Preferred Hotels & Resorts reveal revenue of $1.35 billion in 2017
Preferred Hotels & Resorts, has announced its 2017 year-end results. In 2017, the company generated $1.35 billion in reservations revenue on behalf of its member properties worldwide, a 22% increase over 2016; welcomed 103 new properties; and enriched its points-based I Prefer hotel rewards program by launching a mobile app and members-only rates.
“Preferred Hotels & Resorts took a thoughtful approach to growth in 2017, focusing on key programs, disciplines, and regions that would be most effective in helping us not only achieve our brand awareness and financial goals but also create strong, seamless momentum as we enter our Golden Anniversary year,” said CEO Lindsey Ueberroth (main picture). “I am incredibly proud of the success we have continued to achieve year after year, especially since our momentous rebranding in 2015, and am confident that there will be many milestones to celebrate in 2018.”
A major driver behind the success Preferred Hotels & Resorts achieved was I Prefer, which was enhanced in April 2017 to create a richer, more personalized experience for loyal guests through the launch of a mobile app and exclusive member rates at select hotels worldwide. These new offerings fueled a strong response for the program overall, producing an 84% increase in stays, more than 50,000 downloads for the I Prefer mobile app, and more than $4.8 million in member rate reservations revenue for participating hotels.
Offering consumers even more destinations to experience while earning or redeeming their I Prefer points, Preferred Hotels & Resorts expanded its worldwide portfolio in 2017 by making great gains in existing destinations such as New York City, Barcelona, Mykonos, Riyadh, Chennai, and Ho Chi Minh City. Last year, the brand also marked first-time presence in key destinations such as Kuala Lumpur, Malaysia, with One World Hotel; Olso, Norway with The Thief; Hamburg, Germany with east Hamburg; and Beirut, Lebanon with Le Bristol. Other notable properties that joined Preferred Hotels & Resorts in 2017 include Primus Hotel Shanghai Hongqiao in China (LVX Collection); Cerulean Tower Tokyu Hotel in Japan (Lifestyle Collection); and the Ambassador Chicago in Illinois (Lifestyle Collection).
For more information on Preferred Hotels & Resorts, its member hotels, programs, products, and services, visit www.PreferredHotels.com.