Inc. Magazine ranks Magnuson Hotels #1 Hotel Company of America’s 5,000 Fastest-Growing Private Companies.
August 19, 2009
NEW YORK, August 18, 2009 – 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 the 5,000 fastest-growing private companies in the country.
The 2009 Inc. 5000, unveiled today on Inc.com, serves as a unique report card on the U.S. economy. Despite the ongoing recession, aggregate revenue among the companies on the list actually increased to $214 billion, up $29 billion from last year, with a median three-year growth rate of 126 percent. The entrepreneurs of the Inc. 5000 are responsible for creating more than 1 million jobs since their founding.
With a four- year sales growth of 595%, Magnuson Hotels also ranked number 9 in total travel industries and in the top 100 Inc. 5000 companies by revenue, gross dollars of growth, and companies that are women-owned. Magnuson Hotels joins past honorees including Microsoft, Oracle, Timberland, Morningstar, Jamba Juice, Domino’s Pizza, Vizio and internet giant GoDaddy.
“Magnuson Hotels is successful only if our owners make money,” stated Thomas R. Magnuson, company CEO/Principal. “While traditional chains such as Holiday Inn or Best Western receive brand fees regardless of performance, we don’t get paid unless we generate reservations for our owners. Year to date, Magnuson Hotels reservation revenue has climbed 24% against the worst occupancy crash in history.”
“Magnuson Hotels’ recognition as the #1 hotel company of the Inc. 5000 fastest-growing private companies validates the shift from an industry controlled by high cost franchise chains to one powered by hotel owners,” stated Melissa C. Magnuson, company CEO/Principal.
“Magnuson Hotels is proud to have pioneered the concept of low cost access for hotel owners to worldwide reservation systems previously controlled by major chains at high prices. We sincerely thank our employees, who have joined with us to provide hotel owners with a fair owner-based system. Without the support and success of several hundred hotel owners across the US and Canada, we would not exist,” added Melissa Magnuson, company CEO/Principal.
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.