Grupo Barceló, Meliá, Air Europa and Sol are the Majorcan companies present in the annual report of the strongest and most valuable brands in Spain. The companies are ranked 41st, 65th, 71st and 81st, respectively. The “Brand Finance Spain 100” also ranks the Balearic Islands as the seventh autonomous community with the highest brand value. All this despite the decrease compared to previous reports, mainly due to the impact of the pandemic in the tourism sector.
The value of brand reputation
The report, which is accompanied by extensive information on the reputation of the brands and how users perceive them (“Brand Beta Spain”). Its conclusions show that “the Spanish consumer is hungry for vacations.” In terms of overall brand consideration in the tourism sector, 3 airline brands and 3 hotel brands rank among the top 10 brands.
For airlines, these are Iberia (2nd), Air Europa (3rd) and Vueling (9th), which implies that a large part of the Spanish public would consider flying with these airlines in the future. Regarding hotels, NH Hotels, Meliá and Occidental ranked fourth, fifth and tenth respectively in terms of brand. More than 85% of people say that they would consider staying in them. Hotels also have the highest average reputation of any sector within the top 100 Spanish brands. In terms of reputation, both Meliá and Grupo Barceló enter the top 10 with 5th and 10th place respectively. Meliá is also a leader in the hotel sector.
On this matter, André P. Gerondeau, Chief Operating Officer at Meliá Hotels, states in the report: “Meliá is a family-based and at the same time, listed company, which provides our brand with solid values and great rigor and transparency, a binomial that strengthens our reputation, in a very competitive market environment dominated to a large extent by multinational giants ”.
The challenge of recovery
Hotel brands are the ones that will take the longest to recover within the tourism sector. The reason is the impact of the pandemic, with strong restrictions when traveling. According to the report, while restaurants and bars expect a quick recovery in domestic businesses once closures begin to ease this year, there are fears that the road to recovery will be longer for hotels. With a differentiation between luxury hotels and the cheapest ones. The latter will recover before the former.