Preferred Hotel Group, the global provider of sales, marketing, and distribution services to independent hotels, generated $882 million in 2014 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 a progressive brand by increasing conversion through its brand websites, driving strong results through its iPreferguest loyalty programme, and forming strategic partnerships with small hotel groups in key markets.
Successfully executed aggressive goals
“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 programmes 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 booking 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 per cent and, combined with more visitors viewing the websites, the company achieved a 26 per cent increase in bookings and a 30 per cent 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 iPreferguest loyalty programme, which now features 550 hotels and resorts in 75 countries. In 2014, iPreferreservations had an average stay value of $820, and average monthly new membership enrolments increased by 74 per cent, compared to average monthly member enrolments in 2013.
Data indicated that 72 per cent of hotel stay revenue was generated by iPrefermembers who had enrolled at other participating hotels, proving the programme’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 finalised 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, programmes, products, and services click here
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