Luxury Travel Intelligence, a renowned authority in the world of luxury travel, has officially revealed its prestigious ranking of the World’s Best Luxury Hotel Brands for 2023. This year, a notable shift in the rankings has occurred, with the esteemed Mandarin Oriental brand claiming the coveted top position for the first time.
The distinguishing feature of LTI’s assessment process lies in its utilization of a meticulously constructed algorithm, a culmination of insights gathered over the past year. This algorithm methodically assesses the performance and values of luxury hotel brands, offering an exceptionally comprehensive evaluation.
In the current year, the algorithm consists of 130 distinct touch points, each assigned a weighted score value. The cumulative maximum score attainable through this evaluation process stands at 4663. To craft this unique report, LTI’s researchers engage with a wide spectrum of stakeholders, ranging from CEOs of the rated hotel brands to thousands of managers, staff, and guests. This intensive approach ensures that their assessment is well-rounded and representative of the luxury travel sector.
A key distinguishing characteristic of LTI’s methodology is its annual renewal. The results from previous years are entirely disregarded when evaluating the following year. This approach leads to an inherent volatility in the annual rankings, but it aligns with the ever-evolving nature of the luxury hotel industry, reflecting the current state of affairs.
Additionally, a major factor taken into account in this evaluation is the ongoing investment and its effective utilization, particularly in the development of new properties and the refurbishment of existing ones.
Mandarin Oriental, a consistent performer in LTI’s annual reports, has surged to the top spot this year. Their performance across all touch points has further improved, securing their position as the World’s Best Luxury Hotel Brand for 2023. This brand has garnered a loyal and growing following due to its unwavering commitment to excellence. The opening of their London Mayfair property is anticipated to be a pivotal moment for the brand’s future.
In a noteworthy development, two Asian luxury hospitality giants have made their debut in the top 12 this year. Both Peninsula and Raffles have demonstrated their dedication to providing the pinnacle of global luxury hospitality. While these brands have always been contenders, they are now substantiating their value through the intricacies of LTI’s algorithm.
The 2023 rankings, presented as percentages, along with the previous year’s positions in brackets, are as follows:
1. Mandarin Oriental: 81.4% (2)
2. Oetker Collection: 81.3% (6)
3. Auberge: 79.6% (4)
4. Six Senses: 79.0% (1)
5. Aman: 78.8% (5)
6. Belmond: 76.3% (8)
7. Four Seasons: 76.1% (9)
8. One&Only: 75.1% (7)
9. Rocco Forte: 73.8% (11)
10. Rosewood: 72.1% (3)
11. Peninsula: 69.8% (New Entry)
12. Raffles: 68.5% (New Entry)
Furthermore, LTI continues to monitor other brands that met the threshold for sufficient ratings throughout the year. These brands, listed alphabetically, include 1 Hotels, Alila, Anantara, Banyan Tree, COMO, Dorchester Collection, Firmdale, Jumeirah, Leela, Oberoi, Park Hyatt, Ritz Carlton, Shangri-La, Soho House, Red Carnation, St. Regis, Taj, The Luxury Collection, and Viceroy.
In addition to these, brands with fewer than ten properties (the minimum requirement for consideration) that demonstrate high performance according to LTI’s algorithm are closely monitored. These brands, listed alphabetically, consist of Airelles, Althoff Collection, Bulgari, Capella, Cheval Blanc, JK Place, La Reserve, Maybourne, Montage, Nikki Beach, Pendry, Soneva, Ultima Collection, and Virgin Limited Edition.
