Hilton, with a brand value of $11.6 billion, has retained its title as the world’s most valuable hotel brand for the ninth consecutive year, according to new data from brand valuation consultancy Brand Finance.
Hyatt, with a brand value of $6 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 10 brands included in the ranking decreased in brand value, and more than 60% of U.S. brands featured in the ranking also decreased, indicators that the industry is struggling to fully capitalize on brand growth potential despite rising demand.
“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,” said Henry Farr, associate director, Brand Finance. “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 $545 million, driven by 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 a 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 42nd with a brand value of $318 million, while Meliá joins in 43rd rank at $312 million, doubling Spain’s presence. NH Hotels, Spain’s most valuable hotel brand, noted an 18% increase to $770 million. Barceló, ranked 21st, experienced a 12% rise to $683 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 $59.1 billion. booking.com, Airbnb and Trip.com Group secure the top three positions, each noting double-digit brand value growth. Royal Caribbean, with a 58% increase to $4.1 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 $2.7 billion and has emerged as the world’s strongest L&T brand with a AAA+ rating, the highest awarded by Brand Finance.