Nationwide increase in Magnuson Hotel loan approvals, 24% reservation revenue surge, drive Magnuson Hotels brand hypergrowth.
September 16, 2009
SPOKANE, WA—Magnuson Hotels, the world’s largest independent hotel group, announced today that a nationwide increase in Magnuson Hotel loan approvals and a 24% YTD reservation revenue surge have driven the portfolio to a new era of brand hypergrowth.
Only 2 years after the first multi-tiered hotel brand launch in history, Magnuson Hotels reports that the combined segments of economy, midscale and upper midscale brands and properties in the conversion pipeline represent nearly one-third of its 1000 global affiliates.
“The nationwide acceptance by lenders of Magnuson Hotels’ low-cost franchise brand alternative, combined with local hotel owner successes, proves there is no reason why owners would ever again endure a traditional franchise,” stated company CEO Thomas R. Magnuson.
“Dozens of Magnuson owners have received conventional conversion and renovation financing as lenders realize that Magnuson affiliates are constantly outperforming the US occupancy crash without the burden of non-revenue producing franchise fees. No longer do owners need an expensive franchise for financing, increased average rate, occupancy, or increased walk-up visits.”
Recent additions to the Magnuson Hotels brand portfolio include: Magnuson Grand City Center, Bozeman, MT; Magnuson Grand Madison, Madison, WI; Buccaneer Inn Magnuson Hotel, Morehead City, NC; Northgate Inn Magnuson Hotel, Hattiesburg, MS; Magnuson Hotel Marion, Marion, VA; Blue Ribbon Inn Magnuson Hotel, Sallisaw, OK; WindWater Hotel & Resort Magnuson Hotel, South Padre Island, TX; Brookings Inn Resort Magnuson Hotel, Brookings, OR; Will Rogers Inn Magnuson Hotel, Claremore, OK; Hilltop Inn Magnuson Hotel, Pullman, WA; Sundowner Magnuson Hotel, Forsyth, MT; Countryside Lodge Magnuson Hotel, Berlin, WI; M-Star Hotel Searcy, AR; M-Star Hotel Hayti, MO; M-Star Hotel Wauseon, OH; M-Star Hotel Eau Claire, WI; Virginia House Inn M-Star Hotel, Marion, VA; M-Star Hotel Bedford, PA.
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.