Magnuson Reports 25% Growth in Branded Properties
Thursday January 30th, 2014 - 10:05AM B
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SPOKANE, WA/LONDON—Magnuson Hotels reports a year-over-year brand growth of 25% for its three non-franchise hotel brands, Magnuson Grand Hotels, Magnuson Hotels and M Star Hotels.
The three brands now encompass 30 U.S. states and two Canadian provinces with 148 hotels.
Magnuson reports year-over-year occupancy growth of 22%, same-store RevPAR growth of 19% and an increase in www.magnusonhotels.com bookings to more than 18% of total bookings.
Parent company Magnuson Worldwide credits the addition of new hotels to expanded consumer brand recognition and increased booking volumes from its proprietary worldwide reservation system and free global distribution platform Global Hotel Exchange.
Magnuson Worldwide CEO Thomas Magnuson stated, “The data we monitor indicates a world of slow-to-little growth, with 2013 showing a 2% global average rate increase offset by a 1.5% inflation rate. While hotel owners can’t rely on growth anymore through increased rates or demand, they can find profits inside via a new era of low cost operating platforms.”
Tags: Magnuson Hotels • Magnus Grand Hotels • M Star Hotels • Magnuson Worldwide • Hospitality • Brands •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.