INC Magazine ranks Magnuson #1 Hotel Company of 5000 Fastest Growing Private Companies.
August 31, 2010
NEW YORK, Aug. 31 — Inc. Magazine today ranked franchise-alternative Magnuson Hotels, the world’s largest independent hotel group, the number 1 hotel company on its exclusive annual ranking of America’s 5,000 fastest-growing private companies.
The 29th annual Inc. 5000, an exclusive ranking of the nation’s fastest-growing private companies also ranked Magnuson Hotels seventh place in the travel industry as measured by three year growth, up two places from last year.
The Inc. Magazine 5000 listing has included world leaders such as Microsoft, Morningstar, Domino’s Pizza, Zappos, Intuit, GoDaddy, Zipcar, Timberland, Jamba Juice, Clif Bar, American Apparel and Oracle.
“Fast growth at any time is a big achievement; fast growth during the past few years is just short of miraculous,” said Inc. editor Jane Berentson. “The Inc. 5000 consists of these just-short-of miraculous companies, the ones that through ingenuity and ambition have increased revenue, hired employees, and grown fast in difficult economic times.”
Driving new affiliate growth is the company’s highly successful launch this year of low cost independent hotel services in the UK as well as consistent above-market performance for North American hotel owners from its massive global reservation system.
Magnuson Hotels reports a 16% increase in US same-hotel reservation revenue year to date 2010 vs. 2009, even though total US hotel occupancy continues to stagnate at 10% below historic levels. While UK hotel occupancy has fallen for three years in a row, the first wave of 50 Magnuson Independents is already reporting rising revenues, including average room rates 9.55% above the comparable national set.
Already the fastest growing hotel chain in history, Magnuson Hotels represents a combined affiliate base with assets in excess of $5.5 Billion, and projects reaching the 2000 hotel mark by year-end 2010.
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.