The list of the strongest brand in the global hotels’ industry for 2021 is out. And as per the reports, the majestic premium hotel brand Taj Hotels has emerged as the strongest brand. The report is prepared by a UK-based brand valuation company- Brand Finance, and Taj has managed to beat brands like Hilton, Shangri-La and Marriot to bag the top spot. Read on to know more about it.
Taj Hotels Has A Brand Value Of Rs. 2,200 Crores
Taj has scored 89.3 out of 100, USA’s Premier Inn followed with a score of 88.9. Two hotel brands from Spain – Melia and NH Hotel Group – took the third and fourth spot, while Hong Kong-headquartered Shangri-La placed fifth. When it comes to valuation, several factors come into place while preparing the report. The report is based on factors such as marketing investment, customer familiarity, staff satisfaction, and corporate reputation.
It Has Managed To Beat Top Brands Like Hilton, Shangri-La And Marriot
As per these criteria, Taj has a brand value of Rs 2,200 crore, which makes it the strongest hotel brand in the world. The report states that Taj’s successful implementation of its 5-year plan, which focuses on selling non-core assets, becoming less ownership driven and reducing dependence on the luxury space, followed by speedy adoption of its new 2020 strategy, has contributed to the brand’s re-entrance into the top ranking.
In terms of valuation, the top five positions are captured by leading hotel group’s from the US. Virginia-based Hilton with a valuation of Rs 56,300 crore, followed by California-based Hyatt for Rs 34,800 crore, Holiday Inn from Denham for Rs 28,100 crore, Hampton at the fourth spot for Rs 21,200 crore and Washington DC-based Marriott Rs 17,800 crore.