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.

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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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The company experienced an 0.8 percent decline in revenue per available room in constant currency and a 1.9 percent decline at actual exchange rates.

The two hotels, totaling 153 rooms, bring the company to eight open locations.