US: Coinciding with a recent study by HVS that analysed the performance of independent properties, Preferred Hotels have declared 22 October as Independent Hotel Day (IHD)
Following the inaugural celebration, Preferred plans to foster IHD as an annual movement for the industry, welcoming participation by other independent brands and stand-alone properties alike.
The global movement coincides with a study by the hospitality consultancy HVS. Findings showed that Preferred-affiliated properties experienced a 10 per cent growth in RevPAR penetration and achieved a 9 per cent growth in ADR over the three-year period studied (1 January, 2016 to 31 December, 2018).
HVS also reported that Preferred Hotels & Resorts’ cost to hotels is less than 1.4 per cent of total gross rooms revenue on average, compared to upwards of 11.7 per cent charged by other luxury and upper-scale brands.
Michelle Woodley, president of Preferred, said: “This study showcases the irrefutable strength of Preferred Hotels & Resorts as the champion of independent hotels by providing the reach and penetration of a global brand, excellent value, and a suite of services that drive strong results to owners’ bottom line. In a world desperate for individuality and expression, we encourage all hotel owners to ask themselves on Independent Hotel Day and every day in the future: ‘Why incur the cost and encumbrance of a franchise when independent hotels perform better and have far more freedom with Preferred by their side?'”
To celebrate IHD, Preferred also partnered with travel industry intelligence company, Skift, to create a report on the benefits of being an independent hotel.
The report addresses profitability in the independent hotel space, how these hotels can capitalise on consumer trends, and the freedom they enjoy to provide unique and authentic guest experiences.
In the report, Kristie Goshow, chief marketing officer of Preferred Hotels & Resorts, commented: “As human beings we seek reflections of our self in the brands we consume, and the stories we choose to tell. Independent hotels are perfectly set to match this need. They demonstrate a freedom of spirit and a bold self-assurance. At Preferred, we have a duty to help the travelling public understand their hospitality options and realise their reflections at each of our 750 properties worldwide.”
This year, Preferred has added more than 25 new independent hotel openings to its portfolio, and supported more than 80 hotels and resorts who have de-flagged from a major chain or other soft brand.