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Celebrating
its 40th anniversary in 2008, Preferred Hotel Group is gradually emerging as
one of the world's most sought-after collection of hotels and resorts. The company grew significantly in 2007, welcoming more than 75 properties to its four brands worldwide. The acquisition of an
exciting fifth brand, Historic Hotels of America, in October added another 200 members bringing the total Preferred Hotel Group collection to
over 600 members. Growth also came from new strategic partnerships including Preferred Residences with Interval International
and Preferred Golf Club with American Express.
"Asia Pacific is a region of great importance to Preferred Hotel Group. We are committed to driving increased sales to our hotels and
growing membership in all brands," said John Ueberroth, Chairman and CEO, Preferred Hotel Group. "We believe our combination of
innovative thinking and strategic global growth will make 2008 a defining year for us in the region."
Member hotels in Asia Pacific increased from 30 to 45 last year and the regional portfolio is projected to reach 70 hotels by the end of 2008.
Preferred Hotel Group's proprietary distribution system and web booking engine delivered
double-digit growth in Asia Pacific of
72% in total room nights and 82% in room revenue, while the overall revenue in the region exceeded 2006's record level by
42%.
New member hotels were concentrated in the robust economies of China and India, as well as the bustling city of Tokyo. To promote
continued regional growth, Preferred Hotel Group is expanding its management team in key Asia Pacific locations of Hong Kong, Singapore
and Sydney. The addition of seasoned executives will help ensure that member hotels continue to benefit from the organization's expert
Revenue Management, Sales and Marketing professionals.
"With most Asian cities developing fast, hotel owners rely less on major chains for their international business and have more confidence to
become independent. We have seen a strong trend in hotel owners completing their management contracts with chains and approaching
us as partners," said Ananya Narayan, Area Managing Director of Preferred Hotel Group, Asia Pacific.
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