IHCL (Indian Hotels Company Limited), the largest hospitality company in South Asia, announced that its iconic brand, TAJ, has been named the Strongest Hotel Brand in the World by Brand Finance, the leading brand valuation consultancy in the world in its annual report of ‘Hotels 50 2021’. This report recognizes the strongest and most valuable hotel brands across the world.
The Managing Director & Chief Executive Officer of Indian Hotels Company, Puneet Chhatwal, said, “This is a remarkable moment for the Indian hospitality industry on the international stage. Taj being rated as the Strongest Hotel Brand in the world is a testament to the strong trust our guests have continuously placed in us and the comfort and sincere care our employees have embodied day after day”.
Chhatwal said, “We will continue our endeavour to escalate the world-class experiences of premium hospitality and share the magic of Tajness to all our stakeholders,”.
Out of 100, Taj received an overall Brand Strength Index of 89.3, with a corresponding AAA rating for employee satisfaction, customer friendliness, and corporate reputation as well as the world-class customer service they offer.
The Chief Executive Officer of Brand Finance David Haigh said, “We are delighted to announce ‘TAJ’ as the Strongest Hotel Brand in the World. A brand with a hundred-year-old legacy and a custodian of the admired Indian hospitality has stood resilient despite the difficulties put forward by the ongoing pandemic. Travelers across the globe have relied upon and tested brands in different ways and Taj has come on top.”
The report says that the top hotel brands in the world have lost nearly 23 Billion Dollars during the pandemic. The aggregate value of the world’s top fifty most valuable hotel brands has deteriorated by 33 per cent as the industry negotiates fallout from the coronavirus outbreak. The report also mentions that the year 2020 saw the travel industry suffering from a worst-ever blow.
The Hotel 50 2021 report also pointed out the successful implementation of its R.E.S.E.T 2020 strategy of Taj, which provided a transformative framework, helping the hotel brand surmount pandemic related hurdles. It has helped the brand to re-enter into the ranking for the first time since 2016. IHCL is a Tata Group company