June brought a good news for India in the times of COVID-19 as an Indian company, Indian Hotels Company (IHCL), which is South Asia’s largest hospitality company, announced that its iconic brand – Taj hotels ranked number one on the list of the strongest Indian brands by Brand Finance in their coveted ‘India 100 2020’ report. Taj has got the rare distinction of being ranked the highest across brands in all sectors.
Speaking to this writer about the announcement, Puneet Chhatwal, MD & CEO, Indian Hotels Company said, “We are humbled that Brand Finance has ranked Taj as the nation’s strongest brand. This recognition comes on the back of the relentless pursuit of Aspiration 2022 as South Asia’s most iconic and most profitable hospitality company. Our unique service philosophy, which we refer to as Tajness, emanates from the warmth and caring Taj has stood for over a century. We remain confident of being able to carry the trust of our guests, employees and all our stakeholders with an even stronger commitment.”
In this report, released by the world’s leading independent brand valuation consultancy, Taj achieved a brand strength index (BSI) score of 90.5 out of 100 and a corresponding elite AAA+ brand strength rating based on factors such as marketing investment, familiarity, loyalty, employee satisfaction, customer experience and corporate reputation.
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.
The Indian Hotels Company Limited (IHCL) and its subsidiaries bring together a group of brands and These include Taj – which started with India’s first five star hotel – the Taj Mahal Palace & tower in Mumbai and then spread all over the world, SeleQtions, a named collection of hotels, Vivanta, sophisticated upscale hotels and Ginger, which is revolutionising the lean luxe segment.
Incorporated by the founder of the Tata Group, Jamsetji Tata, the Company opened its first hotel – The Taj Mahal Palace, in Bombay in 1903. IHCL has a portfolio of 200 hotels including 42 under development globally across 4 continents, 12 countries and in over 100 locations. The Indian Hotels Company Limited (IHCL) is South Asia’s largest hospitality company by market capitalization. It is primarily listed on the BSE and NSE.