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Preferred Hotels Resorts Capitalize on the Luxury Travel Boom in Asia-Pacific
As of July, Preferred Hotels Resorts boasts over 90 properties spread across Asia-Pacific out of its worldwide portfolio consisting of more than 600 hotels. This global hospitality chn is enthusiastic about expanding their presence within this region.
Speaking during ILTM Asia Pacific 2024, Lindsey Ueberroth, CEO at Preferred Hotels Resorts, highlighted that Asia has emerged as one of the primary sources for luxury travel across the globe and a preferred destination for affluent travelers from North America and Europe. Moreover, we are witnessing an expanding number of Asians traveling within Asia, thereby offering numerous seasonal opportunities to cater to this dynamic segment.
Ueberroth identified several areas in Southeast Asia including Cambodia, Vietnam, Malaysia, Australia, and China as promising markets due to a concentration of indepent hotels.
We seek properties across all major markets with the intent of providing travelers with convenient multi-city itineraries. This strategy is fueling our consistent participation at ILTM Asia Pacific events. she elaborated.
In regard to the Chinese market which experienced significant turbulence during the pandemic, signs are positive for this year.
Ueberroth shared that We have recently bolstered our team in Beijing with a new senior appointment. We are currently exploring opportunities and alliances across major and secondary destinations within China, excited about the resurgence of luxury Chinese travelers.
As of January 2024, Preferred Hotels Resorts welcomed over 40 new members, out of which approximately one-third hled from Asia-Pacific region. Among these newcomers were more than a dozen entirely new builds.
When queried on current trs in the luxury travel market, Ueberroth noted that today's luxury travelers are seeking ultra-personalization and transformational experiences beyond just basic amenities. They desire sustnable journeys that transc traditional '3Rs' reduce, reuse, recycle to deeply engage with local communities and culture.
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