Home > > World’s top hotel brands lose nearly $23 billion in brand value

World’s top hotel brands lose nearly $23 billion in brand value

06/24/2021| 2:27:05 PM| 中文

Marriott has dropped down to 5th spot from 2nd, losing more than half of its brand value to USD 2.4 billion.

As holidays are cancelled and people are instructed to work from home, the hospitality sector has reached an almost complete standstill both from tourism, as well as corporate travel. As a result, the total value of the top 50 most valuable hotel brands has decreased 33% year-on-year, down from US$70.2 billion in 2020 to US$47.4 billion in 2021, according to the latest Brand Finance Hotels 50 2021 report.

Hilton once again is the world’s most valuable hotel brands, despite recording a 30% drop in brand value to US$7.6 billion. While Hilton’s revenue has taken a significant hit since the outbreak of the pandemic, the brand is showing confidence in its growth strategy, announcing a further 17,400 rooms to its pipeline, bringing the total to over 400,000 new rooms planned – an uplift of 8% on the previous year. Hilton also boasts the most valuable hotel portfolio, with its seven brands that feature in the ranking reaching a total brand value of US$13.8 billion.

Alongside analysing the world’s most valuable hotel brands, Brand Finance also ranks the top 10 most valuable brands in the wider leisure & tourism industry. This year, the total value of the world’s top 10 most valuable leisure & tourism brands has declined by 40%.

Despite booking.com recording a 19% brand value loss to US$8.3 billion, it has overtaken Airbnb (down 67% to US$3.4 billion) and Trip.com Group (down 38% to US$3.5 billion) to become the most valuable leisure & tourism brand in the world. The fastest falling brand this year, Airbnb, cut a quarter of its workforce last year, and was forced to scale back on new initiatives that it had in the pipeline, including luxury resorts and flights.

Happy Valley (down 37% to US$1.2 billion) is the sector’s strongest brand, with a BSI score of 84.1 out of 100 and a corresponding AAA- brand strength rating.

There are three new entrants into the ranking this year, AMC Theatres (brand value US$1.8 billion) in 7th, Priceline (brand value US$1.5 billion) in 8th, and Shenzhen Overseas Chinese Town (brand value to US$1.3 billion) in 9th.

Read original article

TAGS: Brand Finance | Hilton |  Trip.com |  brand value
©2021 广州力矩资讯科技有限公司 粤ICP备06070077号
Tell us more about yourself!