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Preferred Hotels lending hand to independents

Chicago-based Preferred Hotels & Resorts Worldwide Inc. plans to create a holding company to provide independent companies extra resources to compete against global hotel chains.

The company will invite independent brands to join the organization to increase operating scale, improve revenues by boosting efficiency, obtain financing and improve market share. Based upon research by New York-based PricewaterhouseCoopers, the model is designed to maintain the presence of independent hotels in the international marketplace.

Preferred Hotels and Resorts, a global brand of more than 110 independent luxury hotels and resorts, is expected to form the company after its board votes on the plan later this month.

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