Hilton has retained its position as the 'most valuable hotel brand' globally for the ninth consecutive year in the 'Hotels 50 2024' annual report released by brand valuation consultancy firm, Brand Finance. Hilton's brand value remains an impressive $11.6 billion.
Hyatt and Hampton Inn are at second and third place, despite slight brand value dips of 1% and 2%. Marriott climbed to fourth position with a 3% brand value increase ($3.1 billion), surpassing Holiday Inn ($2.9 billion), which dropped to fifth place due to a significant 24% brand value decline.
Hyatt's brand value is $6.0 billion, while Hampton Inn's brand value is $4.2 billion.
Taj Becomes Strongest Hotel Brand Globally
Taj Hotels, owned by the Indian Hotels Company (IHCL), was recognised as the strongest hotel brand globally. Taj's impressive financial performance has resulted in the second-highest revenue growth globally, following only Four Points by Sheraton. The brand's value has skyrocketed to $545 million, and its Brand Strength Index (BSI) score has jumped to 92.9 out of 100, earning it an AAA+ rating. This score reflects Taj's expertise in areas like customer familiarity, positive recommendations, and overall reputation.
Thank you for the warm twinkle in your eyes as you walk through our doors & the heartfelt thank you notes you gift us as you leave. You make every moment priceless for us.
June 12, 2024
We are proud to be the #WorldsStrongestHotelBrand. We are even more proud to serve you. pic.twitter.com/S92vvmRr6BHere are top 10 valuable hotel brands in the world:
World's Fastest-Growing Hotel Brands
In the world's fastest-growing hotel brand segment, Four Points surged to the top of the list with a staggering 47% brand value increase to $364 million. Taj follows closely behind, while Millennium Hotels, a new hotel from Singapore, ranks at number three with a 39% brand value jump to $401 million.
Spanish hotel brands have climbed the ranks in this year's ranking. The report has two new Spanish entrants -Occidental and Melia- at the 42nd and 43rd positions. Meanwhile, NH Hotels ranked 18th overall, making it Spain's most valuable hotel brand
Regional player, Scandic Hotels, maintains its position as top choice for travellers in the Nordic countries. This speaks volumes about the brand's ability to cater to the specific needs and preferences of Scandinavian customers.
Booking Aggregators
booking.com remains the world's most valuable leisure and tourism brand, with a brand value of $10.4 billion. Airbnb's brand value is up 23% to $6.9 billion, while next up is Trip.com Group whose brand value is up 31% to $4.4 billion.
The overall report reveals a resurgence of the leisure and tourism sector. Eight of the top ten most valuable hotel brands experienced growth in brand value. This positive trend suggests that travellers are eager to explore and experience new destinations which works well for the future of the hospitality industry.
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