Magnuson Hotels Worldwide reports today year on year revenue growth of 65% across the Magnuson branded portfolio. The company also reports a very significant 61% increase in occupancy, and an 8% increase in average daily rate.
In addition, Magnuson Hotels saw an escalation in RevPar, up 74% in the 12 month period.
The branded portfolio includes three brands; Magnuson Grand Hotels, MagnusonHotels and M Star Hotels, serving the upper midscale, midscale and economy segments respectively.
Thomas Magnuson, CEO, cited lower gas prices combined with an increased consumer awareness of Magnuson Hotels’ three brands as the reason for the success.
“Despite the IMF stating global outlook should be cooling in 2015 and into 2016, the US market still has many factors that are driving record occupancy and rate growth. These include pent-up demand, low gas prices, increased bank lending, low unemployment, and a robust housing market. We are optimistic for the remainder of 2015,” stated Magnuson.
During this time period significant additions to the Magnuson family have included Magnuson Hotel Historic St. Augustine, Magnuson Hotel Burleson, Magnuson Hotel Howell and Magnuson Hotel Ocean Springs, located in Florida, Texas, Michigan and Mississippi respectively.
Original article published at: Hospitality Net