2018 Was a Year of Profit and Growth for Preferred Hotels & Resorts

A lifeguard station on Hutchinson Island in Stuart.

For Preferred Hotels & Resorts, 2018 was a year marked by such highlights as adding 88 new member properties around the globe, a 22 percent increase in reservation revenue and the launch of a new website.

The company, which celebrated its 50th anniversary in 2018, also reached the three-million-member mark for its I Prefer Hotel Rewards program and generated $1.66 billion in reservations revenue on behalf of member properties around the globe.

“Fueled 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,” CEO Lindsey Ueberroth, said in a statement.

“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.”

Highlights of the brand’s notable achievements in 2018 include:

New Brand Website

On October 26, 2018, Preferred Hotels & Resorts re-launched PreferredHotels.com as a visual-forward, fully responsive brand website featuring large-scale photography; engaging property guides; and expanded filters that invite searches by destination, travel theme, type of property and level of luxury to create a more inspiring, intuitive booking process.

The company said its new website created an immediate, impactful connection between the brand and discerning travelers seeking the unique perspective of the independent hotel experience. It attracted a 23 percent increase in unique visitors in the first 60 days, compared to the same time period in 2017.

Loyalty Program Growth

In its fifth year as a points-based model, I Prefer Hotel Rewards continued to drive strong results for Preferred Hotels & Resorts. More than 500,000 new travelers signed up to gain access to the program’s benefits in 2018, which represents a 20 percent growth in membership over 2017, helping to fuel a 24 percent increase in total I Prefer reservations revenue for participating hotels, which included a 92 percent increase in revenue booked through the I Prefer member rate, compared to 2017.

To support the program’s growth and engagement among leisure and corporate travelers alike, new icons highlighting the benefits of I Prefer membership appear on every page of the brand’s new website.

First-Time Presence and Expanding Markets

Preferred Hotels & Resorts expanded its worldwide portfolio in 2018 by breaking into new countries such as Hungary with The Mystery Hotel Budapest (L.V.X. Collection), as well as marking first-time presence in regional markets such as Silao, Mexico; Irapuato, Mexico; Puglia, Italy; Sardinia, Italy; and Cornwall, England.

The brand also made gains in existing destinations such as Mexico—adding 13 new hotels such as Montage Los Cabos (Legend Collection) and Grand Velas Riviera Nayarit (Legend Collection)—and Mallorca—welcoming five new hotels including Can Bordoy Grand House & Garden (L.V.X. Collection).

Can Bordoy Grand House & Garden (Courtesy Preferred Hotels & Resorts)

Supporting De-Flags

The brand continued to serve as a strong, strategic partner for hoteliers following their decision to de-flag from other brands, welcoming existing but newly independent hotels to its portfolio such Gokulam Grand Hotel & Spa in Bengaluru, India (Lifestyle Collection – formerly Movenpick); The Inn at Perry Cabin in Maryland, U.S.A. (Legend Collection – formerly Belmond); Sea Containers London (L.V.X. Collection – formerly Mondrian); and Marigot Bay Resort & Marina in St. Lucia (L.V.X. Collection – formerly Capella).

Notable Member Hotel Additions

Among the other notable properties that joined Preferred Hotels & Resorts in 2018 to fuel growth across every collection include Encore Boston Harbor in Massachusetts, U.S.A. (Legend Collection – opening June 2019); JA Manafuru in the Maldives (Legend Collection); The Inn at Perry Cabin in Maryland, U.S.A. (Legend Collection), Balboa Bay Resort in Newport Beach, California, U.S.A. (L.V.X. Collection); Narcissus Hotel & Residence in Riyadh, Saudi Arabia (L.V.X. Collection); Grand Elysée Hamburg in Germany (L.V.X. Collection); and 9Confidentiel in Paris, France (L.V.X. Collection); Kalidria Hotel & Thalasso SPA in Puglia, Italy (Lifestyle Collection); Sophy-Hyde Park in Chicago, Illinois, U.S.A. (Lifestyle Collection); Amerikalinjen in Oslo, Norway (Lifestyle Collection – opening April 2019); Stanford Court in San Francisco, California, U.S.A. (Connect Collection); Real Inn Monterrey in Mexico (Connect Collection); and CitySuites Manchester in England (Preferred Residences).

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