Magnuson Hotels reports 65 percent year-to-date reservation increase
April 13, 2010
April 13, 2010 SPOKANE, WA—Magnuson Hotels, the world’s largest independent hotel group, announced today a 65 percent increase in hotel reservations year-to-date 2010 versus 2009 for nearly 1,500 hotels in North America and Europe.
While U.S. hotel occupancy has fallen nearly 10 percent below the 50-year average of 64 percent, Magnuson Hotels reports results that outperform benchmarks in all North American market segments.
North American overall same store hotel reservation revenues are led by an increase of 39.2 percent in urban markets and 26.8 percent in resorts markets. Same store revenues for interstate and small town markets report a 13 percent increase YTD over 2009.
Driving the above-market performance are Magnuson Hotels’ continued expansion of its worldwide reservation system and preferred chain placement as a globally recognized hotel chain to over 650,000 worldwide travel agents through Amadeus, Sabre, Worldspan, Apollo and Galileo.
Additional reservation revenue for hotel affiliates has been sourced from increased corporate, government, military, AAA and AARP business segments. The addition of new sources of business has further strengthened Magnuson Hotels’ market position with less dependence on economy-sensitive leisure travel.
“Hotel owners need to know that profitability is completely possible even though U.S. effective unemployment is over 15 percent and new hotel supply is continuing to increase,” stated Thomas R. Magnuson company CEO. “Our year-end forecast for Magnuson Hotels affiliates calls for continued increases in local market share with the addition of more distribution channels and aggressive local and national promotions.”
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.