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Tuesday, Dec 5, 2023

Hotel Marketer Books $1.1B

Preferred Hotels & Resorts booked $1.1 billion in reservations in 2016 for the hotels in its system.

The hotels & resorts name is the operating brand of Preferred Hotel Group in Newport Beach. Preferred Hotel Group is a sales and marketing company with 699 independent and boutique properties as members in 89 countries.

About 9% of the $1.1 billion flows to the parent company’s topline, which works out to between $90 million and $110 million in annual revenue, the Business Journal estimates.

This is up from three years ago when bookings were about $800 million and annual revenue was about $70 million.

Preferred last year added its first member properties in Sweden, Norway, Bahrain, Saudi Arabia and Qatar, in part through new deals with hotel managers that included Murwab Hotel Group and Nordic Hotels & Resorts.

Local clients of Preferred Hotels & Resorts include Montage Hotels & Resorts, based in Irvine.

Preferred Hotel Group is owned and run by Ueberroth family members.

John Ueberroth is executive chairman; his daughter Lindsey is chief executive and president; his son Casey is chief marketing officer. John Ueberroth is the brother of Newport Beach financier Peter Ueberroth.

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