Who’s best in the luxury market? Ritz-Carlto, if you pay attention to the 2005 Luxury Brand Status Index Survey.
The group, which only surveys wealthy consumers with household incomes above $200,000 (with an average net worth of at least $2 million), rated fifteen luxury hotels.
Said Milton Pedraza, CEO of the Luxury Institute:
“Ritz-Carlton consistently outperformed the competition in all four critical attributes of a luxury brand, scoring an overall rating of 81 vs. 77 for Four Seasons and 66 for St. Regis.”
The critical factors hotels were rated on include consistently superior service, exclusivity and uniqueness, overall customer experience and social status.
The Institute said Ritz-Carlton and Four Seasons were rated by far to be the brands most worth price premiums.
Mr. Pedraza said the survey showed that some luxury hotel brands “need to go to school on these winners and improve their performance significantly.”
Report by David Wilkening
