Magnuson Worldwide reports double digit revenue, occupancy growth

Magnuson Hotels Worldwide reported average revenue growth of 31 percent across the Magnuson portfolio year-on-year from Q1 2014 to Q1 2015. The company also reported a 36-percent increase in occupancy, and a 10-percent increase in average daily rate.

Magnuson Hotels saw another increase in RevPar, up 48 percent in the same year period, with the industry average remaining at 8.05 percent.

Thomas Magnuson, CEO, cited lower gas prices combined with an increased consumer awareness of Magnuson Hotels' three brands as the reason for the success.

Virtual Roundtable

Post COVID-19: The New Guest Experience

Join Hotel Management’s Elaine Simon for our latest roundtable—Post COVID-19: The New Guest Experience. The experts on the panel will share how to inspire guest confidence that hotels are safe and clean and how to win back guest business.

During this time period significant additions to the Magnuson family were Magnuson Hotel Clearwater Central, Magnuson Hotel Papago Inn and Magnuson Hotel Fossil Creek, located in Florida, Arizona and Texas respectively.

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This roundup features details on 15 new properties operating in the United States.

While the numbers still were down, U.S. hotels saw the declines ease a bit as the first full week of summer got underway.

The Last Hotel opened last year following a $54 million, 18-month restoration and renovation of the city’s International Shoe Company building.