NEW NAME, NEW LOOK AND NEW BOUTIQUE BRAND REFLECT PREFERRED'S NEW DIRECTION AND INCREASED EXPANSION UNDER GLOBAL LEADERSHIP OF CEO UEBERROTH
Preferred Poised To Win Today's Travelers
And Increase Hotel Market Share
Chicago (May 10, 2005) --- IndeCorp announces today that it will move forward under the new name, Preferred Hotel Group, capping a year of exciting growth and change under the leadership of Chairman and CEO John Ueberroth. In addition to the corporate name change, the company's three current portfolios, Preferred Hotels & Resorts, Summit Hotels & Resorts, and Sterling Hotels (a connectivity service provider) will unveil a fresh creative identity. The group is also excited to announce the addition of the Boutique brand.
Preferred Hotel Group is a multi-brand organization that delivers high-performance sales, marketing, and technology solutions to independent luxury hotels around the world. The new name and design highlight the company's philosophy of celebrating the distinctiveness of Preferred Hotel Group properties while uniting them through exceptional quality standards and personal service.
Responsible for much of the company's increased focus is Ueberroth, who assumed control a little over a year ago, bringing with him a diverse understanding of the travel industry. Ueberroth states, "We know what hotels want - increased sales, market-specific support, and the recognition our brand equity provides." As a result, he implemented a regional restructure with dedicated management and sales teams for North America, Europe and the Middle East, and Asia Pacific. Additional support was also added for Central and South America. To meet expectations, the Preferred sales force has grown significantly over the past year as well, specifically in the area of Group Sales.
Further illustrating the bold changes afoot is the announcement of Boutique, which will officially launch later this summer. The Boutique portfolio will highlight uniquely memorable properties that emphasize distinctive design, service, and personality on a more intimate scale. "We saw a tremendous opportunity for growth in the boutique hotel category and believe that a partnership with our Boutique brand will dramatically increase their profile and profitability," says Ueberroth.
Boutique complements Preferred Hotel Group's existing brands. Preferred Hotels & Resorts are exceptional properties that cater to the most discerning business and leisure travelers. Located in the world's most desirable destinations, these hotels offer the highest level of quality, service and travel experiences. Summit Hotels & Resorts are remarkable properties primarily located in international cities. The hotels have a special appeal to the discriminating business traveler who seeks an authentic experience delivered through warm and inviting service. Sterling Hotels are properties with which we have a connectivity service partnership that benefits from an in-depth infrastructure.
"Now, with three brand portfolios and the option of our connectivity service, we have the best, most flexible solutions in the industry. As their partners, we are able to address the unique needs of different luxury properties and positively impact their business on a global scale," continues Ueberroth.
By providing state-of-the-art technology and innovative business solutions, Preferred Hotel Group creates solid partnerships with its hotels. Ueberroth concludes, "The style, highly personalized service and exceptional quality of independent hotels is favored by today's travelers, and Preferred Hotel Group enables member hotels to compete effectively."
ABOUT PREFERRED HOTEL GROUP
Preferred Hotel Group is a multi-brand organization that delivers high-performance sales, marketing, and technology solutions to independent luxury hotels around the world. Its key services include expert business consultancy, sales, marketing, distribution, reservations and revenue management. Preferred Hotel Group employs 108 employees in 12 countries.
Preferred Hotel Group services 300 independent hotels in over 50 countries through its brands: Preferred Hotels & Resorts (www.preferredhotels.com), Summit Hotels & Resorts (www.summithotels.com), Boutique (www.preferred-boutique.com) and Sterling Hotels (www.sterlinghotels.com). The Preferred Hotel Group's website is www.preferredhotelgroup.com.
PRESS CONTACT:
| Teresa Delaney Seward | Nora Gainer |
| President | Vice President, Marketing |
| Tess Communications International | Preferred Hotel Group |
| Tel: +1 212 683 4343 | Tel: +1 312 542 9264 |
| Fax: +1 212 898 1150 | Fax: +1 312 913 0444 |
| Mobile: +1 917 670 5674 | Mobile/Text: +1 312 804 2950 |
| Email: tdelaney@tessci.com |
Email: ngainer@preferredhotelgroup.com |
Preferred Hotel Group Press Website: www.preferredhotelgroup.com/press
Preferred Hotel Group Image Libraries: www.leonardo.com/preferred
www.leonardo.com/summit
www.leonardo.com/sterling
