Hilton has overtaken Marriott as the world’s most valuable hotel brand, driven by strong revenue increases over the last year.
According to the Brand Finance Hotels 50 ranking, Hilton’s brand value growth is up 17 percent to $7.4 billion.
The same ranking reveals that Marriott suffered a reduction in brand value, down eight percent to $5 billion and its brand strength dropped from AAA- to AA+.
This news about Marriott comes as the company grapples with several challenges in the North American market including hacking scandals and issues with its loyalty schemes.
”Hilton’s strategic approach to brand growth has allowed it to extend its lead as the world’s most valuable hotel brand. At the same time, endorsement from the flagship brand has rendered benefits across the portfolio as Homewood Suites, DoubleTree, and Hampton have seen their brand values soar,” said Savio D’Souza, valuation director at Brand Finance, said.
The combined value of all Hilton brands which made this year’s top 50 ranking amounts to $14.7 billion – nearly $2 billion more than Marriott’s $12.9 billion portfolio.
Hilton Worldwide Holdings achieved overall brand value growth of 41 percent, while the Marriott International brand portfolio decreased by 30 percent.
The new ranking also reveals the three hotel brands that grew the fastest in value this year. All of them are from Hilton’s portfolio.
(With Agency Inputs)