BRANDING AND BRAND EQUITY IN THE HOSPITALITY INDUSTRY IN ROMANIA

In the faced-paced world of the 21st century, with unique new inventions around every corner in the hospitality industry, something always must stand out, be different, be an eye-catcher. Words like branding and brand equity are important - what makes something the way it truly is, what draws customers to a particular place or product, especially after the pandemic that has changed the entire industry. To explore these concepts in depth, a quantitative study was conducted, a survey to be precise, and the results that emerged are quite captivating. With just one name in mind (the brand name), potential customers were able to visualize what a hotel looks like, what the atmosphere is like and how they would feel if they stayed at that particular hotel. Branding and brand equity are very important in the hospitality industry as they influence staff opinion, brand loyalty and willingness to pay more for a particular hotel brand, thus increasing sales and therefore profits. A strong brand can set a hotel apart from its competitors, encourage customer loyalty and create a sense of trust among customers. To gain a competitive advantage, hotels in the Romanian market need to use branding and brand equity to their advantage.