The Leading Hotels of the World, Ltd. Attracts Record Number of Applicants in 2007
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The Leading Hotels of the World, Ltd. Attracts Record Number of Applicants in 2007
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Category: Worldwide
This is a press release selected by our editorial committee and published online for free on 2007-10-25
Luxury leader exceeds in applications and production
The Leading Hotels of the World, Ltd. has attracted an unprecedented 1,300 inquiries -- in just the first nine months of 2007 -- from hotels seeking membership in the prestigious organization. Of that record number, 90 were inspected and 41 accepted thus far.
While this level of interest has far exceeded levels seen in all previous years, it really is not surprising, because Leading Hotels continues to deliver steadily increasing business -- in revenue and reservations -- for its members.
Sustaining a solid trend through the third quarter of 2007, the company had generated hotel revenue at an all-time high of USD 494 million. Internet sales also are strong, with its online division -- Leading Interactive Reservations -- producing hotel revenue of USD 87 million. In the meetings and groups segment, Leading Group Sales produced USD 25.7 million thus far for the year.
Average daily rate is also up across all three sectors over the previous year. ADR for The Leading Hotels of the World, Ltd. was USD 460 at the end of the third quarter, up USD 54 over last year. Through Leading Interactive Reservations, it has risen to USD 496, an increase of USD 61 over 2006. Leading Group Sales, posted a USD 41 increase in ADR, ending the quarter at USD 381.
At the same time, roomnight sales were up to 1,074,237, a 1.2% increase over the third quarter of 2006. Impressively, roomnights through Leading Interactive Reservations surged 11.7%, reaching 175,253. Leading Group Sales recorded an 8.8% increase over 2006, at 67,251.
Company president and chief executive officer Paul M. McManus, commented, "The increased surge in application for membership in Leading Hotels highlights the fact that hoteliers recognize just how relevant our company is in today's heatedly competitive atmosphere. In fact, we are now being asked to play a key role in the foundations of projects in development, and we are frequently being approached by developers seeking advice and services including licensing agreements, development consultation and even actual investment."
He concluded by saying, "We are encouraged by the continuing vibrancy in luxury travel, and we remain committed to ensuring that our member hotels are always best positioned to sustain the advantage in their markets, through innovative customer-directed initiatives."
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