Preferred Hotels & Resorts is a hotel chain that represents more than 650 independent hotels, resorts, and residences, across 85 countries. The company's corporate headquarters is in Newport Beach, California. It does not own, operate, or manage any of the hotels. All of the hotels, resorts, and serviced residences in the company's portfolio are independent entities.[2]
History
Preferred Hotels & Resorts was founded by 12 North American hoteliers in 1968, originating as a referral organization for hotels.[3]
In 1981, the association rebranded under the name Preferred Hotels Worldwide, and ended the personal referral system previously used for membership. The 1990s saw increased transformation as Preferred Hotels Association became a for-profit stock corporation. During this decade, the company also developed a 1,600-point inspection used to determine a hotel’s muster for inclusion in the group. Further advancements were made in the company’s electronic distribution platform, and Preferred opened its first international sales offices. In 2000, the company created a new holding company called IndeCorp (Independent Hotel Corporation).[4]