Preferred Hotels & Resorts targets Asia-Pacific’s luxury travel boom | TTG Asia

Preferred Hotels & Resorts currently have more than 90 properties in Asia Pacific – out of over 600 across the globe – in their portfolio, but the hospitality chain is motivated to expand their presence in the region.

Lindsey Ueberroth, CEO, Preferred Hotels & Resorts, shared with TTG Asia on the sidelines of ILTM Asia Pacific 2024: “Asia is one of the biggest source markets for luxury global travel, and a hotspot for luxury travellers from North America and Europe. We also know that there are large number of Asians who choose to travel within Asia, and there are multiple seasonal opportunities that we can leverage to satisfy this sector.”

She pointed out that there were “tremendous opportunities” here, as there are so many independent hotels in South-east Asia (especially Cambodia, Vietnam and Malaysia), Australia, and China.

“We are looking for properties in all major markets so that we can provide travellers the options and convenience for multi-city itineraries that will allow them to travel around the region. That explains our regular presence at events like ILTM Asia Pacific,” Ueberroth added.

Meanwhile, for the China market that took a beating during the pandemic where some member hotels have ceased operations, things are looking up this year.

Ueberroth shared: “Our team has been strengthened with a recent senior appointment based in Beijing. We are currently looking into opportunities and partnerships in both major and secondary destinations in China, and are excited about the return of luxury Chinese travellers.”

Since the start of 2024, Preferred has welcomed over 40 new members, of which 10 to 15 per cent are from Asia-Pacific. Thirteen of these new members are also new builds.

When asked about trends in the luxury travel market, Ueberroth observed that luxury travellers these days are looking for ultra-personalisation in their stays; are seeking experiences that will transform them and have an impact on their lives; and want sustainable travel that goes beyond the 3Rs( Reduce, Reuse, Recycle) and delve deeper into the culture and heritage of the local community.