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Preferred Joins Serviced Residences Market with New Brand

Travel News Asia Latest Travel News Podcasts Videos Friday, 10 February 2012

Preferred Hotel Group is entering the expanding luxury serviced residences market with a new brand Summit Serviced Residences.

Joining the Summit Serviced Residences collection are seven properties from AKA, a leader in the luxury long-stay market, with locations in New York City, Philadelphia, Washington, D.C., and Arlington, Virginia.

"This is a growth opportunity for Preferred Hotel Group. Business travelers on temporary assignments, relocating executives, and family travelers desire exceptional services, and want the experience of staying in luxury accommodations surrounded by the comforts of home," said Lindsey Ueberroth, President, Preferred Hotel Group. "Entering the flexible-stay market is a natural extension for the company."

Preferred expects to grow its Summit Serviced Residences collection internationally and will target key cites in Asia, Africa, Europe, and India, where it already includes its inaugural partners in Singapore, 8 on Claymore Serviced Residences, and in South Africa, Gondwana Game Reserve.

"Were thrilled Preferred Hotel Group has launched its new division catering to the long-stay traveler," said Larry Korman, President of AKA. "The demand for luxury long-stay accommodations continues to grow as a result of individuals' lifestyle shifts. This partnership will help expand our global reach and serve the evolving needs of today's affluent traveler."

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