LTI Announces World's Best Luxury Hotel Brands; Quinto Do Lago Golf Resort Made Loss Last Year
Published on Oct 15 2021 9:17 AM in Hotel tagged: Trending Posts / Luxury Travel Intelligence / LTI / Algarve Golf Courses Ltd / Sociedade do Golfe da Quinta do Lago / Catalunya Golf Ltd / Quinta Do Lago
Luxury Travel Intelligence (LTI) has announced a list of the world's best luxury brands. Details LTI stated, "Welcome to our annual World's Best Luxury Hotel Brands report. This is not just another...
Luxury Travel Intelligence (LTI) has announced a list of the world's best luxury brands.
LTI stated, "Welcome to our annual World's Best Luxury Hotel Brands report. This is not just another World's Best list. LTI - Luxury Travel Intelligence - has taken the past 12 months to apply the perfect assessment process: a rigorously defined algorithm that measures the performance and values of luxury hotel brands.
"This year, our algorithm has 131 touch points relevant to the luxury hotel sector. Each has its own weighted score value with a total maximum accumulative score of 4736.
"The touch points relate to overall brand performance, rather than the performance of individual properties. It is all about a brand’s ability to deliver: its passion, commitment, ethos and values, as well as the quality of its management and staff.
"Continuing investment and how well it is executed is also a major factor, particularly regarding new properties and the refurbishment of existing ones.
"This year's results are reflected as percentages, with last year's positions in brackets.
"1. Six Senses 83.3% (1)
"2. Mandarin Oriental 82.6% (5)
"3. Auberge 81.8% (3)
"4. Aman 81.4% (2)
"5. Belmond 79.9% (4)
"6. One&Only 77.0% (6)
"7. Oetker Collection 75.7% New Entry
"8. Four Seasons 74.1% (8)
"9. Rosewood 73.5% (7)
"10. Raffles 72.7% New Entry
"11. Viceroy 72.2% New Entry
"12. COMO 71.0% (10)
"Other brands that rated sufficiently to be monitored throughout the year are (in alphabetical order) Alila, Anantara, Banyan Tree, Dorchester Collection, Firmdale, Jumeirah, Leela, Oberoi, Park Hyatt, Peninsula, Ritz Carlton, Rocco Forte, Shangri-La, Soho House, St. Regis, Taj, The Luxury Collection.
"Brands that currently have less than ten properties (our minimum requirement) but rate highly when applying our algorithm are (in alphabetical order) Airelles, Althoff Collection, Bulgari, Capella, Cheval Blanc, Maybourne, Montage, Nikki Beach, Pendry, Soneva.
"About The World's Best Luxury Brands Report
No other organisation connects with the global luxury hotel industry as LTI does. Our researchers engage with everyone from CEOs of the brands we have rated to thousands of managements, staff and guests. This is all part of the process for creating our destination led reports for our members (affluent, discerning travellers) but it also allows us to utilise our findings to create this unique report. Every year the process starts again - the results from previous years have no bearing on the following year. This does inevitably lead to volatility in each year’s results (such as this year), but this is a dynamic sector and we want to reflect what is really happening out there.
"Six Senses: World's Best Luxury Hotel Brand
"We continue to be very impressed with Six Senses. It has an authentic blend of wellness, sustainability, warm hospitality and crafted guested experiences. Also, its leadership is exemplary. The recent addition of Neil Palmer as Chief Operations Officer will bring boundless experience, energy and further integrity to the brand.
"We have been tracking Oetker Collection for several years while they have been building an exceptional portfolio of globally renowned hotels. We have been particularly impressed with the meticulously rebuilt of The Eden Rock in St Barths and their creation of The Woodward, a 26 room all-suite hotel on the shores of Lake Geneva, which opened in September.
"Raffles, with a new CEO at the helm, has been quietly creating a raft of impressive new properties across the globe.
"Viceroy has also shown great courage and commitment to building a global modern luxury hotel brand offering intuitive service, authentic experiences and provocative design.
"Our algorithm has been suitably adjusted to accommodate the multitude of COVID-related challenges that luxury hotel operators have faced during 2020 and 2021. This also accommodates how brands are responding to a significant shift in COVID-driven demands from the luxury traveller.
"About LTI - Luxury Travel Intelligence
"We are a global members-only organisation, providing digital, up to the minute reporting for affluent travellers who wish to make informed travel decisions, based on our honest and highly detailed intelligence. We cover luxury hotels, restaurants, spas and nightlife, in granular detail. We do not sell travel, have a booking engine or carry advertising. Membership fees are our only revenue and we only answer to our members."
Quinto Do Lago Golf Resort Made Loss Last Year
In other luxury hotel-related news, as reported by The Irish Times, the company that manages Irish businessman Denis O'Brien's Quinta do Lago golf resort in the Algarve in Portgual made a loss of £3.8 million (€4.5 million) last year, the latest accounts for its UK-registered holding company indicate.
Accounts for Algarve Golf Courses Ltd reportedly show that a subsidiary that manages the complex in Portugal - Sociedade do Golfe da Quinta do Lago - made the loss in the year to the end of December of 2020, and closed the financial period with capital and reserves of £13.9 million.
O'Brien reportedly acquired the Quinta do Lago resort in 1998, and has reportedly expanded it substantially in the years since. It reportedly comprises three golf courses, hotels, a sports campus and residential units.
Algarve Golf Courses reportedly had net assets itself of £7.24 million at the end of 2020, and the directors reportedly noted that it did not make a profit in 2020 as it did not trade. It reportedly paid no dividend for the year, and itts audit fees of £4,500 were reportedly paid by Murryhill Ltd, which is reportedly an entity controlled by O'Brien.
Separately, the Spanish golf course owned by O'Brien reportedly earned €2 million in profits last year, the latest reportedly figures show.
Catalunya Golf Ltd, which runs a course close to Barcelona, reportedly earned profit before tax of £1.77 million in 2020, reportedly turning around a loss of £1.64 million the previous year.
The profit reportedly helped to boost Catalunya Golf's net assets to close to £900,000 on December 31, 2020, from a deficit a year earlier. The company reportedly owed £42.8 million to its parent undertakings at the end of 2020, reportedly accounting for nearly all of its £42.9 million liabilities.
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