PREFERRED Hotel Group reported substantial portfolio growth in 1Q2012 through the addition of 22 hotels, including gains in new markets such as Russia, Iraq, and the Maldives.
“Preferred had a strong first quarter,” said Lindsey Ueberroth, president, Preferred Hotel Group. “We are pleased to see new member growth across all our brands and our continued expansion into key new markets.”
The group’s Preferred Hotels & Resorts brand registered the most significant increase, taking on eight new members during the quarter. Other notable additions include Dusit Thani Maldives under its Preferred Boutique banner, and The Toy Hotel, Chandigarh in Punjab, India under its Sterling Design brand.
During the quarter, Preferred also registered a 24 per cent year-to-date hike in booking volume, and a 31 per cent year-on-year jump in reservation revenue.
“Looking ahead, our reservations data is showing signs that summer travel is off to a great start, with June bookings already 20 per cent higher than this time last year,” said Ueberroth.
