India’s largest hospitality company – Indian Hotels Company (IHCL) – announced that its brand Taj has achieved the distinction of being number one yet again on the list of the Strongest Indian Brands by Brand Finance in their ‘India 100 2022’ report.
As per this report, Taj achieved a brand strength index (BSI) score of 88.9 out of 100 and a corresponding elite AAA brand strength rating. The rating was based on marketing investment, stakeholder equity and business performance.
Speaking about the announcement, Mr. Puneet Chhatwal, MD & CEO, Indian Hotels Company said, "We are humbled that our iconic brand Taj has regained the top position as India's Strongest Brand across all sectors this year. This comes on the back of Taj receiving this honour in 2020 followed by it being the first Indian brand to be rated as the World's Strongest Hotel Brand in 2021 by Brand Finance."
"This recognition is a testament to our agility in re-imagining our strategic initiatives to stay relevant and achieve industry-leading performance, in spite of the many challenges in recent times. Throughout this journey, we have remained committed to the community by supporting the nation's fight against the pandemic. This award reaffirms the continued trust our guests, employees and all our stakeholders have in us, which we will continue to strengthen."
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.
(With agency inputs)