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Preferred Hotel Group Announces First Quarter Results

April 28, 2014 Financial No Comments Email Email

Preferred Hotel Group™, a global provider of sales, marketing, and distribution services to independent luxury hotels, today announced first quarter results.

Over the past three months, the company generated a 19 percent increase in reservations revenue for its member hotels when compared to the same time period in 2013. In addition, the company released key findings regarding the increases in enrollments, spending, and repeat stays that itsiPrefer guest loyalty program has driven since transitioning to a points-based structure last year. Also during the first quarter, the company welcomed 29 new hotels.

“Last month marked the tenth anniversary of my family taking ownership of Preferred Hotel Group, so we are proud to see strategic growth and other important milestones continuously achieved on behalf of our company and our member hotels,” said Lindsey Ueberroth, President and CEO.

A major factor behind Preferred Hotel Group’s momentum during the first quarter was iPrefer, which, less than eight months since the debut of its points-based structure, has proven its ability to drive strong bottom-line benefits to independent hotels. Compared to pre-launch activity, the program has generated a 52 percent increase in member enrollment and a 120 percent increase in active members (members with at least one stay). In addition, iPrefermembers have spent, on average, $110 more per booking at participating hotels than travelers who are not enrolled in the program. Since August 15, iPrefer reservations have shown an average stay value of $705, with the average stay value reaching $942 for iPrefer bookings at properties within the company’s Preferred Hotels & Resorts portfolio.

“The to-date performance results for iPrefer are impressive,” said Ueberroth. “More and more, travelers are favoring the independent hotel experience, but they still want the perks, specifically points and added recognition through status tiers, that the hard-brand loyalty programs provide. The success of iPrefer shows our ability to not only conceptualize innovative programs but also predict industry trends.”

Supporting the company’s goals for strategic expansion that Ueberroth reinforced upon her promotion to CEO in February, Preferred Hotel Group signed new partnership agreements with hotels and resorts across 15 countries during the first quarter. Notable additions include CasaSur Bellini Hotel (Buenos Aires, Argentina); Crystal Energy Resort(Crete, Greece); Farmhouse Inn (California, USA); Gorrian Hotel Istanbul (Istanbul, Turkey); Himalayas Qingdao Hotel (Qingdao, China); Himalayas Nantong (Nantong, China); Lower Slaughter Manor (England, UK); Shilla Stay Dongtan (Hwaseong City, South Korea); and SLS Hotel & Casino Las Vegas (Nevada, USA). A full listing of all hotels that went live and bookable on the company’s brand websites during the first three months of the year can be accessed here.

For more information on Preferred Hotel Group, please visit www.PreferredHotelGroup.com.

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