Preferred Hotels & Resorts Announces 2016 Results
Brand produces 15% YOY increase in reservations revenue, strengthens iPrefer program, and marks first-time presence in five countries across the Middle East and Scandinavia.
Photo Credit : Ritesh Sharma,
Lindsey Ueberroth, President & CEO, Preferred Hotels & Resorts.
PREFERRED HOTELS & Resorts, the world’s largest global provider of sales, marketing, and distribution services to independent luxury hotels, today announced its 2016 year-end results. Last year, continuing the momentum gained in 2015 following its comprehensive global rebranding initiative, the company generated $1.11 billion in reservations revenue on behalf of its member properties worldwide, welcomed 82 new properties, and enriched its points-based iPrefer hotel rewards program.
“Our move to one global brand allowed us to be more nimble and presented fresh, exciting opportunities, so we set out for 2016 with intentions to thoughtfully grow our brand presence and innovate in the areas that would help us most effectively connect our member hotels with their ideal guest,” said President & CEO Lindsey Ueberroth. “Our team’s focus last year not only helped us execute on these goals but also created a strong pipeline to generate immediate results in 2017, which will be a pivotal year as we approach our 50th anniversary.”
A major driver behind the success Preferred Hotels & Resorts achieved was iPrefer, which was revised in February 2016 to feature a simplified two-tier structure and enhanced benefits. This strategic revision fueled stronger loyalty for the brand and participating independent hotels, producing a 57% increase in enrollments, a 24% increase in stays, and a 23% increase in room revenue generated through iPrefer bookings, compared to 2015 activity. To date, more than 1.8 million travelers have enrolled in iPrefer.
Offering consumers even more destinations to experience while earning or redeeming their iPrefer points, last year, Preferred Hotels & Resorts expanded its footprint in 27 countries across the globe – marking first-time presence in Sweden, Norway, Bahrain, Saudi Arabia, and Qatar – by embarking on new relationships with individual properties and growing alliances with premier hospitality groups. Over the course of the year, the company finalized agreements to represent select hotels within the portfolios of new brand partners such as Katara Hospitality’s Murwab Hotel Group, Nordic Hotels & Resorts, Fortune Hotels, Vivienda Hotel Villas, and Rosen Hotels & Resorts, and was tapped to support the newest openings of existing partners such as NH Collection, Montage Hotels & Resorts, Salamander Hotels & Resorts, sbe, Shilla Stay, Pyramid Hotel Group, and Ocean Properties. Other notable properties that joined Preferred Hotels & Resorts in 2016 include Baccarat Hotel New York (Legend), Longemont Shanghai (LVX), Hotel Metropole Genève (Switzerland; Lifestyle), Hotel Bon Voyage Lagos (Nigeria; Connect), and AKA University City (Philadelphia, Pennsylvania; Preferred Residences).
Around The World