Latest News
HomeRegional NewsAfricaWorld’s top hotel brands struggle to build brand value despite rising demand, show Brand Finance’s data

World’s top hotel brands struggle to build brand value despite rising demand, show Brand Finance’s data

  • Hilton

New data from Brand Finance reveals Hilton, Taj, and Spanish brands are exceptions as the leisure and tourism sector’s resurgence continues

LONDON – Hilton, with a brand value of USD11.6 billion, has retained its title as the world’s most valuable hotel brand for the ninth consecutive year, according to new data from Brand Finance, the world’s leading brand valuation consultancy. Hyatt, with a brand value of USD6.0 billion, secured the second spot again. Hilton and Hyatt are the only two hotel brands to feature in the Brand Finance Global 500 2024 ranking. Eight out of the top ten brands included in the ranking decreased in brand value, and over 60% of US brands featured in the ranking also decreased, indicators that the industry is struggling to fully capitalise on brand growth potential despite rising demand.

Henry Farr, Associate Director, Brand Finance, commented: “Many top hotel brands have struggled to grow their brand value as robustly as in the years leading up to 2020, and 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.” 

That said, there are brands exhibiting strong growth. India’s Taj is the world’s second-fastest-growing brand, up 45% to USD545 million, driven by supercharged revenue growth and improved brand strength. Taj has climbed three positions in the Brand Strength Index (BSI) ranking to become the world’s strongest hotel brand. With an improved BSI score of 92.3 out of 100, Taj has earned an AAA+ rating, the highest rating awarded by Brand Finance. Taj performed exceptionally well across several brand strength metrics, including familiarity, consideration, recommendation, and reputation, underscoring Taj’s dominant position within India’s hotel sector.

Brand Finance data also reveals a significant boost in brand values of Spain’s top hotel brands, propelling them higher in this year’s ranking. New entrant Occidental debuts at 42ndwith a brand value of USD 318 million, while Meliá joins in 43rd rank at USD312 million, doubling Spain’s presence. NH Hotels, Spain’s most valuable hotel brand, noted an 18% increase to USD770 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 growing competitiveness of Spanish hotel brands.

For the first time, Brand Finance unveiled the world’s top 25 strongest and most valuable leisure and tourism (L&T) brands, with an aggregate brand value of USD59.1 billion. booking.comAirbnb, and Group secure the top three positions, each noting double-digit brand value growth. Royal Caribbean, with a 58% increase to USD4.1 billion, has climbed to fourth place, becoming the sector’s second fastest-growing and second strongest brand globally. Tokyo Disneyland debuts in sixth place with a brand value of USD2.7 billion and has emerged as the world’s strongest L&T brand with an AAA+ rating, the highest awarded by Brand Finance.

Theodore Koumelis
Co-Founder & Managing Director - Travel Media Applications | Website

Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.