Global sales, marketing, and distribution provider Preferred Hotel Group™ has just released their first quarter 2014 revenue results. According to the report the group generated a 19 percent increase in reservations revenue for member hotels compared to last year’s figures. Other key findings of the report show increases in enrollments, spending, and repeat stays via the iPrefer guest loyalty program, and other initiatives. Preferred also added 29 new hotels to their stable of luxury stays worldwide.
Touting the iPrefer program, which proved a strong driver for bottom line profits, the company claimed a 52 percent increase in enrollment, and a 120 percent increase in active membership in the program. As for the overall revenue picture, Lindsey Ueberroth (top left), President and CEO, offered this:
“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.”
Since August 15, iPrefer reservations have shown an average stay value of $705, with the average stay value reaching $942 foriPrefer bookings at properties within the company’s Preferred Hotels & Resorts portfolio. Ueberroth elaborated further:
“The to-date performance results for iPrefer are impressive. 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 ofiPrefer shows our ability to not only conceptualize innovative programs but also predict industry trends.”
Also in this news, 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).
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