Preferred Hotels & Resorts announces 2016 results

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Preferred Hotels & Resorts, the world’s largest global provider of sales, marketing, and distribution services to independent luxury hotels, announced its 2016 year-end results. Last year, continuing the momentum gained in 2015 following its comprehensive global rebranding initiative, the company generated $1.11 billion in reservations revenue on behalf of its member properties worldwide, welcomed 82 new properties, and enriched its points-based iPrefer hotel rewards program.
“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 President & CEO 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 fueled stronger loyalty for the brand and participating independent hotels, producing a 57% increase in enrollments, a 24% increase in stays, and a 23% increase in room revenue generated through iPrefer bookings, compared to 2015 activity. To date, more than 1.8 million travellers have enrolled in iPrefer.