Alumnus Profile: Richard C. Conti (MBA ’76), President, The Plasencia Group, Inc.

When Rich Conti talks, people listen. And they should: he is currently the president of The Plasencia Group, Inc., a firm dealing in hospitality transactions and consulting, including services such as asset management, mortgage brokerage, and distinctive property sales, and he comes to the position with more than 30 years of hospitality industry expertise. Today the company exceeds consistent annual transaction levels of $1 billion.

Prior to joining the Plasencia Group, Rich was chief operating officer of Boykin Lodging Company, and in 2001 assumed the additional responsibility of president of the hospitality REIT. Before joining Boykin, Rich was a principal and director with Coopers & Lybrand LLP in their National Hospitality Consulting Practice.

For many years, Rich has been a member of the Alumni Association Executive Board of Directors, and has frequently returned to campus to speak to students in the classroom and at Alumni Association events. Rich represented the industry at The School’s 1998 Hilton Lecture Series on “Hotel Industry Statistics,” which discussed the metrics used in hotel development, asset management, and hospitality real estate. Rich returned for an “encore performance” at the Hilton Lecture Series in 2002, which covered the topic of real estate development and financial management.

"When I think of Rich Conti, I think of the whole package. He is a ‘numbers’ guy, but with a creative, marketing side, as well. It’s not a wonder that he’s been so successful in this business," says Dr. Ray Schmidgall, Hilton Hotels professor of hospitality financial management, and one of Rich’s memorable professors.

That creative side comes out when Rich assists The School’s Alumni Association as longtime chair of its Development Committee. “Rich comes up with innovative ideas to raise the profile of the Association as well as its bank account, allowing us to do more for our students and for our alumni,” according to Dr. Ron Cichy, director and professor. One project he has been particularly passionate about is Celebration of Leadership and Annual Gathering of Leaders sponsorships. He invented the Dialing for Dollars concept to raise funds so our students could be with us at these essential Alumni events. It should not be surprising, then, that he and his wife, Sandy, are members of The School’s Beaumont Tower Society.

After 30 years in the industry, Rich says that it is still important to "work hard and do your best on every assignment." He also tells students to always "show respect for those you work for, and even more importantly, for those who work for you." Noting that the industry is fundamentally changed since he began his career, Rich cites today’s trend where equity funds actually own hotel real estate, with brands simply collecting royalty streams.

Students entering this much more complex industry today are fortunate to have Rich and other alumni who give of their time and knowledge to help them navigate the career “waters.” Rich has been part of The School’s Spartan Sponsors Mentor Program, building lasting relationships with individual students who share his career interests. He considers one of his greatest accomplishments being an effective mentor and watching “his” students grow and become successful.

In addition to his work with our School, Rich is involved with several industry organizations, and serves as the vice chairman of the Hotel Development Council of the Urban Land Institute. He is frequently sought out for his opinions on industry-related issues, and is quoted in the Wall Street Journal, The New York Times, and many industry publications.

Rich would like to be remembered professionally for being a good leader, one who was always fair, even when being fair meant being "tough," and sometimes making difficult decisions.

Most of all, however, Rich would like to be remembered as good father and husband, who with Sandy is raising their children to be happy and productive adults.

Rich was inducted in November 2007 to The School’s Alumni Association Wall of Fame, Class of Developers.