners need to know that their fiduciary representative is qualified and possesses the comprehensive skill set required to successfully implement a hotel investment strategy from start to finish,” says Musgrove. “I am honored to be part of the team to bring the CHAM certification to fruition. My involvement, along with that of Michelle Russo, should provide our clients enhanced confidence that hotelAVE is on the leading edge of industry developments.”

The Certified Hotel Asset Manager certification program is sponsored by the Hospitality Asset Managers Association (HAMA) in conjunction with the Educational Institute of the American Hotel & Lodging Association. Designees must demonstrate at least seven years of lead asset management experience, submit two letters of recommendation, accept the CHAM Code of Ethics, achieve a passing grade on the comprehensive CHAM examination and participate in continuing education as the designation requires recertification every five years.

Hotel Asset Value Enhancement (hotelAVE), founded in 2003 by Michelle Russo, is one of the largest independent hotel real estate asset management firms in the country. With over $2B of hotel assets under management and an additional $4B of hotel real estate subject to advisory services annually, hotelAVE is dedicated to protecting ownership's investments and pursuing every opportunity to maximize value and achieve above-market returns.

For more information, visit www.hotelave.com.