Magnuson Hotels has added Wafer 450 to its Independent Collection portfolio.
The 31-room hotel, located in Santa Clara is the fourth property added to Magnuson Hotels by Stay Cal Hospitality since 2020, and the 19th hotel the group represents in California.
The hotel is located less than three miles from San Jose International Airport and Levi’s Stadium. It is near corporate offices of leading semiconductor companies like Intel, NVIDIA, AMD and global technology brands Google, Facebook, Netflix and Salesforce. Other nearly attractions include California’s Great America, the Intel Museum and Mission Santa Clara De Asís, all within a five-mile radius of the hotel.
“We are proud to be working with Hiten Suraj and his team at Stay Cal Hospitality toward a long-term, sustainable growth path,” said Thomas Magnuson, CEO, Magnuson Hotels.
Every aspect of the hotel design reflects a contribution of the semiconductor industry toward the advancement of technology globally, according to the company. The hotel derives its name from the latest technology used in the semiconductor industry—a 450mm wafer—which was developed in Silicon Valley.
“We are happy to have Magnuson Hotels represent and market Wafer 450,” said Suraj, owner, Stay Cal Hospitality. “In our experience working with the team in the past, we have been impressed by their understanding of the owner’s perspective and their creative revenue strategies. We are confident that this partnership will only grow stronger in the time to come.”
The Magnuson Hotels Independent Collection has now seen an average RevPAR growth of 29.8% per year over the past five years, compared to the U.S. STR average of 1.7%.