Taj becomes world's strongest hotel brand on back of rapid revenue growth

Taj Hotels, the flagship brand of Indian Hotels Company (IHCL), has been recognized as the world's strongest hotel brand, driven by rapid revenue growth. According to the Brand Finance report titled "Hotels 50 2024," Taj has also emerged as the world's second-fastest-growing brand, following Sheraton’s Four Points. The report notes that Taj’s brand value has soared to US$ 545 million. “We are delighted that the iconic brand Taj is honoured as the World's Strongest Hotel Brand once again in its milestone 120th year. Receiving this recognition for four years, thrice as the number one in the world, is a testament to the brand’s century-old legacy of pioneering destinations, setting global benchmarks, and showcasing Indian hospitality to the world,” said Managing Director and Chief Executive Officer of IHCL Mr. Puneet Chhatwal. He added, “This achievement underscores the trust and affection of our guests and our colleagues' steadfast dedication and commitment in delivering warm and sincere service, a true hallmark of Taj.”

With an improved Brand Strength Index (BSI) score of 92.9 out of 100, Taj earned an AAA+ rating, the highest brand strength rating awarded by the leading brand valuation consultancy. “Taj’s BSI score climbed more than three points and performed exceptionally well across various brand strength metrics, such as familiarity, consideration, recommendation, and reputation,” the report stated. The hospitality giant reported a 29.36% growth in its consolidated profit after tax to US$ 52.5 million (Rs.438.33 crore) in fourth quarter ended March 2024. Meanwhile, Hilton, with a brand value of US$ 11.6 billion, continued to hold its position as the world’s most valuable hotel brand for the ninth consecutive year.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.