(Coral Springs, FL) It’s been said that if an idea is worth having once, it’s worth having twice, and with Vantage Hospitality, twice is always nice when it comes to being recognized on the Inc. 500/5000 List of Fastest Growing Private Companies in the United States.
Vantage Hospitality, parent company of Americas Best Value Inn and The Lexington Collection, is the only hotel company to be included two years in a row on Inc. magazine’s prestigious list. With a three-year growth of more than 170 percent, Vantage was ranked 2092 on the list this year. The reported median revenue for all companies on the Inc. 5000 list was $9.4 million and the median three-year growth was 140 percent.
According to Inc. magazine, the Inc. 5000 is an extension of Inc. magazine’s annual Inc. 500 list. Taken as a whole, these companies represent the backbone of the U.S. economy. “The Inc. 5000 provides the most comprehensive look ever at the most important part of the economy — the entrepreneurial part,” said Inc. 5000 Project Manager Jim Melloan.
[quote]”Entrepreneurial spirit is the one defining component that has allowed Vantage Hospitality to become the 12th largest hotel company in the world in only eight short years,” said Roger Bloss, CEO and Founder, who himself was named 2006 Entrepreneur of the Year by Lodging magazine for his innovative hotel membership model.
“When we started this business, many people tried to discourage us; they told us a new national membership brand would never work,” said Bloss. “However, we didn’t listen, and we certainly didn’t get to where we are today by following the typical franchise rules.”[/quote]
By giving hotel owners a voice and a vote in the brand’s direction; low flat fees; short-term contracts, no liquidated damages, and all the cutting edge resources one would expect from one of the lodging industry’s leader, Vantage has grown its first hotel brand, Americas Best Value Inn, to nearly 800 properties in eight years, making it one of the fastest growing hotel chains in the country for five years in a row.
Vantage’s upper-mid to upscale brand, The Lexington Collection, is the only membership brand available in the three and four diamond segments.
[box type=”tick”]About Vantage Hospitality Group | Vantage Hospitality Group, the parent company of Americas Best Value Inn and The Lexington Collection, is the 12th largest hotel company worldwide, and the only hotel brand to be ranked two years in a row on the Inc. 500/5000 List of Fastest Growing Private Companies. Founded in 1996, the company has grown to include a broad spectrum of hospitality-related ventures. Vantage manages resources in hotel ownership, management, marketing, national brand affiliation and real estate. Vantage’s award-winning membership hotel brand, Americas Best Value Inn, has been recognized by the lodging industry as one of the fastest growing chain five years in a row. In February 2005, Vantage added the global central reservation system, GenaRes, as a strategic partner, and continues to grow with its recent introduction of the upscale hotel chain, The Lexington Collection – the only membership hotel brand in the three and four diamond lodging segments. With many Canadas Best Value Inns currently operating throughout Canada, Vantage will continue to expand that brand while introducing The Lexington Collection to the Canadian lodging market. In 2006, Vantage introduced its membership model to the China hospitality market through its hotel brands, Chinas Best Value Inn and The Lexington Collection
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Methodology | The 2007 Inc. 5000 list measures revenue growth from 2003 through 2006. To qualify, companies had to be U.S.-based and privately held, independent – not subsidiaries or divisions of other companies – as of December 31, 2006, and have had at least $200,000 in revenue in 2003, and $2 million in 2006.[/box]