According to a new international ranking analysis, two of Cayman’s premier hotel brands are amongst the top seven most-sought worldwide.
The report was part of the World Luxury Index, an international ranking and analysis of the most sought after brands within the luxury industry. This study covered 70 luxury hotel brands within 10 key luxury markets and provided insights on the interest coming from luxury consumers. The information was derived from 133 million consumer online searches.
The top 50 index for 2012-13 was topped by Hilton, with Sheraton ranked second and Westin third. The Ritz-Carlton international brand was ranked seventh. JW Marriott came in at 12th overall.
The study, by Digital Luxury Group with the support of the Chair of Luxury Hospitality of Ecole hôtelière de Lausanne and Luxury Society uncovered a number of interesting findings.
Global interest for luxury hotels remained stable at plus 1.5 per cent, read the report, with US consumers express the largest interest for luxury hotel brands globally (66.3 per cent of the total), but strong demand growth was fuelled by Russians (plus 12.8 per cent), British (plus 8.5 per cent) and Chinese (plus 3.3 per cent) who become the fastest growing luxury hospitality consumers.
Signs of demand decline were recorded in Italy (minus 14.3 per cent), Brazil (minus 12.1 per cent) and Japan (minus 11.1 per cent)
Indeed, over 75 per cent of the leading hotel chains were American in origin. Most-searched city was New York and Washington DC was the fastest-growing destination.
Ritz-Carlton led growth with a rise of 12.07 per cent in general, but the Upper Upscale category, which accounts for a third of all luxury hotels, captured three quarters of global interest but was slightly down at minus 1 per cent.
The Brazilian, Russian, Indian and Chinese markets, known as the BRIC economies, were generally buoyant.
With plus 12.8 per cent growth, Russia leads the BRIC markets. Brazil is showing slight regression since last year at minus 12.1 per cent. Fastest growing hotels in the BRIC were Shangri-La hotel in Brazil (plus 72 per cent), Hyatt Regency in Russia (plus 89 per cent), Ritz-Carlton in India (plus 59 per cent – property set to open Summer 2013) and St. Regis in China (plus 56 per cent ). Most popular international destinations from BRIC markets were Miami and New York for Brazilian travellers, Hurghada and Dubai for Russians, Dubai and Singapore (Indians), Hong Kong and Singapore (Chinese).