Hotels502025TheannualreportonthemostvaluableandstrongesthotelbrandsBrand

Finance

RAboutBrandFinanceBridging

thegapbetweenMarketingandFinanceBrandFinancewassetupin1996withthe

aimof'bridging

thegapbetweenmarketing

andfinanceI.Formorethan25years,wehavehelpedcompaniesandorganisations

ofalltypestoconnecttheirbrands

to

the

bottomline.Quantifyingthefinancial

valueofbrandsWeputthousandsoftheworld’sbiggest

brandstothe

testevery

year.Rankingbrandsacrossallsectorsandcountries,

wepublishover100reportsannually.UniquecombinationofexpertiseOurteamshaveexperienceacrossawiderangeofdisciplinesfrommarketingandmarketresearch,

tobrandstrategyandvisualidentity,

to

taxandaccounting.Pridingourselveson

technicalcredibilityBrandFinance,acharteredaccountancyfirmregulatedbytheInstituteofChartered

AccountantsinEnglandandWales,isthe

firstbrandvaluationconsultancyto

jointhe

InternationalValuationStandardsCouncil.Our

experts

crafted

standards(ISO10668

and

ISO20671)and

our

methodology,certifiedbyAustrianStandards,isofficially

approvedbytheMarketingAccountability

StandardsBoard.The

world'sleadingbrand

valuationconsultancyForbusinessenquiries,pleasecontact:enquiries@Formediaenquiries,pleasecontact:press@brandf+442073899400www.brandfinContentsForeword

5DavidHaigh,Chairman&CEO,BrandFinanceSectorOverview6Valuation

Analysis

8MostValuableHotelBrands2025

9MostValuableBrand:Hilton

10BrandStrengthAnalysis11LuxuryHotels

14BrandValue&BrandStrength

RankingLeisure&Tourism

16BrandValue&BrandStrengthAnalysisSustainability

Analysis

18BrandSpotlights20Hilton

21ChrisSilcock,President,Global

BrandsandCommercialServicesTaj

24

PuneetChhatwal,MD&CEO,IHCLHotels

BrandValueRanking(USDm)27Leisure&Tourism

BrandValue

Ranking(USDm)

28

Methodology

29

OurServices35?2025All

rights

reserved.

Brand

Finance

Plc.Brand

Finance

Hotels502025

brandirectory.com/hotels

3Hiltonchecks

inat#1for10th

yearrunning+

Hilton

is

the

world’s

most

valuable

hotel

brand

for

the10th

year

running,brand

value

up30%to$15.1billion+

Taj

ranks

as

the

world’s

strongest

hotel

brand

witha

BSI

score

of92.2out

of100+

Total

brand

value

of

the

top50hotel

brands

rises4%to$58.8billion+

Marriottclimbsto3rd

place,overtakingHamptonInninthe

valueranking+

Premier

Inn

surges

into

the

top

five

for

brand

strength,

up

from22nd

last

yearTheglobalbusinesslandscapeisconstantlyevolving,shapedbyeconomicshifts,

technologicaladvancements,andchangingcustomerexpectations.In

thisdynamic

environment,strongbrandscontinue

tostandaskeydriversofbusinesssuccess,

enablingorganisations

todifferentiate

themselves,attractloyalcustomers,andbuildresilienceinanincreasinglycompetitiveworld.TheenduringimportanceofbrandstrengthissupportedbyBrandFinance’s

extensiveresearch.Awell-managedbranddeliversmeasurablevaluebeyond

customerattractionandretention–itenhancestalentacquisition,investor

confidence,andorganisationalagility.In

today’smarketplace,astrongbrand

isnot

justanassetbutastrategicimperative.BrandFinancehasdeepeneditsinvestmentinunderstandingcustomerperceptionslikeneverbefore.Thisyear,theBrandStrengthIndexhasevolvedtoincludemetricsbasedonfamiliarityandperceptionsofbothfunctionalcredibility

andemotionalappealversuscompetitors.

Thisupdatedmodelisdesigned

tobepredictiveofgrowth,capturing

thedriversofvaluesuchasincreaseddemand,higher

willingness

topay,andstrongercustomeradvocacy.

Theinsightsgatheredfromover170,000respondents

across41sectors

and31countries

in

this

year’s

Global

500reporthighlight

theimportanceof

thesefactorsinshaping

theworld’sstrongestandmostvaluablebrands.Apersistentchallengeis

theassumption

thatChiefFinancialOfficers(CFOs)areopposedtoinvestinginbrands,butwebelievethisisamisconception.AmbitiousCFOsunderstand

thatastrongbrandsupportsbusinesssuccessbutmany

arereluctanttoallocateresourcestowardlong-termbrand-buildingwithoutdatasupportingthisapproach,oftenresultinginaprioritisationofshort-termperformance

marketing.Thefindingsfromthisyear’sreportunderscoretheimportanceofdatain

aligningtheprioritiesofcorporateleaders.BrandvaluationempowersCFOstoinvest

inbrandwithconfidence,resultinginbusinessdecisionsfocusedongrowingandenduringbrandvalueandstrength.Whetheryouareaimingtostrengthenyourbrandorquantifyitscontributiontoyourbusiness’ssuccess,

theBrandFinance

teamishere

tosupportyouwith

brandvaluations

thatalignmarketingandfinance

toaccelerategrowth.Weinvite

youtoexploretheinsightswithinthisreportandcollaboratewithusinshaping

amoreprofitableandsustainablefutureforyourbrand.Brand

Finance

Hotels502025

brandirectory.com/hotels

5ForewordDavid

HaighChairman&CEO,

BrandFinance

SectorOverviewTheshifttohybridandremoteworkingmodelshaschangedthenatureofcorporatetravel,whenitdoesoccur,ittendstobelonger,withemployees

combiningmeetings,events,and

trainingsintofewer,

extendedtrips.However,economicuncertaintyremainsaconcern.In

the

Leisure&Tourism

sector,the

total

brandvalueof

theworld’s

top25mostvaluablebrandsbrand

value

grew

an

impressive22%to

USD71.9billion.Cruiselines,oneof

thelastsegmentstorecoverpost-COVID,havemadeastrongcomeback,

withcruisebrandsintherankinggrowing57%year-on-year.RoyalCaribbeanInternationalleadsthisgroup,bolsteredbythelaunchoftheworld’slargest

cruiseships-

theOasisandIconClassvessels-underscoringrenewedconfidencein

thesegment.Thecombinedvalueoftheworld’s

top50most

valuablehotelbrandshasrisen4%toUSD58.8

billion.Inmanyregions,brandvalueshavenow

surpassedpre-COVIDlevels,reflectingsustainedglobaldemandfor

travel.Occupancyrates,AverageDailyRates(ADR),

andRevenueperAvailableRoom(RevPAR)all

increasedin2024comparedtotheprevious

year,drivenbytheongoing

‘revengetravel’trendandamoreresilientconsumerappetite

forexperiences.Asia-Pacificsaw

thefastestgrowth,drivenby

highlevelsof

travelfromChina.Leisuretravel

continuestoleadtherecovery,whilebusiness

travelhasreboundedmoregradually.Brand

Finance

Hotels502025

brandirectory.com/hotels

7SectorOverview

Valuation

AnalysisThetotalbrandvalueofthetop50hotelbrandshas

risen4%year-on-year

to

USD58.8billion,as

thesectorcontinuestoreboundfromthedisruptionofthe

COVID-19pandemic.Hilton

retains

its

positionastheworld’smostvaluablehotelbrand,supported

byrobustglobalexpansionandasharpenedfocus

onlifestyleandluxuryofferings.Hyatt

(brand

value

up32%to

USD8.0billion)sits

insecondplace,supportedbysustaineddemandandastrongdevelopmentpipeline.

Thebrandcontinuestoachievesteadynetroomsgrowthandhasexpanded

its

pipeline

to

a

record129,000rooms

as

of

Q12025.Recentadditionsinclude18newpropertiesacross

keymarkets,suchasParkHyattChangshaand

the

firstDestinationbyHyatthotel

in

Peru.Marriott

(up20%to

USD3.8billion)climbs

to

thirdplace,overtakingHamptonInn.

Thebrandaddedarecord123,000new

rooms

in2024and

signed1,200

deals,reflectingglobalexpansionacrossall

tiers.Marriott’sgrowthhasbeenbolsteredbyenhancements

toitsloyaltyprogramme,improvedrelationshipswith

travelmanagementcompanies,andinvestmentsinsustainabilityandAI-drivencustomerservice

tools.HamptonInn(down25%toUSD3.1billion)dropstofourth.Whilestillarevenueleader-generatingover

USD10billion

in

gross

room

revenue

in2022-thebrandfacesincreasedcompetitionin

themidscale

segment.Operatingprimarily

throughafranchisemodel,

HamptoncontinuestobeakeycontributortoHilton’soverallperformance,supportedbystrongRevPARand

widespreadbrandrecognitionacross

theUSmarket.Shangri-La

(down23%to

USD1.5billion)movesintothetopfive,upfromseventhlastyear.Despitethedeclineinvalue,thebrandhasreturnedtopre-pandemicprofitability,withmarginsexceedinghistoric

levels.Itsexpansionstrategyincludesdual-brandconceptsandmixed-usedevelopments,withrecent

openingsinShenzhenandKunmingandfurtherlaunchesplannedacrossmainlandChina.DoubleTree

(down39%to

USD1.3billion)sits

in

sixth,

Sheraton

(up10%to

USD1.3billion)ranks

seventh,Holiday

Inn

(down56%to

USD1.2billion)drops

toeighth,InterContinental(up37%toUSD1.2billion)sits

to

ninth

and

Courtyard

(up27%to

USD1.2billion)

roundsoutthe

top

ten.#2

Hyatt

#3MarriottMAR

RIOTT$3.8bn+20%#4Hampton

Inn

$3.-12

#5SHAN

RI-LAHOTE

LSand

RE

S

O

RT

SShangri-La

$1.-52

#6DOUBLETREEB

YH

I

LTO

N

"$1.3bnDouble

Tree

-39%#7$1.3bnSheraton

+10%#8Holiday

Inn

$1.-25

#9INTERCONTINENTAL.H

T

E

L

S

&

R

E

S

○

RT

SIntercontinental

%n%n%nMostValuableHotel

Brands2025$1.2bn#10C。U

RTYBYA·A·R..

·DTT

Courtyard

+27%Top

10MostValuable

?

Brand

Finance

Plc.

2025HotelBrands2025Brand

Finance

Hotels502025

brandirectory.com/hotels

9$15.1bnHilton

+30%#1Hiltonretainsitspositionastheworld’smostvaluable

hotelbrandforthetenthconsecutiveyear,followinga

30%brand

value

increase

to

USD15.1billion.The

brand

continues

tobenefitfromstrongglobalperformance

andarobustcommercialstrategy,underpinnedbyexpansionacrossluxuryandlifestylesegments.AccordingtoBrandFinanceresearch,Hiltonattains

marketleadingpreferencelevelsandrankshighlyforfamiliarityacrossmajormarkets.Hiltoncurrentlyoperates

more

than8,600properties

with

nearly1.3

millionroomsworldwide,reflectingsustainedgrowth

inbothestablishedandemergingregions.Luxuryandlifestyleopeningsrepresentednearlyhalf

ofHilton’ssystem-wideadditionsin2024,following

theintegrationofGraduateHotelsandNoMadHotels,

and

thelaunchofanexclusivepartnershipwithSmall

LuxuryHotelsoftheWorld.Thesemoves,alongwith

organicgrowthforHilton’sbrands,bringHilton’stotal

luxuryandlifestylefootprintto1,000hotelsglobally.TechnologyremainscentraltoHilton’sstrategy,withinnovationssuchasDigitalKeyandin-approom

selectionshapingamoreseamlessguestexperience.AsHilton’sflagshipbrand,HiltonHotels&Resortsprepares

to

expand

into

its100th

country

and

territory

in

2026,

thebrand’sscale,diversification,andinvestment

incustomer-focusedinitiativescontinue

tosupportits

leadingpositionin

thehospitalitysector.

HiltonBrandValueTrendLine

|2016-2025(USDbn)?

Brand

Finance

Plc.

2025MostValuableBrandHiltonBrand

Finance

Hotels502025

brandirectory.com/hotels

1020162017201820192020202120222023202420251612840BrandStrength

AnalysistionsKnowledgend

PercepCredibilityBraAppealvioursSelectionmerBehaAdvocacyCustoPriceAcceptanceGlobal

Top

10

?

Brand

Finance

Plc.

2025StrongestHotelBrands2025#1

Taj

92.2#2ScandicHotels91.3#3Marriott90.0#4Centara

Hotel&

Resorts87.9#5Premier

Inn87.0Taj

is

the

world’s

strongest

hotel

brand,with

aBrand

Strength

Index(BSI)score

of92.2out

of100.

TheIndianhospitalitygroupperformsexceptionally

wellinitshomemarket,scoringperfect10sforbrand

knowledgeandselection.Taj’sreputationforluxury

andserviceiswellestablished,reflectedinits97%awareness,91%familiarity,and38%preference

scorein

India.ScandicHotelsranksasthesecondstrongesthotel

brand,with

a

BSI

score

of91.3.#6Hilton85.0

#7EmbassySuites82.2#8The

Ritz-Carlton80.9#9Barceló80.9Premier

InnBrandStrengthAttributesHeatMap

?

Brand

Finance

Plc.

2025Weakerperformance

oooo●StrongerperformanceFactor

UnitedKingdomGermanyLOCAL

LEADERS:BrandStrengthiscalculatedwithinbrands’addressablemarkets.Somebrandsfocusontheirlocalmarketswhereassomeareinternational.Whenaveragingbrandstrength,

internationalbrands’strengthwilloftenbecomelowerthansinglemarketbrands

becausemaintainingaleadershipposition

canbedifficultacrossmultiplemarkets.BrandStrengthAnalysisBrand

Finance

Hotels502025

brandirectory.com/hotels

12#10

Shangri-La

80.8ItisparticularlydominantinSweden,whereitenjoys98%awarenessandhigh

trustmetrics-52%

ofSwedishrespondentsreportstrongconsideration,

and81%saytheyareloyaltothebrand.Althoughslightly

down

from90%loyalty

in2022,this

remains

oneofthehighestintheindustry.Withaveryhighscore

for

a“brand

I

love,”Scandic

continues

tocultivatedeepemotionalresonanceamong

domesticaudiences.Marriott

is

the

third

strongest

hotel

brand

in

theworld,with

a

BSI

score

of90.0.In

the

US,the

brand

achieves92%awarenessandahighpricepremiumacceptancescore-overhalfofrespondents

describeitas“expensivebutworththeprice.”Marriott’sbrandstrengthextendswellbeyonditshomemarket,withconsistentlystrongscores

in

the

UAE,UK,Germany,and

China.PremierInnmakesoneofthebiggestmovesintheBSIranking,risingfrom22nd

tothefifthstrongesthotelbrand.IntheUK,thebrandenjoys

96%awarenessand60%strongconsideration.

Withsolidtrustscoresandperceivedvalue,PremierInncontinuestobenefitfromsteady

domesticdemandandevent-driventravel.Brand

Finance

Hotels502025

brandirectory.com/hotels

13BrandStrengthAnalysisLuxuryHotelsBrandValue&BrandStrength

RankingTop

10MostValuable

?Brand

Finance

Plc.2025LuxuryHotelBrands

2025#1

Hilton

$15.1bn

+30%#2

Hyatt$8.0bn+32%#3

Marriott$3.8bn+20%#4

Shangri-La$1.5bn-23%#5

Sheraton$1.3bn+10%#6

Intercontinental$1.2bn+37%#7

EmbassySuites$1.2bn-10%#8

The

Ritz-Carlton$1.0bn+36%#9

Westin$0.8bn+5%#10

Crowne

PlazaGlobalTop

10StrongestLuxury

Hotel$0.8bn?BrandFinanceBrands2025+16%Plc.2025#1

Taj92.2#2

Marriott90.0#3Hilton85.0#4

EmbassySuites82.2#5

The

Ritz-Carlton80.9#6

Shangri-La80.8#7

JI

Hotel79.8#8Melia79.3#9

Wyndham72.6LuxuryHotelsBrandValueandBrandStrengthRankingBrand

Finance

Hotels502025

brandirectory.com/hotels

15Hyatt#1071.4Leisure&TourismBrandValue&BrandStrength

AnalysisTop

10MostValuable

?Brand

Finance

Plc.2025Leisure&TourismBrands2025#1booking.com

$10.5bn

+1%#2Airbnb$7.0bn+2%#3T$5.4bn+23%#4TUI$4.9bn+21%#5RoyalCaribbeanInternational$4.8bn+17%#6NorwegianCruise$3.4bn+87%#7TokyoDisney

Resort$3.1bn+18%#8E$2.9bn+35%#9AMCTheatres$2.8bn+73%#10

Carnival

Cruise

Line$2.6bn

+86%GlobalTop

10

?Brand

Finance

Plc.2025StrongestLeisure&TourismBrands2025#1

Happy

Valley97.0#2TokyoDisney

Resort92.9#3AIDA91.4#4AMCTheatres90.6#5Legoland90.1#6T89.3#7P&O

Cruises89.2#8TUI85.9#9Ticketmaster81.7With

a

brand

value

of

USD10.5billion,Booking.com

remainsthemostvaluableLeisure&Tourismbrand

globally,holding

the

toppositionsince2022.

Thebrandhasrestoreditsvaluetopre-COVIDlevels,drivenbystrongrevenuegrowthandrecordmargins

asglobaltraveldemandrebounds.Whilestill15%

belowits2019peak,

Bcontinues

toleadthroughitsbroadinventory,customerreach,

andmarketingscale.ThethemeparksegmentcontributesUSD8.4billionto

total

brand

value

in

the

ranking,led

by

TokyoDisneyResort.AnotabledevelopmentthisyearisthemergerofCedarFairandSixFlagsundertheSixFlagsEntertainmentbrand,nowvaluedatUSD2.4billion.

Thishascreatedthelargestandmost

diverseamusementparkoperatorinNorthAmerica,

strengtheningitsmarketpresenceandbrandimpact.Happy

Valley

is

the

strongest

brand

in

the

Leisure&Tourismranking,achievinga13-pointincreaseinitsBrandStrengthIndexscoreanda48%riseinbrandvalue.AccordingtoBrandFinanceresearch,theChinesethemeparkoperatorleadsinkeymetrics

includingpricepremium,consideration,andpreference.

HappyValley’sgrowthreflectstherisinginfluenceandprofitabilityoflocalbrandsinChina’sleisure

sector,supportedbystrongbrandaffinityandoperationalexcellence.Leisure&TourismBrandValueandBrandStrengthAnalysisBrand

Finance

Hotels502025

brandirectory.com/hotels

17#10

RoyalCaribbeanInternational79.9

Sustainability

AnalysisSustainabilityplaysameaningfulroleindrivingconsumerconsiderationinboththeHotelsandLeisure&Tourism

sectors,with10.5%and10.2%ofrespondentsrespectivelyidentifyingitasakeyfactor.Brandsin

thesesectorsareactiveinmanaging

theiroperationalfootprintsacrosswaterandenergy,

waste,andlocalcommunityengagement.Withinthehotelsector,Spanishbrandsleadonsustainabilityperceptions.Barcelórankshighestontheenvironmentalpillar,supportedbyinitiativesinenergyefficiency,sustainableconstruction,andcircularity,allcorecomponentsofits

REGENstrategy.Meliatopsboththesocialandgovernancepillars,

reflectingitsstrongcommitments

toemployeeengagement,inclusiveleadership,and

transparent

ESGperformancetrackingalignedtotheUNSustainableDevelopmentGoals.In

the

Leisure&Tourism

sector,Japan’s

TokyoDisneyResortranksfirstacrossallthreesustainability

categories.OperatedbyOrientalLandCo.,theresort

hasimplemented

initiativesrangingfromrenewableenergyuseandwasterecycling

toinclusiveworkplace

practicesandstrongESGoversight.Itsleadershipreflectsa

comprehensiveandintegratedapproach

to

sustainability,underpinnedbycleartargets,board-level

accountability,andongoingstakeholderengagement.GroupBrandValue$Brand

Valueiscalculated

for

thebrandinaccordancewith

ISO10668.SustainabilityDriver

(%)HighImportance%LowImportanceContributionofsustainability

tobrandvaluedeterminedusingdriversIanalysisI.SustainabilityPerceptionsScorePerceptionsof

thebrandIscommitment

tosustainabilityare

transformedintoscores

thatmodifythe

final

value.SustainabilityPerceptionsValueTheproportionofbrandvalue

thatisattributabletosustainabilityperceptions.

Valuing

Sustainability

Perceptions

?

Brand

Finance

Plc.

2025SustainabilityAnalysisBrand

Finance

Hotels502025

brandirectory.com/hotels

19ISO10668$XX=

BrandSpotlightsBrand

Finance

Hotels502025

brandirectory.com/hotels

21Brand

Value#

1=USD15.1bn

+30.2%BrandStrength#6

▲BSI85.0-2.3

Hilton⑩Hiltonhasbeenaleaderinhospitalityformorethanacentury.Howhasthe

companycontinued

toevolve,andwhatroledoesinnovationplayinshaping

theguestexperience?Hiltonwasfoundedonthebeliefthattravelcanmaketheworldabetterplace,

andthatvisioncontinuestoinspireustoday.Formorethan100years,we’ve

builtourreputationondeliveringreliableandfriendlyhospitality—welcoming

guestswithexceptionalservice,nomatterwhereorwhytheytravel.Atthesametime,innovationhasalwaysbeenapartofourDNA.Wecontinue

toevolvetheguestexperiencethroughproduct,service,andtechnologytomeet

theever-changingneedsof

travelers.Whether

throughdesign-forwardspaces,elevatedservice,orenhancedwellness

andfoodandbeverageofferings,ourfocusisonmaking

travelmorepersonalized

andrewarding,informedbydeepcustomerresearchandinsights.Technologyplaysacriticalroleinthisevolution—innovationslikeDigitalKey,in-approomcustomization,andguestmessagingallowguests

to

takecontroloftheirstayslikeneverbefore.ByintegratingpartnerslikePelotonandCalmintoourConnectedRoomExperience,we’remakingiteasierfortravelerstofeel

athomeontheroad.Thiswillenableanewlevelofdigitallypoweredengagement

andserviceateverytouchpointofthecustomer

journey.Hiltonhasachievedrecord-breakinggrowthinrecentyears.What’sdriving

thissuccess,andhowis

thecompanyexpanding

tomeetdemand?Ourgrowthisbuiltonthepowerofourindustry-leadingbrands,strongownerrelationshipsandreturns,andhyper-focusonthecustomerexperience.Withone

ofthemostdiversebrandportfoliosinhospitality,ourgoalistoprovideanofferingateverypricepointforeverytripoccasion.In2024alone,we

opened

nearly100,000rooms,marking

the

largest

single-yearincreaseinHilton’shistory.Thismomentumisfueledbyexpansioninthelifestyle

andluxurysegments,includingtheadditionsofGraduatebyHiltonandNoMad,

aswellasourexclusivepartnershipwithSmallLuxuryHotelsoftheWorld(SLH).Withnearlyhalfofouropeningslastyearintheluxuryandlifestylecategory,

thisportfoliohasnowgrowntomorethan1000hotel