Magnuson signs 150 hotels in 90 days.
August 10, 2010
SPOKANE, WA– Magnuson Hotels, the world’s largest independent hotel group, announced today signing a record 150 hotels in a 90-day period from May-August 2010.
Already the fastest growing hotel chain in history, Magnuson Hotels projects reaching the 2000 hotel mark by year-end 2010. Driving new affiliate growth is the company’s highly successful launch this year of independent hotel services in the UK http://magnusonhotels.co.uk/hotels as well as consistent above-market performance for 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 45 Magnuson Independents is already reporting rising revenues, including average room rates 9.55% above the comparable national set.
Despite economist predictions of further erosion, Magnuson Hotels expects to finish 2010 even stronger, forecasting a 46% increase in revenue for remainder of 2010 versus same period 2009. Magnuson additionally reports a total 2010 over 2008-revenue growth of 73%.
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.