Magnuson signs 150 hotels in 90 days
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.
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 has become the world’s largest independent hotel group, representing nearly 2000 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.