Taj ranked as 'world's strongest hotel brand' by Brand Finance
PTI, 14th Jun 2022
New Delhi, Tata group hospitality firm Indian Hotels Company Ltd's iconic brand Taj has been rated as the 'world's strongest hotel brand' by Brand Finance, a global leading brand valuation consultancy.
In its 'Hotels 50 2022' annual report, Brand Finance ranked Taj ahead of Premier Inn, Hilton Hotels and Resorts, Hampton by Hilton, Embassy Suites Hotels, JW Marriot and Shangri-La Hotels and Resorts, Residence Inn by Marriot, Waldorf Astoria Hotels and Resort and W Hotels Worldwide, in the top ten strongest hotel brands.
"Taj Hotels (brand value up 6 per cent to USD 314 million) is the strongest brand in the ranking with a Brand Strength Index (BSI) score of 88.9 out of 100 and a corresponding AAA brand rating," Brand Finance said in its report.
The pandemic and subsequent national lockdowns hit Taj like other hotels across the world, and Taj was able to successfully adjust strategies to remain relevant to the need of tourists, it added.
"Taj was at the forefront of this with agility and strategic initiatives such as offering support to the healthcare sector," the report said.
Brand Finance's assessment of stakeholder equity incorporates original market research data from over one lakh respondents in more than 35 countries and across nearly 30 sectors.
This is the second year in a row that Taj has been ranked as the world's strongest hotel brand, IHCL said in a statement.
Commenting on the feat, IHCL Managing Director and CEO Puneet Chhatwal said, "We are very proud that Taj has been recognised as the world's strongest hotel brand for the second time in a row. This reaffirms Taj as the most acclaimed benchmark of excellence in the industry globally."
In terms of the most valuable hotel brands, Hilton Hotels and Resorts topped the list with a brand value of USD 12 billion followed by Hyatt at USD 5.9 billion and Holiday Inn at USD 4.2 billion.