Global hospitality giant Hilton has been crowned the world’s most valuable hotel brand. The 2017 annual report Brand Finance Hotels 50 has ranked the Hilton group as leaders in the hospitality field in terms of their net worth, which is valued at $8.4 billion (£6.4 billion).
The brand is AAA rated, putting it among the top names in the hotel industry, along with Marriott, Sheraton and the Holiday Inn. North American brands are placed in the top four spots of the leader board by the report carried out by the valuation and strategic consultancy firm Brand Finance, cementing North America’s position as a commercial heavyweight in an increasingly competitive industry, with alternative markets such as China and Asia Pacific growing steadily.
The news will be welcomed by Hilton, whose worth up 7% on 2016. The hotel brand has staved off competition from new trends in hospitality in the form of temporary accommodation such as AirBnB, poshtels and boutique hotels, who appeal more to a younger demographic such as millennials. Hilton has built a loyal client base since its foundation nearly 100 years ago, surely a contributing factor to its sustained popularity. The power of the Hilton brand has been bolstered by new initiatives in sustainability and recycling, and also by new brand partnerships and acquisitions.
Premier Inn was listed at the top of the report as the world’s most powerful hotel brand. The UK group’s draw lies in the sheer quantity of hotels it operates, and the reliability of the brand in terms of economy and service it provides. Holiday Inn and Days Inn follow suit in the power brand category, pointing to a steady demand for mid-range accommodation that serves a wide range of customers.