What CrescentRating does

CrescentRating is a Singapore-headquartered B2B ratings, accreditation, and market intelligence firm that defines the standards for Muslim-friendly travel globally. Founded in 2008 by CEO Fazal Bahardeen, the company developed the proprietary ACES framework (Access, Communication, Environment, Services) that underpins the Global Muslim Travel Index (GMTI), co-produced with Mastercard since 2015 and now in its 11th edition covering 150 destinations across 60+ datasets. Its core products span Crescent Rating accreditation (Bronze/Silver/Gold tiers for venues, 1-7 scale for hotels), CR MAPS (market analytics platform), the monthly Muslim Travel Intent Tracker (MTIT), and the MizanAI ethical AI readiness assessment. Over 300 ratings have been issued across 40+ countries and 1,705+ professionals have been certified through the CrescentRating Academy in 30+ cities.

The company's go-to-market is enterprise-led and consultative, targeting national and regional tourism boards, hotel groups, airports, attractions, MICE venues, and travel technology platforms. Revenue is generated through recurring accreditation subscriptions, project-based research and consultancy engagements, Academy training fees, destination marketing campaigns, and event-based sponsorship for the annual Halal In Travel Global Summit held in Singapore. The consumer-facing sister platform HalalTrip distributes verified Crescent Rated establishments to Muslim travelers, while channel partnerships with OTAs such as Klook extend credentialed discovery into third-party booking flows.

CrescentRating operates within the broader $189B-$235B Muslim travel market projected to reach $310B by 2030, with 192M international arrivals in 2025 expected to grow to 262M by 2030. The firm holds UN Tourism Affiliate Member and PATA Board Member statuses, operates a 20,000+ media mention footprint, and serves 70,000+ industry partners globally. Its customer base spans Asia, Europe, Africa, the Middle East, and Oceania, with documented engagements including Mastercard, Singapore Tourism Board, Hong Kong Tourism Board, Tourism Australia, Wonderful Indonesia, Uzbektourism, Turespaña, German National Tourist Office, and Macao Government Tourism Office.

Name

CrescentRating

Legal name

CrescentRating

Website

https://crescentrating.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

CrescentRating is a Singapore-based B2B ratings, accreditation, and market intelligence firm serving tourism boards, hotel groups, airports, attractions, and travel brands with Muslim-friendly travel standards, the Mastercard co-produced Global Muslim Travel Index, and destination consultancy services across 150 countries.

Ownership category

akta.pro rank

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Technology or R&D, Operations, Infrastructure

Revenue model

1. Rating & Accreditation Services: Annual rating and accreditation fees charged to hotels, restaurants, airports, attractions, and other travel establishments seeking Crescent Rated certification. Includes audit fees, certification issuance, and directory listing on CrescentRating and HalalTrip platforms.
2. Research & Consultancy: Customized market research reports, destination-specific profiling, strategic advisory, and consultancy engagements for tourism boards and hospitality operators. Revenue generated through project-based consultancy engagements and tailored research reports.
3. CR Academy Training & Certification: Certified training programs through CrescentRating Academy for market readiness, sector immersion, and executive education. Participants include managers, service staff, and C-suite executives. Programs offered online and offline across 30+ cities in 20+ countries with 1,705+ participants.
4. Destination Marketing & Activation: Integrated campaign design, content production, and channel partnerships for tourism boards to position destinations in front of Muslim travel decision-makers. Includes editorial placement, social media, and event-based activation at the Halal In Travel Global Summit.
5. Event & Industry Platform Revenue: Revenue from the annual Halal In Travel Global Summit and Awards, including sponsorship, partnership, and participation fees. The summit connects destinations with influential travel leaders and serves as a GTM platform.

Go-to-market motion4 records

Distribution channels7 records

Marketing channels8 records

Core offering

CrescentRating is a Singapore-based advisory, ratings, and market intelligence firm that certifies hotels, restaurants, airports, attractions, cruise terminals, and other travel venues as Muslim-friendly through its proprietary Crescent Rating Accreditation system. It co-produces the Global Muslim Travel Index (GMTI) with Mastercard, operates the CR MAPS data analytics platform, the monthly Muslim Travel Intent Tracker (MTIT), the MizanAI ethical AI readiness platform, the HalalTrip consumer travel community, and the CrescentRating Academy training programs, serving tourism boards, hotel groups, and travel brands worldwide.

Product overview

CrescentRating operates as a platform-plus-modules architecture anchored by its core rating and accreditation service and the Global Muslim Travel Index (GMTI). The ecosystem spans five integrated layers: (1) the consumer discovery platform HalalTrip — the primary channel through which Muslim travelers access Crescent Rated establishments; (2) intelligence products including CR MAPS (market analytics), MTIT (monthly travel intent tracker), and the ACES/RIDA/TRUST benchmarking frameworks; (3) the MizanAI ethical AI readiness assessment platform; (4) CrescentRating Academy (three-tier training and certification division); and (5) the Halal In Travel Global Summit and Awards (annual industry platform). The GMTI — co-produced with Mastercard since 2015 and now in its 11th edition — is the flagship data product underpinning all advisory and accreditation services, while HalalTrip serves as the consumer-facing distribution layer that makes accredited properties discoverable by Muslim travelers globally.

Differentiator

Problem solved

Functional benefit

Brands

• HalalTrip: Consumer-facing Muslim traveler community platform that connects Muslim travelers directly to verified hotels and services worldwide, powered by CrescentRating data and ratings.
• CR MAPS
• MTIT
• MizanAI
• Halal In Travel Global Summit

Products and services

• Crescent Rating Accreditation Independent global rating and accreditation service awarding Crescent Ratings (Bronze, Silver, Gold) to hotels, restaurants, airports, attractions, cruise terminals, train stations, MICE venues, and shopping malls that meet CrescentRating's verified Muslim-friendly service standards.
• Global Muslim Travel Index (GMTI) Annual benchmarking index co-produced with Mastercard ranking 150 destinations on Muslim-friendly travel readiness using the ACES framework, available in 15 language editions and widely used by governments, tourism boards, and hospitality brands for strategic planning.
• HalalTrip Consumer Platform Consumer-facing Muslim travel community platform that connects Muslim travelers to verified Crescent Rated hotels, attractions, restaurants, and curated itineraries, reaching 1.9 billion Muslim travelers globally.
• CR MAPS (CrescentRating Market Analytics Performance Solutions) Subscription data intelligence platform providing business intelligence on the global Muslim market, transforming raw market data into deep analytical insights for strategic growth of destinations and hospitality brands.
• Muslim Travel Intent Tracker (MTIT) Monthly pulse tracker measuring near-term Muslim travel intent on a 0-100 scale, built from live survey data collected monthly across 15+ source markets since August 2021, providing score trends, seasonal patterns, 6-month outlooks, and traveler profile breakdowns.
• MizanAI Ethical AI Readiness Assessment platform within the CrescentRating ecosystem for evaluating AI system readiness and ethical adoption in the halal travel sector.
• CrescentRating Academy Training and certification division offering three program tiers: Market Readiness (fundamental online certification), Sector Immersion (segment-specific customer service training), and Executive Education (advanced program for C-suite), delivered online and offline across 30+ cities in 20+ countries.
• Halal In Travel Global Summit and Awards Flagship annual industry summit and awards platform held in Singapore where the halal travel industry convenes, connecting destinations with travel trade professionals, tourism boards, and Muslim travel media through sponsorship, partnership, and participation tiers.
• Research & Consultancy Customized market research reports, destination-specific profiling, strategic advisory, and consultancy engagements for tourism boards, hospitality operators, investors, and travel brands, delivered through project-based engagements and tailored research reports.
• Destination Marketing & Activation Integrated campaign design, content production, and channel partnerships for tourism boards and travel brands to position destinations in front of Muslim travel decision-makers, including editorial placement, social media, and Halal In Travel Summit activation.

Quantifiable outcome

• 13 Hong Kong hotels expanded their Muslim customer base, 12 enhanced Muslim traveler marketing, 10 reported stronger Muslim guest trust, and 5 measured direct revenue uplift following CrescentRating engagement.
• +7 more outcomes

Named customers20 records

Segments8 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability8 records

Feature9 records

Partnerships

20 partnerships are on record, tiered core and minor.

• Chameleon StrategiescoreStrategic or Co-development Partner · 22 June 2026Both UN Tourism Affiliate Members. Jointly launched the Asia Pacific Outbound Traveler Handbook 2026 at the Halal In Travel Global Summit in Singapore, covering 26 Asian outbound source markets. Joint initiative under PATA providing source-market-level intelligence for destination marketers and travel trade professionals.
• KlookcoreStrategic or Co-development Partner · 19 August 2025Multi-market partnership 'Jelarang Hong Kong' launched between Klook and Hong Kong Tourism Board. Partnership builds on Klook's existing integration with CrescentRating and HalalTrip, making Klook the first global experiences platform to offer verified Muslim-friendly ratings. Muslim travel bookings to Hong Kong grew 43.5% over the past year.
• Hong Kong Tourism BoardcoreGTM or Marketing Partner · 19 August 2025Flagship tourism board client. HKTB launched multi-market 'Jelarang Hong Kong' partnership with Klook, with CrescentRating providing the Muslim-friendly verification framework. Hong Kong was named 'Most Promising Muslim-friendly Destination of the Year' at Halal in Travel Awards 2025. CrescentRating worked with Hong Kong hotels, attractions, and transport hubs for comprehensive Muslim-friendly ecosystem certification.
• MastercardcoreStrategic or Co-development Partner · 1 January 201512-year research partnership co-producing the Global Muslim Travel Index (GMTI), the industry's most cited Muslim travel benchmark. Mastercard commissions CrescentRating research to highlight market opportunities (e.g., $21B Muslim-friendly sports tourism report). The GMTI partnership has produced 11 consecutive annual editions covering 150 destinations.
• UN TourismcoreStrategic or Co-development PartnerUN Tourism Affiliate Member. CrescentRating works alongside institutions influencing tourism policy, destination development, and industry direction worldwide. UN Tourism affiliation provides institutional credibility and access to global tourism governance networks.
• PATA (Pacific Asia Travel Association)coreStrategic or Co-development PartnerPATA Board Member. CrescentRating helps shape strategic travel development across the Pacific Asia region. Joint initiative under PATA for the Asia Pacific Outbound Traveler Handbook 2026 with Chameleon Strategies.
• UNHCR (UN Refugee Agency)minorStrategic or Co-development PartnerCrescentRating is listed among global affiliations alongside UNHCR. Nature of partnership involves shared commitment to social impact and inclusive travel experiences.
• Singapore Business FederationminorStrategic or Co-development PartnerCrescentRating is a member of the Singapore Business Federation, connecting the company to Singapore's leading business and policy ecosystem.
• Singapore Tourism BoardcoreGTM or Marketing PartnerSingapore Tourism Board is a trusted partner of CrescentRating. Singapore ranked 11th globally (#1 non-OIC destination) with a GMTI 2026 score of 72, driven by halal ecosystem, safety standards, and smart infrastructure. STB credited CrescentRating's GMTI for supporting Singapore's Muslim-friendly destination positioning.
• Cape Town TourismcoreGTM or Marketing PartnerCape Town Tourism is a trusted partner engaged in Muslim-friendly destination development. South Africa is consistently ranked among the top 10 destinations globally in the GMTI. CrescentRating provided research and consultancy to support Cape Town's Halal tourism growth.
• Tourism AustraliacoreGTM or Marketing PartnerTourism Australia leverages CrescentRating standards and intelligence for Muslim-friendly positioning. CrescentRating ecosystem includes Australian destinations in the GMTI benchmark.
• Uzbektourism (Uzbekistan Tourism)coreGTM or Marketing PartnerUzbekistan has risen from 32nd (GMTI 2017) to 9th place (GMTI 2022) with CrescentRating support. Uzbekistan was named 'Best Islamic Heritage Destination of the Year' among 140 destinations in 2023. Strategic engagement includes ACES framework advisory and market activation.
• Turespaña (Spain Tourism Board)coreGTM or Marketing PartnerSpain Tourism Board engaged with CrescentRating to better meet Muslim visitor needs. Spain is committed to educating its tourism industry on Muslim culture and designing experiences that fulfill Muslim travelers' dreams. Spain among the clearest momentum signals in MTIT June 2026.
• Philippines Tourism BoardcoreGTM or Marketing PartnerPhilippines Tourism Board is recognized as an Emerging Muslim-Friendly destination, testament to the dedication of Philippines' travel industry in catering to Muslim traveler needs. CrescentRating provided standards and consultancy for this positioning.
• German National Tourist OfficecoreGTM or Marketing PartnerGerman National Tourist Office is a tourism board client engaged with CrescentRating to position Germany as a Muslim-friendly destination for the growing Muslim travel market.
• Macao Government Tourism OfficecoreGTM or Marketing PartnerMacao Government Tourism Office is engaged with CrescentRating for Muslim-friendly destination strategy and market intelligence.
• Taiwan Tourism AdministrationcoreGTM or Marketing PartnerTaiwan Tourism Administration is a tourism board client. Taiwan ranked #3 non-OIC destination alongside the UK in GMTI 2026 with score of 59.
• Wonderful Indonesia (Indonesia Tourism Board)coreGTM or Marketing PartnerIndonesia Tourism Board is a major client. Indonesia re-emerged as a top-tier GMTI performer, ranking #2 globally (tied with Turkey and Saudi Arabia) at score 79 in GMTI 2026 (+3 points). Indonesia named world's best Halal tourism destination in GMTI.
• Bintan ResortsminorGTM or Marketing PartnerBintan Resorts is listed among CrescentRating's trusted partners, indicating engagement for Muslim-friendly resort positioning in the Indonesian archipelago.
• HalalTripcoreChannel Partner/ Reseller/ DistributorHalalTrip is CrescentRating's sister consumer platform — the Muslim traveler community connecting verified Crescent Rated establishments to millions of Muslim travelers planning trips. HalalTrip distributes to 1.9B Muslim travelers. The platform features Crescent Rated hotels, attractions, restaurants, and curated itineraries. HalalTrip Gastronomy Awards and HTGA Singapore Open House events are part of the ecosystem.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Muslim Pro: Muslim Pro is one of the most-downloaded Muslim lifestyle apps worldwide, offering prayer times, Qibla, and increasingly travel and lifestyle features. It is an emerging player that intersects with CrescentRating's consumer discovery mission through HalalTrip, but with a much broader daily-use app footprint and large direct user base.

Broad incumbents

• OYO: OYO is a global hotel aggregation and standardization platform with proprietary rating systems for budget and midscale hotels. It represents a comparable hotel ratings, accreditation, and quality assurance model at scale, though focused on a different customer segment and operating its own hotels rather than acting as an independent third-party certifier.
• STR (CoStar): STR, now part of CoStar Group, is the leading hotel benchmarking and performance intelligence provider globally. It is comparable to CrescentRating as a B2B hospitality intelligence platform serving chains, ownership groups, and tourism authorities with category-standard data products and benchmarking.
• TripAdvisor: TripAdvisor is the dominant global travel review and ratings platform covering hotels, restaurants, and attractions. It represents the broader incumbent model for travel ratings and reviews that CrescentRating's accreditation system competes against and complements in the Muslim traveler consideration set.
• Booking.com: Booking.com is the world's largest accommodation booking platform with growing Muslim-friendly filters and property tagging. It represents the broad incumbent OTA layer that CrescentRating partners with (e.g., Klook) and that potentially competes with CrescentRating's directory and accreditation discovery layer.
• Phocuswright: Phocuswright is a travel industry research and events company producing authoritative market sizing and trend reports. It parallels CrescentRating's research and consultancy business and targets the same enterprise tourism board and travel brand buyers with subscription research and conferences.
• Skift: Skift is a leading travel industry intelligence, research, and media platform. It is comparable to CrescentRating in publishing category-defining research, hosting industry events, and serving as a B2B intelligence provider for tourism boards and hospitality operators across the broader travel industry.

Direct peers

• Zabihah: Zabihah is one of the longest-running halal restaurant and business directories globally, serving Muslim consumers seeking verified halal dining and services. It overlaps with CrescentRating's halal ratings and directory business for restaurants and hospitality establishments, particularly the Crescent Rating Bronze/Silver/Gold restaurant accreditation tier.
• Salaam Gateway: Salaam Gateway is a research and intelligence platform covering the global halal economy including travel, finance, and lifestyle. It parallels CrescentRating's CR MAPS and GMTI research products in the halal economy data and advisory segment, serving similar institutional buyers (governments, investors, hospitality operators).
• HalalBooking: HalalBooking is a dedicated halal-friendly accommodation booking platform serving Muslim travelers worldwide. It is a direct competitor in the Muslim-friendly hospitality ratings and booking space, with a parallel product offering focused on verified halal-friendly hotels and villas — overlapping most directly with CrescentRating's hotel accreditation and HalalTrip discovery layer.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/crescentrating
• Facebookfacebook.com/Crescentrating
• LinkedInlinkedin.com/company/702126

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CrescentRating