Inc. Magazine names Magnuson Hotels #914 of America’s 5,000 Fastest-Growing Private Companies.
August 20, 2008
NEW YORK, August 20, 2008 – Inc. Magazine today ranked Magnuson Hotels, the world’s largest independent hotel group, number 914 on its annual ranking of the 5,000 fastest-growing private companies in the country. The list is the most comprehensive look at the most important segment of the economy – America’s independent-minded entrepreneurs. Taken as a whole, these companies represent aggregate revenue of $185 Billion.
With a three year sales growth of 395%, Magnuson Hotels also ranked number 92 in the top 100 business services companies. Magnuson Hotels joins past honorees including Microsoft, Oracle, Timberland, Morningstar, Jamba Juice, and Domino’s Pizza.
For decades, hotel owners needing access to brand marketing, travel agents and worldwide reservation systems had to go through expensive hotel chains like Best Western, Holiday Inn, and Ramada. That all began to change, when Magnuson Hotels was founded in Spokane, WA in 2002 by Thomas and Melissa Magnuson as a low cost franchise alternative.
Magnuson Hotels is distinguished with a personal approach to service and a fee structure based upon reservations delivered without traditional high brand royalty fees and long term contracts.
In only six years, Magnuson Hotels headquartered in Spokane, WA, has become the world’s largest independent hotel group. Magnuson Hotels, which has signed 400 new hotel affiliate agreements within the last 24 months, is quickly nearing the 1000 hotel mark.
Since 2002, Magnuson Hotels has added more affiliate hotels with its low cost franchise alternative than 8 out of the top 10 branded hotel chains combined including Best Western, Days Inn, Super 8 and Ramada. Magnuson Hotels’ current combined affiliate base represents aggregate assets in excess of $4.5 billion.
“This recognition is a true validation of Magnuson Hotels’ as the successful alternative to the established hotel industry franchise system,” stated Thomas R. Magnuson, company CEO/Principal.
“We sincerely thank our employees, who have joined with us in this quest to redefine the hotel industry with a fair owner-based system. And without the faith and success of several hundred hotel owners across the US and Canada, we would not exist,” added Magnuson. “Whether your name is Jinneman, Bhikha, Patel, Kelley or Chang-if you are a motel/hotel owner out there in America battling to survive, we raise this flag for you.”
Complete results of the Inc. 5000, including company profiles and a list of the fastest-growing companies that can be sorted by industry and region can be found at www.inc5000.com.
About Magnuson Hotels, the fastest growing hotel chain in history.
In only seven years, Magnuson Hotels headquartered in Spokane, WA has become the world’s largest independent hotel group, representing nearly 1500 hotels and a combined affiliate base with assets in excess of $5.5 Billion. One of the top 10 global hotel chains, Magnuson Hotels was the #1 Hotel Company of Inc. Magazine’s 2009 annual ranking of the 5,000 fastest growing privately owned U.S. companies. With a four year reservation sales growth of 595%, Magnuson Hotels is listed in the top 100 U.S. business services companies.