Preferred Hotel Group Projects Strong
|
Preferred Hotel Group Projects Strong
|
Category: North America & West Indies / Carribean islands
This is a press release selected by our editorial committee and published online for free on 2008-02-14
New Members, Expanded Team, and Robust Sales Expected in 2008
Celebrating 40 years of excellence in 2008, Preferred Hotel Group is emerging as the world's most sought-after collection of hotels and resorts. The company grew significantly in 2007, welcoming more than 75 properties to its four brands worldwide. The acquisition of an exciting fifth brand, Historic Hotels of America, in October added another 200 members bringing the total Preferred Hotel Group collection to over 600 members. Growth also came from exclusive new strategic partnerships including Preferred Residences with Interval International and Preferred Golf Club with American Express®.
"Asia Pacific is a region of great importance to Preferred Hotel Group. We are committed to driving increased sales to our hotels and growing membership in all brands," said John Ueberroth, Chairman and CEO, Preferred Hotel Group. "We believe our combination of innovative thinking and strategic global growth will make 2008 a defining year for us in the region."
Double Digit Revenue Growth in Asia Pacific
Member hotels in Asia Pacific increased from 30 to 45 last year and the regional portfolio is projected to reach 70 hotels by the end of 2008. Preferred Hotel Group's proprietary distribution system and web booking engine delivered incredible double-digit growth in Asia Pacific of 72% in total room nights and 82% in room revenue, while the overall revenue in the region exceeded 2006's record level by a phenomenal 42% increase.
New member hotels were concentrated in the robust economies of China and India, as well as the bustling city of Tokyo. To promote continued regional growth, Preferred Hotel Group will expand the management team in key Asia Pacific locations of Hong Kong, Singapore and Sydney. The addition of seasoned executives will ensure that member hotels continue to benefit from the organization's expert Revenue Management, Sales and Marketing professionals.
"With most Asian cities developing fast, hotel owners rely less on major chains for their international business and have more confidence to become independent. We have seen a strong trend in hotel owners completing their management contracts with chains and approaching us as partners," commented Ananya Narayan, Area Managing Director of Preferred Hotel Group, Asia Pacific.
|
|
