Preferred Hotels & Resorts announces 2018 year-end results

Amy Horsfield By Amy Horsfield
01 February 2019 | Updated 01 February 2019

US: Preferred Hotels & Resorts, the world’s largest global provider of sales, marketing, and distribution services to independent luxury hotels, has announced its 2018 results

In 2018, the company generated $1.66 billion in reservations revenue on behalf of its member properties worldwide, a 22% increase over 2017, and welcomed 88 new hotels, resorts, and residences across 28 countries. In addition, the brand marked several key accomplishments during its 50th anniversary year by launching a new website, PreferredHotels.com, surpassing three million member enrollments in its I Prefer Hotel Rewards program; and being named the #1 "Most Excellent" Large Hotel Chain in the world by TripAdvisor travellers.

CEO Lindsey Ueberroth said: "Fuelled by a continuous dedication to champion the independent hotel experience, our global team approached 2018 with boundless energy, allowing us to execute on a strategic vision and achieve major wins that have elevated the profile of our brand and our member hotels on a global scale. As Preferred Hotels & Resorts enters its 15th year of family ownership, I am proud to reflect on all we have accomplished and am incredibly inspired by the momentum we have created to drive even more success as we enter the next generation of our brand's legacy."

Some of the brand's key achievements in 2018 include; launching its new website, Loyalty Program Growth that I Prefer Hotel Rewards continued to drive strong results for Preferred Hotels & Resorts as it entered its fifth year, first time presence and expanding markets in which the brand expanded its worldwide portfolio by breaking into new countries, and supporting de-flags where the brand continued to serve as a strong, strategic partner for hoteliers following their decision to de-flag from other brands.

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