Diamonds are sought after as jewelry and as a financial hedge in unsettled times.

They are also lusted over by hoteliers and restauranteurs as a symbol of excellence with the ultimate being the 5-Diamonds designation by AAA.

Seven Boston hotels rated 5-Diamonds in AAA’s annual ranking that was just released, the second highest number in any American city except New York with 12 and ahead of Beverly Hills and Chicago with five each.

The 5-Diamond hotels in Boston are:

• Boston Harbor Hotel

• Four Seasons Hotel Boston

• Four Seasons Hotel One Dalton

• Mandarin Oriental

• Raffles

• The Newbury

• Ritz-Carlton

No Boston restaurant rated five diamonds and only seven rated four:

• Amar

• Deuxave

• Mamma Maria

• Mooo….

• Ostra

• UNI

• Zuma Boston