Preferred Hotels and Resorts reports 15% increase in YOY revenue

Preferred Hotels and Resorts reports 15% increase in YOY revenue

Preferred Hotels & Resorts has announced a 15% year-on-year increase in reservations revenue in its 2016 end-of-year results.

The global provider of sales, marketing, and distribution services to independent luxury hotels, generated $1.11 billion in reservations revenue on behalf of its member properties worldwide.

It also welcomed 82 new properties and updated its points-based iPrefer hotel rewards programme.

“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 and chief executive 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.”

Preferred Hotels & Resorts said its iPrefer programme was a “major driver” towards its success. It was revised in February 2016 to feature a simplified two-tier structure which the firms says fuelled stronger loyalty for the brand and participating independent hotels and produced a 57% increase in enrolments, a 24% increase in stays, and a 23% increase in room revenue generated through iPrefer bookings compared to 2015.

To date, more than 1.8 million travellers have enrolled in iPrefer.

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. The company also finalised agreements to represent 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.

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