CHICAGO – February 9, 2015 – Preferred Hotel Group™, a global provider of sales, marketing, and distribution services to independent hotels, today announced its 2014 year-end results. Last year, the company generated $882 million in reservations revenue on behalf of its member hotels and welcomed 108 new properties. Throughout the 12-month period, Preferred Hotel Group further established its authority as an progressive brand by increasing conversion through its brand websites, driving strong results through its iPrefer guest loyalty program, and forming strategic partnerships with small hotel groups in key markets.
“I’m proud that we successfully executed on our aggressive goals for 2014 through our investment in the time and resources that were necessary to drive strategic programs and facilitate key partnerships,“ said President & CEO Lindsey Ueberroth. “We have exciting plans for our company’s growth in the year ahead, and all signs are pointing to this being an incredibly strong year for our company and our partner hotels.”
Highlights of the company’s accomplishments include:
• Success Through Conversion: In 2014, Preferred Hotel Group placed a strong focus on increasing its conversion rate through new strategies and tactics within its brand websites, which included various enhancements, improved offers pages, and a streamlined experience for the user in the booking engine. Compared to 2013, the company’s booking conversion rate was up 11% and, combined with more visitors viewing the websites, the company achieved a 26% increase in bookings and a 30% increase in reservations revenue produced on behalf of its member hotels.
• Points Matter: A major driver of the company’s success in 2014 was the 18-month-old points-based iPrefer guest loyalty program, which now features 550 hotels and resorts in 75 countries. In 2014, iPrefer reservations had an average stay value of $820, and average monthly new membership enrollments increased by 74%, compared to average monthly member enrollments in 2013. Data indicated that 72% of hotel stay revenue was generated by iPrefer members who had enrolled at other participating hotels, proving the program’s ability to build long-term loyalty to the Preferred Hotel Group family of brands. In December, the new iPrefer.com debuted with a responsive design, providing a seamless on-site experience regardless of the user’s device.
• Portfolio Enhancement Through Strategic Partnerships: In 2014, Preferred Hotel Group established new partnerships and strengthened existing alliances with premier hospitality groups. An agreement with Keppel Land Hospitality Management, which was finalized in January 2014, brought five new hotels across Myanmar, Vietnam, China, and Indonesia into the brand portfolio. In September 2014, Preferred Hotel Group was tapped to serve as the brand partner for the launch of NH Hotel Group’s new NH Collection, which included immediate representation of 14 hotels across Spain, Italy, Mexico, and Argentina, with a promise of additional locations to be announced early this year. In December, Starhotels expanded its partnership with Preferred Hotel Group by adding its two London hotels – The Gore and The Pelham – to the portfolio and signing renewals for its hotels that had existing representation within the company’s family of brands – Castille Paris, The Michelangelo (New York), Rosa Grand (Milan), Savoia Excelsior Palace (Trieste), and Splendid Venice.
For more information on Preferred Hotel Group, its member hotels, programs, products, and services, visit www.PreferredHotelGroup.com.
About Preferred Hotel Group™
Preferred Hotel Group represents more than 650 of the finest hotels, resorts, and serviced residences in the world. Preferred Hotel Group’s brands include Preferred Hotels® & Resorts, Summit Hotels & Resorts™, Sterling Hotels™, Summit Serviced Residences™, Sterling Design, and Preferred Boutique™. Travelers gain valuable benefits through branded programs iPrefer™, Preferred Family, Preferred Pride, Preferred Golf™, and Preferred Residences™. For more information, visit www.PreferredHotelGroup.com and follow the brand on Facebook and Twitter.
MEDIA CONTACTS:
Caroline Michaud
Vice President, Corporate Communications & Public Relations
Tel: +1 312 542 9218
cmichaud@preferredhotelgroup.com
For high resolution imagery of member hotels, please visit the Preferred Hotel Group Image Library at www.PreferredHotelGroupImages.com.