In a striking revelation by Brand Finance, the world’s preeminent brand valuation consultancy, Hilton has retained its title as the world’s most valuable hotel brand for the ninth consecutive year, boasting an impressive brand value of USD 11.6 billion. This consistent performance places Hilton at the pinnacle of the global hotel industry, underscoring its dominant market presence.

Hilton and Hyatt: The Titans of Hotel Branding

Hilton’s enduring success is mirrored by Hyatt, which secured the second spot with a brand value of USD 6.0 billion. These brands are the only hotel entities featured in the Brand Finance Global 500 2024 ranking, highlighting their exceptional market influence. Despite this dominance, the broader hotel industry faces significant challenges. Eight out of the top ten brands witnessed declines in brand value, with over 60% of US-based brands also experiencing downturns. This trend indicates a struggle to capitalize on the increasing demand within the sector entirely.

Henry Farr, Associate Director at Brand Finance, noted, “Many top hotel brands have struggled to grow their brand value as robustly as in the years leading up to 2020. The Brand Finance Hotels 2024 ranking shows that these challenges are ongoing as the industry recovers. Despite an uptick in travel and hotel demand, the actual growth hasn’t matched expectations, resulting in slight declines or minimal brand value growth for the world’s leading hotel brands.”

Taj Hotels: A Beacon of Strength and Growth

Amidst these challenges, India’s Taj Hotels has emerged as a beacon of strength and growth. Taj is now the world’s second-fastest-growing hotel brand, experiencing a remarkable 45% increase in brand value to USD545 million. Significant revenue increases and enhanced brand strength drive this growth. Taj has climbed three positions in the Brand Strength Index (BSI) ranking, achieving the highest rating of AAA+ with an improved score of 92.3 out of 100. Taj’s exceptional performance across metrics such as familiarity, consideration, recommendation, and reputation has solidified its position as the strongest hotel brand globally.

Spain’s Hotel Brands on the Rise

Spain’s hotel brands have also shown notable progress. Occidental debuted at 42nd place with a brand value of USD318 million, while Meliá joined at 43rd with USD312 million, doubling Spain’s representation in the ranking. NH Hotels, Spain’s most valuable hotel brand, saw an 18% increase to USD 770 million. Barceló, ranked 21st, experienced a 12% rise to USD683 million, excelling in metrics like consideration, recommendation, reputation, and loyalty despite a slight decline in its BSI score. These gains underscore the increasing competitiveness of Spanish hotel brands in the global market.

The Leisure and Tourism Sector: A Broader Perspective

For the first time, Brand Finance has unveiled the world’s top 25 most vital and most valuable leisure and tourism (L&T) brands, collectively valued at USD59.1 billion. Booking.com, Airbnb, and Trip.com Group secured the top three positions, demonstrating double-digit brand value growth. Royal Caribbean experienced a 58% increase to USD 4.1 billion, climbing to fourth place and becoming the sector’s second-fastest-growing and second-strongest brand globally. Tokyo Disneyland made a remarkable debut in sixth place with a brand value of USD 2.7 billion, earning an AAA+ rating and emerging as the world’s strongest L&T brand.

The Brand Finance report highlights the mixed fortunes of the global hotel industry. While top brands like Hilton and Hyatt maintain dominance, others face significant challenges in capitalizing on rising demand. However, the remarkable growth of brands like Taj and the resurgence of Spain’s hotel sector signal positive trends. As the leisure and tourism sector recovers, the competitive landscape evolves, with solid brands poised to capitalize on new opportunities.

For a detailed Brand Finance Hotels 2024 ranking analysis, visit Brand Finance.

Written by: Bridget Gomez

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