Preferred Hotel Group™, a global provider of sales, marketing, and distribution services to independent hotels, today announced third quarter results. Over the past three months, the company generated year-to-date increases of 26% in reservation revenue, 21% in room nights, and 4% in ADR on behalf of its worldwide portfolio, compared to the same time period last year. In addition, the company welcomed 42 new hotels, totaling 95 new properties thus far for 2013. Also during the third quarter, Preferred Hotel Group made a monumental impact on the hotel industry with the launch of iPrefer, the first global points-based guest loyalty program available to independent hotels.
“It was an exciting quarter for Preferred Hotel Group, and we expect this momentum to continue,” said Lindsey Ueberroth, President of Preferred Hotel Group. “To-date bookings for our hotels for the months of November and December are already 18% and 29% higher, respectively, than this time last year.”
The company’s successes in the third quarter and continuous growth campaign over the past several years support findings of a recent study by HVS. Using Smith Travel Research data from hundreds of Preferred Hotel Group member hotels and their peer properties, the HVS study reported that Preferred Hotel Group’s cost to hotels is less than 3.7% of total gross rooms revenue. It also revealed that the company’s member hotels achieved an average RevPAR index of 104.5% in 2012, showcasing the strength of Preferred Hotel Group’s global infrastructure. Read the study here.
“The HVS study demonstrates that Preferred Hotel Group is the best value relationship in the industry,” said Ueberroth. “We are seeing more owners pursuing the independent model, and I’m pleased that Preferred Hotel Group has proven to be an attractive partner of choice to support these brand decisions, especially now that hotels can tap into the undeniable benefits of our turn-key points-based loyalty program.”
Over the past 12 months, six hotels have partnered with Preferred Hotel Group after declaring their independence from a hard brand, with three conversions occurring during the third quarter: Eau Palm Beach Resort & Spa (Manalapan, Florida), a member of Preferred Hotels & Resorts; Pier 2620 Hotel Fisherman’s Wharf (San Francisco, California), a member of Sterling Hotels; and International Plaza Hotel (Toronto, Canada), a member of Sterling Hotels.
Other notable additions to Preferred Hotel Group over the past three months include:
- CVK Park Bosphorus (Istanbul, Turkey), a member of Preferred Hotels & Resorts
- Casa de Campo (La Romana, Dominican Republic), a member of Preferred Hotels & Resorts
- Buddha Bar Hotel Paris (France), a member of Preferred Boutique
- The Talbott Hotel (Chicago, Illinois), a member of Preferred Boutique
- Hotel Inglaterra (Seville, Spain), a member of Summit Hotels & Resorts
- Kyoto Tokyu Hotel (Kyoto, Japan), a member of Summit Hotels & Resorts
- The Dhow Palace (Dubai), a member of Sterling Hotels
- Naumi Liora Hotel Singapore (Singapore), a member of Sterling Design
- 93 Luxury Suites & Residences (Bogota, Colombia), a member of Summit Serviced Residences
For more information on Preferred Hotel Group, visit www.PreferredHotelGroup.com.
About Preferred Hotel Group™
Preferred Hotel Group represents 650 of the finest hotels, resorts, and serviced residences in the world. Preferred Hotel Group’s brands include Preferred Hotels® & Resorts, Summit Hotels & Resorts™, Sterling Hotels™, Summit Serviced Residences™, Sterling Design, and Preferred Boutique™. Travelers gain valuable benefits through branded programs iPrefer™, Preferred Family, Preferred Pride, Preferred Golf™, and Preferred Residences™. For more information, visit www.PreferredHotelGroup.com.