This Is the Most Respected Hotel Company in the Industry
Every year, Fortune magazine ranks the best businesses in dozens of different industries. Here's which hotel company took the top prize.
When you’re choosing a hotel for your next getaway, you probably look to the opinions of others before booking. Whether you know someone who’s been to your destination before or you just peruse online reviews, outside opinions carry at least some weight in your choice. But the world-renowned business magazine Fortune goes above and beyond, amassing opinions to find the single most admired hotel chain—and it’s just crowned a winner. Avoid staying at these hotel chains that are the worst in the industry.
In January 2020, Fortune released its annual report of the most admired companies in the world. Experts selected the most reputable names in dozens of different industries, from apparel to food services to soap and cosmetics. Coming in at first place in the “Hotels, Casinos, and Resorts” category? Wynn Resorts.
This ranking is a little different from the average “Best Of” report. Fortune‘s 21-year business partner, global consulting firm Korn Ferry, is in charge of conducting the research. Instead of surveying the hotel customers themselves, Korn Ferry seeks the opinion of experts within the industry, like executives and directors. These people then evaluate their peers on nine different criteria, including “quality of management” and “ability to attract talent.” Wynn Resorts topped the list, proving that other tycoons in the industry have great respect for the way Wynn does business. Don’t miss these 21 secrets hotels won’t tell you.
Wynn Resorts currently operates Wynn Las Vegas, Encore Boston Harbor, Wynn Macau, and Wynn Palace, Cotai. The second-most respected hotel chain, Fortune found, is another big name: MGM Resorts International. Las Vegas Sands, Hyatt Hotels, and Marriott International rounded out the top five. Marriott fell from the top spot in 2019 to number five. Plus, these are the 10 best hotel chains in the world—ranked.
So if you choose to crash at any of these hot spots on your next sojourn away from home, experts say you’re in good hands! To get the perspective of your average hotel guest, find out the best hotel in every state, according to customers.