Luxury Brand Value Surges — But Lags in Hospitality Sector
Photo Credit: Luxury Row, adjacent to the Ritz-Carlton Residences Waikiki Beach, is home to many of the luxury fashion brands featured on Interbrand's list. The Ritz-Carlton Residences, Waikiki Beach
Skift Take
Within the travel industry, brands like Ritz-Carlton and Four Seasons loom large. But according to a just-released study of brand valuation, in the real world, hospitality brand names don't carry as much weight as their high-end counterparts in other industry sectors. To address this, companies like Marriott and Hilton are focusing on establishing ironclad loyalty offerings.
Interbrand has once again released its rankings of the world’s 100 most valuable brands — and once again, travel companies are almost nowhere to be found. Apple, Google, and Amazon rank one, two, and three, according to the global branding consultancy’s Best Global Brands 2019 report. Aside from technology, brands representing not only the automotive, fashion, and consumer packaged goods industries but also retail and financial services dominate the list. The only travel-related companies to make the cut are Disney at No. 10 and Uber at No. 87.
“Today, there is no question as to whether brands have intrinsic value or not,” noted Charles Trevail, CEO of Interbrand. “Millennials and Gen Z continue to push companies to redefine what effective brand-building means — and increasingly, what it means to be a truly valuable brand in their eyes.”
“The world’s most successful brands are those that have placed customer-centricity and digital transformation at the heart o
