Preferred Hotel Group has announced its year-end results. In 2013, the company generated $834 million in revenue on behalf of member hotels, an increase of 14 percent over 2012. It also welcomed 126 new properties.
“I am proud that we successfully executed on every initiative we set out to accomplish in 2013, from the expansion of our global footprint to the introduction of groundbreaking programs,” said President Lindsey Ueberroth. “Preferred Hotel Group is entering 2014 well positioned for continued growth as a preferred partner for independent hotels and resorts worldwide. We are building on the momentum of last year and have many exciting developments in the pipeline.”
Highlights of the company’s accomplishments over the past 12 months include:
- Driving revenue to member hotels: In addition to strong reservations revenue, Preferred Hotel Group produced increases of 17 percent in bookings, 20 percent in room nights, and 6 percent in ADR on behalf of its portfolio in 2013, compared to 2012. Member hotels in Mexico and France saw the greatest increases in ADR, up 16 percent and 15 percent, respectively, over 2012.
- Expanding into new markets: In 2013, the company marked first-time presence of its brands in Vietnam and Myanmar, as well as in emerging cities such as St. Petersburg, Russia, and celebrated great expansion of its portfolio in existing destinations such as Spain and Colombia.
- Welcoming de-flags: Last year, 11 properties partnered with a Preferred Hotel Group brand after declaring their independence from a hard flag brand. The most recent conversions include Edgewater Beach Hotel in Naples, Florida, a member of Preferred Hotels & Resorts (formerly of Waldorf-Astoria); V-Continent Beijing Parkview Wuzhou Hotel in Beijing, China, a member of Summit Hotels & Resorts (formerly of Crowne Plaza); and Hotel Irvine Jamboree Center in Irvine, California, a member of Summit Hotels & Resorts (formerly of Hyatt Regency).
- Catering to China: In December, the company rolled out China Ready, an initiative to help member hotels court and support the thriving Chinese travel market, with components including a simplified Chinese website, dynamic marketing campaigns, new distribution channels, and, for select hotels, a one-of-a-kind certification program.