Luxury Institute Finds Small Luxury Hotels of the World To Be #1 Luxury Hotel Brand in Exclusivity, Price Worthiness & Most Likely To Be Referred
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Luxury Institute Finds Small Luxury Hotels of the World To Be #1 Luxury Hotel Brand in Exclusivity, Price Worthiness & Most Likely To Be Referred
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Category: Worldwide
This is a press release selected by our editorial committee and published online for free on 2006-05-04
Luxury Institute Finds Small Luxury Hotels of the World To Be #1 Luxury Hotel Brand in Exclusivity, Price Worthiness & Most Likely To Be Referred
In the newly released 2006 'Luxury Brand Status Index Survey,' the independent researchers at the New York-based Luxury Institute found Small Luxury Hotels of the World to be one of the top rated hotel brands overall and the highest scoring brand in the categories of Exclusivity, Price Worthiness and Willingness of Wealthy Consumers to Provide Referrals.
Placing third overall in the Luxury Brand Status Index just behind Ritz Carlton and Peninsula, Small Luxury Hotels of the World tied with Four Seasons and edged out such well-known brands as Mandarin Oriental, St. Regis and Leading Hotels of the World. "Ranking so high within an independent survey validates why so many hoteliers and consumers have come to rely on Small Luxury Hotels of the World to find the finest hotels in the world and deliver the most unique and luxurious experiences," commented Paul Kerr, Joint-Managing Director of Small Luxury Hotels of the World. "We couldn't be more pleased."
The Luxury Institute conducted Luxury Brand Status Index research for 19 leading hotel brands among wealthy U.S. consumers with a net worth of at least $750,000 and household income of at least $200,000. The LBSI incorporates four main "pillars" of value: consistently superior quality, exclusivity, a measure of enhanced social status, and a measure of the ability of a brand to make a customer "feel special". In addition to these components of brand value, the survey also measures a brand's ability to merit a significant price premium, and the willingness of wealthy consumers to recommend brands to people they care about.
CEO of The Luxury Institute Milton Pedraza commented, "A nationally representative sample of wealthy consumers, the most discerning of all, rated Small Luxury Hotels of the World the luxury hotel brand that is most unique and exclusive, the most worthy of a significant price premium, and the one that they are most happy to recommend to people they care about. For a boutique luxury brand to earn the respect and admiration from the objective and independent voice of the wealthy consumer is truly priceless and a tremendous accolade."
Other interesting survey results:
SLH has the highest brand awareness among consumers with net worth between $2-$5 million
SLH was identified as a true "Niche Brand"
SLH significantly outscored Leading Hotels of the World in every category of status index
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