Magna was co-founded by Robert A. Indeglia, Jr. in July 1998, and is a privately held hotel real estate investment firm that is dedicated exclusively to hospitality investment, development and management. Magna is based in Warwick, Rhode Island.

Magna and its affiliates currently have over 25 corporate professionals specializing in every discipline, including investment, finance, legal, hotel operations, sales and marketing, hotel accounting, human resources, engineering, interior design and construction.

Magna currently owns and/or operates 19 hotels with over 3,800 rooms and over 1,200 employees. Magna also has under active development 5 hotels with an anticipated 700 additional rooms.

Throughout its history, Magna has owned or operated hotels in virtually every region of the United States, as well as Canada. Today, the bulk of Magna's portfolio is located on the East Coast of the United States.

Magna owns, operates, and/or is approved to operate national franchise brands with Hilton, Marriott, Starwood, Intercontinental Hotel Group, Hyatt and Choice Hotels. Magna currently owns and/or operates premiere brands including Hilton, Hilton Garden Inn, Hampton Inn & Suites, Homewood Suites, Doubletree, Marriott, Holiday Inn & Suites, and Holiday Inn Express & Suites, Sheraton and Element, to name a few. Magna also owns and/or operates upscale boutique and independent hotels.

Today, Magna continues to focus on investment opportunities in urban centers and heavy in-fill suburban markets. With over $1 billion in hotel real estate under management and development, Magna has created a premiere hotel portfolio that has consistently produced returns in excess of its investor's expectations, and is poised to continue to grow its portfolio.