Best Hotel Brand In The World – Indian Hotels Company (IHCL) has announced that its flagship brand Taj has been named the world’s strongest hotel brand by Brand Finance, the world’s leading brand assessment consultancy, in its annual Hotels 50 2021 report. This report recognizes the most valuable and powerful hotel brands worldwide.
Puneet Chhatwal, Managing Director and CEO, Indian Hotels, said, “This is a proud moment for the Indian hospitality industry on the global stage. The recognition of Taj as the world’s most powerful hotel brand is testament to the unwavering trust our guests have in us and the warm and sincere care our staff provide day after day We will continue to strive to elevate the luxury hospitality experience to world class and bring the magic of Tajnes to all our stakeholders.
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Taj received an overall brand strength index of 89.3 out of 100, with a corresponding AAA rating for customer familiarity, employee satisfaction and corporate reputation, as well as world-class customer service.
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David Haig, CEO of Brand Finance, said: “We are delighted to announce the Taj as the world’s most powerful hotel brand. A brand with a century-old heritage and a guardian of India’s venerable hospitality has stood firm despite the challenges posed by the ongoing pandemic .World travelers have relied on brands and experimented in many different ways, and Taj has come out on top.
The Hotel 50 2021 report also highlighted the company’s successful implementation of the R.E.S.E.T 2020 strategy, which created a transformation framework that helped the Taj brand overcome the challenges brought about by the pandemic.
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As holidays have been canceled and people have been told to work from home, the hospitality sector has come to a near standstill from both tourism and business travel.
As a result, according to the latest Brand Finance Hotels 50 2021 report, the total value of the 50 most valuable hotel brands fell by 33%, from US$70.2 billion in 2020 to US$47.4 billion in 2021.
Savio D’Souza, director of valuation at Brand Finance, said: “The hospitality sector has completely stagnated compared to last year and the consequences of this have been seen in the sharp decline in brand value for almost all of the top 50 most valuable companies. hotel brands. But the sector is stable. As the world begins to open up again, we are witnessing a dramatic improvement in bookings and occupancy levels, demonstrating the strength of the brands despite last year’s turmoil.
Hilton again became the world’s most valuable hotel brand, but its brand value fell 30% to $7.6 billion. Although Hilton’s earnings have taken a significant hit since the start of the pandemic, the brand has shown confidence in its growth strategy, announcing 17,400 more rooms to boost its planned total of 400,000 new rooms. was 8% compared to last year. Hilton also has the most valuable hotel portfolio, with seven brands ranked with a total brand value of $13.8 billion.
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, having lost more than half of its brand value. Last year, the brand’s global revenue per room was down 60% compared to 2019, while global occupancy was just 36% for the year.
Bucking the sector trend, Hyatt (up 4% to $4.7 billion) was one of two brands in the rankings to record brand value growth. Despite the pandemic taking a toll on operations, Hyatt’s cleanroom growth has been strong, opening and entering 72 hotels. 27 new markets. In addition, the brand continued to pursue new signings to maintain a pipeline that shows more than 40% growth in future hotel rooms.
In addition to measuring overall brand value, Brand Finance also assesses the relative strength of brands based on factors such as marketing investment, customer familiarity, employee satisfaction and corporate reputation. According to these criteria, Taj ($296 million brand value) is the strongest hotel brand in the world, with a Brand Strength Index (BSI) score of 89.3 out of 100 and a corresponding AAA brand strength rating.
The luxury hotel chain, known for its world-class customer service, scores highly on the Global Brand Equity Monitor for review, familiarity, recommendation and reputation, particularly in the Indian domestic market.
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The successful implementation of Taj’s 5-year plan – to divest non-core assets, reduce ownership and reduce reliance on the luxury space – will provide a transformational framework to help it rapidly adopt its new R.E.S.E.T 2020 strategy. the brand overcame the challenge of the pandemic and contributed to the brand’s re-entry into the ranking for the first time since 2016 at 38.
As well as analyzing the world’s most valuable hotel brands, Brand Finance also ranks the 10 most valuable brands in the wider leisure and travel industry. The combined value of the world’s most valuable leisure and travel brands has fallen by 40% this year.
Although Booking.com lost 19% in brand value to $8.3 billion, it fell behind Airbnb (down 67% to $3.4 billion) and Trip.com Group (down 38% to $3.5 billion) and became the most valuable brand in leisure and tourism. world. This year’s fastest-falling brand, Airbnb, cut a quarter of its workforce last year and has been forced to cut new initiatives, including luxury resorts and flights.
Happy Valley (down 37% to US$1.2 billion) is the sector’s strongest brand, with a BSI score of 84.1 out of 100 and a corresponding AAA brand strength rating.
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The world’s largest cinema chain, AMC, is struggling as theaters close amid the global shutdown. The brand is hoping that its fortunes will change as customers slowly return to the big screen and delayed blockbusters are finally released.
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While many owners and their pups will be hitting the beach on vacation this year, they’ve rounded up some of the best travel experts at Bounce, a company that offers luggage storage in major cities around the world. to discover the world’s most (and least) successful hotel chains based on factors such as reviews, popularity, affordability and annual revenue.
Hilton Hotels & Resorts, the flagship brand of Hilton Worldwide, owns some of the world’s best hotels. With a total of 584 locations in 124 countries, there is no shortage of Hilton hotels. The chain includes seven 5* hotels, including the stunning Hilton Luxor Resort & Spa in Egypt.
In second place comes Holiday Inn. The Memphis-based budget chain is one of the most widespread hotel brands in the world, with 1,190 locations in 54 countries.
In third place comes the chain of luxury hotels Four Seasons. The hotel brand has 122 locations in 47 countries, and the Four Seasons Resort Maui recently served as a filming location for HBO.
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Park Plaza Hotels and Resorts is the worst hotel chain. With hotels in only 7 countries, the Park Plaza chain has limited availability. The chain also receives the lowest number of annual Google searches worldwide (155,400).
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The good news for American travelers looking for luxury is that there are more hotels around the world than ever before. The bad news is that not every expensive, shiny new hotel is a luxury property.
Over the past decade, there has been a boom in hospitality construction around the world, in established hotel markets such as New York, London and Paris, as well as in red-hot emerging destinations such as Morocco, China and Southeast Asia. As chains expand in number and geography, it becomes increasingly difficult to maintain quality standards, and only the best international luxury hotel brands have managed to provide the consistency of excellence that luxury travelers expect. Toronto-based Four Seasons is a good example of a brand that has invested a lot of time over the years