Management companies: We’ve been ranking them since 1993
The year was 1993, and Hotel Business, which was launched in 1992, debuted its first Management Company listing. Billed as the “Top 100 Management Companies,” Hotel Business, in its inaugural survey, reported that management companies “are optimistic about how they’ll fare in 1993, and project across-the-board increases in revenues and portfolio size.” Moreover, the firms in the Top 100, according to the author, seemed “confident” amid “the rash of consolidations and mergers” that had taken place, and thought they’d “emerge even stronger than before.”
At the end of 1992, Interstate Hotel Corp. was the revenue leader (see chart, right), posting gross annual revenue of $575 million, which was up 16.2% from the previous year.
And while our list has grown to more than 100 now, and our presentation of the data has changed a bit, some things have stayed the same: Mainly, Interstate, after 24 years of charts, has always ranked number one, growing from nearly $6 million 25 years ago to more than $3.2 billion today.