Preferred Hotels & Resorts generates US$1.1bn in room revenue in 2016
Preferred Hotels & Resorts generated US $1.11 billion in reservations revenue on behalf of its member properties worldwide in 2016, according to the company’s annual results.
At the same time the provider of sales, marketing, and distribution services to independent luxury hotels welcomed 82 new properties and enriched 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 Preferred Hotels president 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.”
A major driver behind the success Preferred Hotels & Resorts achieved was iPrefer, which was revised in February 2016 to feature a simplified two-tier structure and enhanced benefits.
This strategic revision fuelled stronger loyalty for the brand and participating independent hotels, producing a 57 per cent increase in enrolments, a 24 per cent increase in stays, and a 23 per cent increase in room revenue generated through iPrefer bookings, compared to 2015 activity.
To date, more than 1.8 million travellers have enrolled in iPrefer.
Offering consumers even more destinations to experience while earning or redeeming their iPrefer points, 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 – by embarking on new relationships with individual properties and growing alliances with premier hospitality groups.