Preferred Hotel Group on Wednesday announced the promotion of Lindsey Ueberroth to chief executive officer. She will continue to serve in her role as president of the company representing 650 hotels in 85 countries. The move is part of a planned and anticipated succession of leadership as the company enters its 10th year of private ownership by the Ueberroth Family.
Ueberroth, 38, joined Preferred Hotel Group in 2004 and has served in several roles, including president from 2010 to the present. “This was a very well thought out plan,” she told HOTELS. “It’s not a dramatic shift for the company and represents the next generation focusing on the long-term plan for Preferred. Like my dad, I have a passion for the business and plan to be here for a long time.”
John Ueberroth will continue to serve as chairman and remain active in the company’s global development and growth efforts. Gail Ueberroth will continue to serve as the company’s vice chairman and chief marketing officer.
Over the past 40 months since Ueberroth became president, Preferred reports that it has doubled total year-end reservations revenue and generating a 25% increase in ADR. It also launched the company’s new points-based iPrefer loyalty program and introduced the Sterling Design and Summit Serviced Residences brands. Preferred also added a presence in more than 20 new countries and formed partnerships with independent hotels, ranging from Wynn Las Vegas and The Alpina Gstaad to The Mark Hotel in New York City and EAST Beijing.
When asked about her evolving focus as the new CEO, Ueberroth said, “One area I am focused on – and as part of our positioning as a global brand – is the trend of deflagging and the increasing power of independents. To that end, we are focusing resources to execute as well as the chains do. We are also very focused on China. You will see a big focus on how we capture outbound travelers with marketing initiatives.”
Ueberroth added that as more companies like Marriott compete in the independent space with their own “collections,” Preferred will place even further emphasis on proving its value proposition. “We are now competing with the big brands, and that wasn’t the case a few years ago,” she said. “Now we must compete with them on a daily basis and are working to develop a stronger consumer presence.”
At the end of the day, Ueberroth said, Preferred’s member hotels always want more revenue and higher ADRs through the consortium’s channels. “We will take what we have launched to grow revenue, and further enhance and invest in it,” she said. “We have set lofty goals on revenue production and for growth within our brands, and more specifics about how we will do that will be coming soon.”