CHICAGO—Preferred Hotel Group announced its third quarter results. Over the past three months, the company generated year-to-date increases of 26% in reservation revenue, 21% in room nights, and 4% in ADR on behalf of its worldwide portfolio, compared to the same time period last year.
In addition, the company welcomed 42 new hotels, totaling 95 new properties thus far for 2013. Also during the third quarter, Preferred Hotel Group launched iPrefer, a global points-based guest loyalty program available to independent hotels.
“It was an exciting quarter for Preferred Hotel Group, and we expect this momentum to continue,” stated Lindsey Ueberroth, president of Preferred Hotel Group. “To-date bookings for our hotels for the months of November and December are already 18% and 29% higher, respectively, than this time last year.”