Magnuson Hotels CEO Tom Magnuson will step down after 21 years leading his hotel company.
The company announced Wednesday that Adnan Malik, Magnuson Hotels' chief revenue officer, was immediately appointed as the new CEO, according to a news release.
Tom Magnuson co-founded the company along with his wife, Melissa, in 2003. Melissa will continue to serve as the company’s chairman. Magnuson Hotels has headquarters in Spokane, Washington, and London.
“When we first started, my desk was in my 5-year-old son's bedroom, next to his bunk bed. We had 12 hotels; they were friends and family. We built a technology platform that was a central reservations system — the first company to bring that technology to independent hotels," Tom Magnuson said in an interview with Hotel News Now during the 2022 Asian American Hotel Owners Association conference.
Magnuson Hotels now has more than 2,000 hotels across North America and Europe in its portfolio through its Magnuson Hotels, Magnuson Grand and Magnuson Independent Group brands.
"It has been an incredible journey leading Magnuson Hotels for the past 21 years,” Tom Magnuson said in the news release. “I am immensely proud of what we've achieved together as a team. As I step down from the CEO position, I'm filled with gratitude for the experiences, challenges, and growth we've embraced, and for the people I have met along this path. I am confident in the talented individuals who will continue to drive Magnuson Hotels towards even greater success."
Malik was promoted to chief revenue officer in May 2023. He joined the company in 2018 as portfolio revenue manager after working for Guoman Hotels, Wyndham Grand Chelsea Harbour and the Doyle Collection, among others.
In the news release, Malik praised Tom Magnuson’s leadership and said he is honored and excited to step into his new role.
“We will continue our commitment to deliver results for hotel owners and exceed expectations of hotel guests," he said.
Everyone takes pride in what the company achieved under Tom Magnuson’s leadership, Melissa Magnuson said, adding that they are confident in Malik’s ability to lead toward continued growth and success.