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

Taj Hotels, the flagship brand of Indian Hotels Company (IHCL), has become the world’s strongest hotel brand on the back of rapid revenue growth.

The brand has been recognised as the world’s second fastest-growing brand, after Sheraton’s Four Points, stated a Brand Finance report titled Hotels 50 2024.

Taj’s brand value soared to $545 million, stated the report.

“We are delighted for the iconic brand Taj to be honoured as the World’s Strongest Hotel Brand yet again, in its milestone 120th year. Receiving this recognition for four years, thrice as 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 Puneet Chhatwal, managing director and chief executive officer, IHCL.

“This achievement underscores the trust and affection of our guests and the steadfast dedication and commitment of our colleagues in delivering warm and sincere service, a true hallmark of Taj,” he added.

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 added.

The hospitality giant had reported a 29.36 per cent growth in its consolidated profit after tax to Rs 438.33 crore in the fourth quarter ended March 2024.

Meanwhile, Hilton, with a brand value of $11.6 billion, continued to hold its position as the world’s most valuable hotel brand for the ninth consecutive year.

First Published: Jun 12 2024 | 9:41 PM IST