Hilton has overtaken Marriott as the world’s most valuable hotel brand, but that can’t make Hilton the most valuable brand in the tourism industry.
Royal Caribbean International has narrowly retained its position as the world’s most valuable leisure and tourism brand, with its brand value remaining steady at US$3.8 billion, according to the Brand Finance. The brand reported strong financial results in 2018, and with demand high in the cruise industry, Royal Caribbean is on course for future growth.
Meanwhile, second-ranked TUI (brand value up 4% to US$3.7 billion) substantially closed the gap to the ranking’s leader, only just falling short of overtaking Royal Caribbean.
Chinese brands surge
The fast-growing China International Travel (up 70% to US$3.7 billion) has come third this year, up from 5th in 2018. China International saw a significant increase in its valuation due to a surge in forecast revenue in coming years as the Chinese tourism market continues to develop with unprecedented speed and scale.
The fastest-growing brand in the ranking also comes from China. Happy Valley almost doubled its brand value in a single year (up 97% to US$2.0 billion).
Savio D’Souza, Valuation Director at Brand Finance, commented, “Royal Caribbean International remains the world’s most valuable leisure and tourism brand but is being challenged by broader economic changes. The significant growth achieved by Chinese travel brands is powered by the country’s burgeoning middle class as it is increasingly able to travel internationally.”
