the hotel brand The Ritz-Carlton It is the luxury and premium firm that has grown the most in the world. Their brand value has increased by 112% this 2022, coinciding with the reopening of travel in much of the world, to reach 1,100 million dollars (about 1,108 million euros), according to the annual Brand Finance report that analyzes the 50 most valuable luxury brands in the world.
This growth can be attributed, according to the consultancy, “to their impressive revenue per available room that they have reopened after the pandemic.” In Santa Cruz de Tenerife, for example, where there is The Ritz-Carlton, Abamathe company’s only hotel in Spain, one of the 459 luxurious rooms and suites that houses costs this Wednesday night between 475 and 875 euros for two people. The suite room imperial, up to 6,100 euros. Furthermore, the report highlights that the American brand, part of the Marriott group, has built an extremely strong brand, with a brand strength index that has increased from 79.6 to 83.2 out of 100, earning a AAA brand rating.
The general director of Brand Finance Iberia, Pilar Alonso, maintains that the customer experience is essential for hotel brands. “In addition to The Ritz-Carlton, in the hotel sector there are other brands that have grown rapidly, such as Baymont, whose brand value is up 97%, or Residence Inn (brand value is up 92%). In all three cases, consumer sentiment and perceptions have been key to this growth,” he acknowledges.
Even so, The Ritz-Carlton remains in a discreet 48th position, in the penultimate position of the list. porscheinstead, remains the most valuable luxury and premium brand in the worldvalued at 33.7 billion dollars (almost 34 billion euros), which is 2% less than in 2021.
The consultant warns that the leadership of the German car manufacturer is good news for the brand, which has just been spun off by its owner, the Volkswagen Group, in an initial public offering on the Frankfurt Stock Exchange. “Porsche’s new IPO shows the value of a brand in a very visceral way, much like the Sergio Marchionne-led spin-off of Ferrari years ago. It made a lot of sense to extract hidden value within the Volkswagen group, especially when it comes to of an iconic luxury brand like Porsche, which can generate such returns compared to other brands in the portfolio,” says Brand Finance Director Alex Haigh.
The French follows in the ranking Louis Vuitton, with a brand value that increased by 58%, to 23.4 billion dollars (more than 23.5 billion euros). Brand Finance believes that the increase in spending on luxury products during the period of the pandemic, especially in China, has benefited it. “Covid-19 related restrictions benefited Louis Vuitton as consumers redirected their spending away from travel, hospitality and services towards high-end luxury goods,” he says.
Also noteworthy is the acceleration of Estee Lauder, which thanks to a 39% growth in brand value, reaching 7,900 million dollars (almost 8,000 million euros), manages to enter the top 10 in brand value. The American multinational cosmetics company has recently benefited from an increase in sales at airports, among other channels, due to the recovery of the tourism sector worldwide, something that has been well used.
The only Spanish representative in the top 50 of the consultancy remains one more year Loewe, which drops one position, to 34th position. Even so, the Spanish luxury retailer has increased its brand value by 7% this year and now faces challenges similar to those of Louis Vuitton: managing its brand through strong digital marketing campaigns focused on attracting new customer bases. , while maintaining a brand heritage steeped in rich history. “Loewe has represented Spain in this ranking since 2018. It is one of the brands most considered by consumers in Spain, who highlight its familiarity compared to others in the sector,” says Alonso.