IndeCorp acquired Summit Hotels and Sterling Hotels in January, which together operate 308 properties worldwide. Preferred Hotels and Resorts is under the IndeCorp holdingcompany umbrella, adding 110 independent luxury hotels to the total.
K2 Digital will develop a platform that will allow independent hotels to take advantage of a centralized Web presence that offers them theability to display the qualities of their individual brands. K2 will also provide turnkey programs for online marketing.
"There have been several industry-specific changes in today's marketplace that have had a profound impact on independent hotel owners," says Peter Cass, CEO of IndeCorp and president and CEO of Preferred Hotels and ResortsWorldwide. "IndeCorp's mission is to provide these independents with expanded marketing and technology resources."
Internet services will become more and more important for the hospitality industry, Bear Stearns predicts. The lodging, gaming andleisure research group of the firm states, "By 2002, hotel bookings via the Internet will generate $3.1 billion in revenues, up from lessthan $100 million in 1997. Bear Stearns estimates that 22% of all US hotel rooms can be reserved over the Internet."
K2 Digital offers business planning, technical strategy, engineering and design services. Its clients include Bristol-Myers Squibb, Morgan Stanley, Silversea Cruises and WorldCom.
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