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Preferred Hotel Group Experiences First Quarter Growth

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Published on 16/05/12 - Updated on 17/03/22

Company expands its global reach. Increase in Summer Travel bookings (Trump International Hotel & Tower Toronto pictured)

Preferred Hotel Group, a global provider of sales, marketing and distribution services to independent hotels, has seen positive growth in 2012 with the addition of 22 new hotels during the first quarter, including key gains in new markets such as Russia, Iraq, and the Maldives. The company also continues to see a higher level of reservations via its distribution channels, including an increase of 24 percent year-to-date, and an increase in reservation revenue of 31 percent in comparison to the first quarter last year. “Preferred had a strong first quarter. We are pleased to see new member growth across all our brands and our continued expansion into key new markets,” said Lindsey Ueberroth, President, Preferred Hotel Group. “Looking ahead, our reservations data is showing signs that summer travel is off to a great start, with June bookings already 20 percent higher than this time last year.”During the first quarter of 2012, Preferred Hotel Group entered the flexible-stay market with a new brand – Summit Serviced Residences. The Summit Serviced Residences collection includes properties from AKA. Preferred expects to grow Summit Serviced Residences internationally and will target key cites in Europe, India, and Asia, where the collection already includes its inaugural partner, 8 on Claymore Serviced Residences, in Singapore.

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