Lodging
The average daily rate at Preferred Hotel Group member hotels during the second quarter increased 4 percent year over year,
the company announced Monday. Room nights were up 18 percent year over year, and bookings were up 20 percent. Preferred projects the growth will continue into the fall, with to-date bookings for member hotels in September running 21 percent higher than this time last year, according to president and CEO Lindsey Ueberroth. Preferred's reservation revenues increased 23 percent year over year during the quarter, and the group added 12 hotels over that period, the company reported.