The Luxury Institute Names The Ritz-Carlton Hotel Company No. 1 Luxury Services Brand For 2005
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The Luxury Institute Names The Ritz-Carlton Hotel Company No. 1 Luxury Services Brand For 2005
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Category: Worldwide -
This is a press release selected by our editorial committee and published online for free on 2005-12-02
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The Luxury Institute announced today that Ritz-Carlton
earned the highest ratings as the most prestigious brand in the Overall Luxury Services segment for 2005,
based exclusively on the ratings and rankings of wealthy and ultra-wealthy American consumers. Wealthy
consumers who know the brand rated Ritz- Carlton above wealthy consumers who rated 110 other luxury
services brands in seven major luxury services categories: Luxury Hotels and Resorts, Luxury Tour Operators,
Luxury Cruise Lines, Private Jet Services Firms, Luxury Retailers, Wealth Management Firms and Full Service
Brokerage Firms.
"The Ritz-Carlton brand stands out for its consistently superior quality and as having the best reputation among
the wealthy for making customers feel special across the entire customer experience", said Milton Pedraza,
CEO of The Luxury Institute. "In the Luxury Hotels and Resorts category, which is one of the most demanding
of luxury services categories, a skilled competitor with enough resources can match or outperform its
competitors on physical environment. Even though they deliver wonderful aesthetics, the true brand
differentiators for Ritz-Carlton are its leadership, its people and its culture. Ritz-Carlton is meticulous about
recruiting the best people, training them, and nurturing a service culture throughout the organization, and
wealthy Americans acknowledged that in our Luxury Brand Status Index survey series in 2005".
"We are deeply gratified to be the overall winner of the Luxury Institute's 2005 Luxury Brand Status Index
surveys for Luxury Services," said Simon F. Cooper, president and chief operating officer of The Ritz-Carlton
Hotel Company, L.L.C. "Our premiere ranking from this group of elite consumers is a wonderful recognition.
The ladies and gentlemen of The Ritz-Carlton understand that as the luxury world continues to expand and
grow more competitive, our future success is based on the ability to deliver a superior lifestyle experience that
is exclusive and unique. On behalf of The Ritz-Carlton, I am deeply honored to be named the Luxury Institute's
most prestigious Luxury Services brand for 2005".
The proprietary Luxury Brand Status Index (LBSI) is the only independent and objective measure available of
the value and equity of leading luxury brands to wealthy Americans. The survey is based on statistically
meaningful data collected from wealthy consumers themselves. 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". Seven point scale ratings are converted to a 0-100 scale.
In addition to individual and composite metrics by age, gender, income and net worth segments among the
wealthy, the survey also measures a brand's ability to merit a significant premium price and measures the
correlation of price premium with the composite index of the four critical factors above.
Another highly critical metric feature of the research is a rating by wealthy consumers as to the brand's erosion
or enhancement as a luxury brand over the past 12 months.
About the Luxury Institute
The Luxury Institute is the uniquely independent and objective research institution that focuses solely on the
top 10 percent of America's wealthy. The Institute provides a portfolio of proprietary publications and research
that guide and educate high net-worth individuals and the companies that cater to them on leading edge trends,
wealthy consumer rankings and ratings of luxury brands, and best practices. Publications include the monthly
Wealth Report, the Luxury Brand Status Index surveys, the Luxury Best Practices surveys and the Luxury
11/21/2005 10:39 AM Wealthy Americans Rate Ritz-Carlton the Most Prestigious Luxury Services Brand in 2005
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Consumer Experience Index surveys. To reach the Luxury institute, please call 646-792-2669 or go to
www.luxuryinstitute.com.
Contacts
The Luxury Institute
Martin Swanson
Cell: 914-909-6350
Office: 914-715-3357
mswanson@luxuryinstitute.com
www.luxuryinstitute.com
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