INC Magazine ranks Magnuson #1 Hotel Company of 5000 Fastest Growing Private Companies
NEW YORK -- 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 America’s 5,000 fastest-growing private companies.
The Inc. Magazine 5000 listing has included world leaders such as Microsoft, Morningstar, Domino’s Pizza, Zappos, Intuit, GoDaddy, Zipcar, Timberland, Jamba Juice, Clif Bar, American Apparel and Oracle.
"Fast growth at any time is a big achievement; fast growth during the past few years is just short of miraculous," said Inc. editor Jane Berentson. "The Inc. 5000 consists of these just-short-of miraculous companies, the ones that through ingenuity and ambition have increased revenue, hired employees, and grown fast in difficult economic times."
Driving new affiliate growth is the company’s highly successful launch this year of low cost independent hotel services in the UK as well as consistent above-market performance for North American 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 50 Magnuson Independents is already reporting rising revenues, including average room rates 9.55% above the comparable national set.Already the fastest growing hotel chain in history, Magnuson Hotels represents a combined affiliate base with assets in excess of $5.5 Billion, and projects reaching the 2000 hotel mark by year-end 2010.