Preferred Hotel Group Announces First Quarter Growth
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Preferred Hotel Group Announces First Quarter Growth
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Category: Worldwide - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2012-05-16
Company expands its global reach; Increase in Summer Travel bookings
Preferred Hotel Group, a global provider of sales, marketing and distribution services to independent hotels, has seen positive growth in 2012 with the addition of 22 new hotels during the first quarter, including key gains in new markets such as Russia, Iraq, and the Maldives. The company also continues to see a higher level of reservations via its distribution channels, including an increase of 24 percent year-to-date, and an increase in reservation revenue of 31 percent in comparison to the first quarter last year.
“Preferred had a strong first quarter. We are pleased to see new member growth across all our brands and our continued expansion into key new markets,” said Lindsey Ueberroth, President, Preferred Hotel Group. “Looking ahead, our reservations data is showing signs that summer travel is off to a great start, with June bookings already 20 percent higher than this time last year.”
While the company’s Preferred Hotels & Resorts brand witnessed the most significant growth this quarter with eight new members, each brand and region grew steadily and includes notable new members such as The Little Nell (Aspen, Colorado, USA), a member of Preferred Boutique; Trump International Hotel & Tower Toronto (Toronto, Ontario, Canada), a member of Preferred Hotels & Resorts; La Misión Hotel Boutique (Asunción, Paraguay) and Dusit Thani Maldives
(Baa Atoll, Maldives) members of Preferred Boutique; The Alex, New York (New York City, New York, USA), member of Summit Hotels & Resorts; and The Seven Hotel (Paris, France) and The Toy Hotel, Chandigarh (Punjab, India), both members of Sterling Design.
During the first quarter of 2012, Preferred Hotel Group entered the flexible-stay market with a new brand – Summit Serviced Residences. These impeccably furnished luxury serviced apartments provide business travelers on temporary assignment, relocating executives, and family travelers exceptional services and the comforts of home. The Summit Serviced Residences collection includes properties from AKA, a leader in the luxury long-stay market, with locations in New York City, Philadelphia, Washington, D.C., and Arlington Virginia. Preferred expects to grow Summit Serviced Residences internationally and will target key cites in Europe, India, and Asia, where the collection already includes its inaugural partner, 8 on Claymore Serviced Residences, in Singapore.
About Preferred Hotel Group
With a global reach extending into more than 85 countries, Preferred Hotel Group represents more than 650 of the finest hotels, resorts, and serviced residences in the world. Preferred Hotel Group’s brands include Preferred Hotels & Resorts, Preferred Boutique, Summit Hotels & Resorts, Sterling Hotels, Sterling Design, and Summit Serviced Residences. Travelers gain valuable benefits through branded programs that include Preferred Residences, Preferred Golf , I Prefer Guest Benefit Program, and Preferred Family, a collection of hotels and resorts certified to provide a rich experience for travelers of all ages.
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