The largest brands in the hotel sector were affected by heavy losses, due to the impact of the Corona pandemic on the sector, which led to many closures.
According to Arab Net, besides the travel and aviation sector, the hotel sector was one of the most affected by the repercussions of the Corona pandemic last year, which prompted the closure of many of them as a result of the suspension of passenger and tourism Which led to a decline in the market value of the largest brands in the hospitality sector.
A BRAND FINANCE report showed that the total value of the top 50 hotel brands around the world declined by 33% to more than $47 billion this year, compared to more than $70 billion last year. past.
Despite losing nearly 30% of its value, Hilton topped the list of the most valuable hotel brands with a value of $7.6 billion.
HYATT has succeeded where the rest of the hotel brands have failed, and this year its brand value rose 3.6% to jump to second place with a value touching $4.7 billion.
The HOLYDAY INN brand came third on the list, with a value of $3.7 billion, having lost 16% of its value as a result of the pandemic.
HAMPTON came in fourth place in the largest hotel brands, valued at $2.68 billion, after losing 26% of its value.
MARRIOTT was the most affected by the closures, which resulted in a loss of more than 60% of its brand value to reach $2.4 billion and fell to fifth place this year compared to the second competitor Previously for Hilton.
