MUMBAI, JUNE 08th, 2023: Indian Hotels Company (IHCL), India’s largest hospitality company, announced that its iconic brand – Taj has secured the No. 1 position on Brand Finance’s coveted ‘India 100 2023’ report, marking it the third time the brand has achieved this distinction.
Speaking about the announcement, Mr. Puneet Chhatwal, Managing Director & CEO, Indian Hotels Company said, “We are extremely delighted that Taj has once again been recognized as India’s strongest brand across sectors for the third time. This comes on the back of Taj also being the first Indian brand to be rated as the World’s Strongest Hotel Brand in 2021 and 2022 by Brand Finance. This remarkable achievement is a testament to our unwavering commitment to excellence, innovation, and creating exceptional experiences for our guests. We are grateful to our loyal patrons and dedicated team members who have played an integral role in making Taj the epitome of hospitality and luxury.”
Released by the world’s leading independent brand valuation consultancy ‘Brand Finance’, the report shows Taj achieving brand strength index (BSI) score of 89.4 out of 100, a growth of 0.5% over the previous year and a corresponding elite AAA brand strength rating based on factors such as marketing investment, familiarity, loyalty, staff satisfaction, and corporate reputation.
As per the report, “Taj has retained its No.1 position in Brand Strength from last year. Taj Hotels brand, in the post pandemic travel demand, has repurposed its commitment to sustainability with multiple initiatives under Paathya strategy while also being laser focused on expanding its footprint through organic & inorganic growth always ensuring the best-in-class hospitality standards that it is renowned for.”
Brand Finance defines Brand Strength as the efficacy of a brand’s performance on intangible measures, relative to its competitors. Each brand is assigned a BSI score out of 100, which feeds into the brand value calculation. Based on the calculations, each brand is assigned a corresponding rating up to AAA in a format similar to credit rating.