The Taj chain of luxury hotels has topped the list of ‘Strongest Brands of Hotels’ worldwide, for outstanding resilience and service, despite being subjected to the hardships of the pandemic, as per the ‘Hotels 50 2021’ report by Brand Finance. On 25th June, 2021, the Tata Group hospitality firm, Indian Hotels Company Ltd (IHCL), shared that its ‘Taj’ brand had been rated as the strongest hotel brand in the world. With this top slot, the Taj brand re-enters the ranking for the first time since 2016, when it stood at the 38th position.
Brand Finance, a global brand valuation consultancy firm, evaluates the relative strength of brands, based on factors such as marketing investment, customer familiarity, staff satisfaction, and corporate reputation. “According to these criteria, Taj (brand value USD 296 million) is the world’s strongest hotel brand, with a Brand Strength Index (BSI) score of 89.3 out of 100 and a corresponding AAA brand strength rating,” Brand Finance said in the report.
Brand Finance CEO David Haigh said, “Taj, a brand with a century old legacy and a custodian of the revered Indian hospitality has stood resilient inspite of the challenges posed by the ongoing pandemic. Global travellers have relied upon and tested brands in different ways and Taj has emerged on top.”
The report adds that Taj is renowned for its world-class customer service and the luxury hotel chain scores brilliantly in Brand Finance’s ‘Global Brand Equity Monitor’ for consideration, familiarity, recommendation, and reputation – especially across its home market of India. “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 the speedy adoption of its new R.E.S.E.T 2020 strategy, which provides a transformative framework to help the brand overcome the challenge of the pandemic, has contributed to the brand’s re-entrance into the ranking for the first time since 2016 in 38th spot,” said the report.
Expressing delight on this feat, MD and CEO, IHCL, Puneet Chhatwal said, “Taj being rated as the World’s Strongest Hotel Brand is a testament to the unwavering trust our guests have consistently placed in us and the warmth and sincere care our employees have embodied day-after-day. We will continue our endeavour to elevate the world class experiences of luxury hospitality and deliver the magic of ‘Tajness’ to all our stakeholders.”
The Taj is followed by Premier Inn at second place, Melia Hotels International, NH Hotel Group and Shangri-La Hotels and Resorts in 3rd, 4th and 5th place, respectively. As regards the world’s ‘Most Valuable Hotel Brands’, Hilton topped the list despite recording a 30% drop in brand value, followed by Hyatt, Holiday Inn, Hampton by Hilton and Marriot.
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