The Ritz-Carlton Takes Top Honors Among Global Luxury Hotel Brands In Luxury Institute Global Survey Of Affluent Travelers
NEW YORK, NY–(Marketwired – November 28, 2017) – The independent and objective New York-based Luxury Institute today released its 2018 Global Hotels Luxury Brand Status Index, featuring annual rankings and ratings of 40 global luxury hotel brands by affluent consumers from the world’s richest countries. The Luxury Institute surveyed 3,900 consumers from seven countries who represent the top 10% of households by annual income. The survey is conducted in China, Japan, U.K., Germany, France, Italy and the U.S.A. A special Mexico survey was also conducted.
Respondents rated each hotel brand on quality, exclusivity, social status, and the ability to make guests feel special. In addition, affluent travelers weighed in on whether they were willing to recommend specific brands to friends and family, whether a hotel brand is worth the premium pricing, and which hotels they are most likely to choose for upcoming travel.
The Ritz-Carlton, with an LBSI score of 7.95, earns the highest overall rating. LBSI scores range from 0-10, and are an average of respondents’ degree of agreement with each of the following statements:
- “This hotel delivers consistently superior quality.”
- “This hotel is truly unique and exclusive.”
- “This hotel is visited by people who are admired and respected.”
- “This hotel makes guests feel special across the full customer experience.”
Affluent consumers from the seven countries surveyed spend an average of 17 nights per year in hotels, with 76% reporting at least one luxury hotel stay during the past twelve months. Those who stay at luxury hotels stay an average of 11 nights per year. Affluent travelers from China (88%), Italy (83%) and the United Kingdom (81%) are most likely to report staying at a luxury hotel in the past year.
A vast majority (82%) of affluent luxury hotel guests cite leisure as the reason for their stay, while one-third (33%) report having some business purpose for their luxury hotel visit. Two-thirds (66%) report traveling with a spouse or partner, while only 9% report traveling with business colleagues. Solo travelers comprise 14% of luxury hotel guests.
“Today, top-rated brands in the luxury hotel category are those that are able to ensure consistent execution on the four pillars of value: quality, exclusivity, social status, and making guests feel truly special,” says Luxury Institute CEO Milton Pedraza. “When you are dealing with a global hotel brand that has dozens of worldwide locations, success is the result of intensive training and education of people in mastering Emotional Intelligence, complemented by the smart application of technology to run the business more efficiently and to market itself to consumers more effectively. Compelling and unique brick and mortar today are table stakes.”
In addition to Ritz-Carlton, other luxury hotel brands under consideration were, in alphabetical order: Aman Resorts, Armani Hotels, Banyan Tree, Club Med, Como Hotels and Resorts, Conrad Hotels and Resorts, Fairmont Hotels and Resorts, Firmdale Hotels, Four Seasons, Grand Hyatt, InterContinental, JW Marriott, Jumeirah, Kempinski Hotels, Langham, Le Meridien, Leading Hotels of the World, Loews Hotels, The Luxury Collection, Mandarin Oriental, Maybourne Hotels, Oberoi, Orient-Express Hotels, Pan Pacific, Park Hyatt, The Peninsula Hotels, Preferred Hotels & Resorts, Raffles Hotels and Resorts, Regent, The Rocco Forte Collection, Rosewood, Shangri-La Hotels & Resorts, Small Luxury Hotels of the World, Sofitel, St. Regis, Taj Hotels Resorts and Palaces, Trump International Hotels, W Hotels and Resorts, and Waldorf Astoria Hotels and Resorts.
The complete 2018 Global Luxury Hotel Luxury Brand Status Index, which includes a special Mexico report on global hotel brands, is available for purchase. For complete rankings and ratings, with additional insights from the Luxury Brand Status Index survey, visit www.LuxuryInstitute.com, or contact Luxury Institute CEO Milton Pedraza (email@example.com).