Primary Functions
-
Learn how to boost profit margins through utility savings, future-proof investment strategies, meet consumer preferences, and benefit from regulatory incentives.
- Access evidence and tangible actions that enable every stakeholder in the hotel sector to act more sustainably.
Detailed Description
The report provides a thorough analysis of the business case for sustainability, including how to boost profit margins through utility savings, future-proof investment strategies, meet consumer preferences, and benefit from regulatory incentives. The report includes tangible recommendations tailored for each participant in the hotel property value chain – investors, owners and developers, operators, and franchisees.
This complex and varied value chain is often one of the challenges to operating more sustainable hotels. For example, hotels are often built, financed and owned by businesses that are separate from the brands or individuals that run them. The report lays out the business benefits for each of the different market participants, highlighting that the best financial benefits are reached when everyone works together to integrate sustainability into the development decisions for new builds and retrofits.
Climate change is already impacting the hospitality sector. Extreme weather events increase the cost of operations and reduce the number of tourists visiting certain destinations, while local and national environmental policies and penalties are being introduced in cities and countries around the world. With a global pipeline of 2.4 million new hotel rooms forecast, if all new hotels built in the next ten years integrated simple sustainable upgrades in design and operations, the industry would save 42 million tonnes of CO2 each year by 2030 – the equivalent to the yearly greenhouse gas emissions of 9 million cars.
Far from being an impediment to business, sustainable hotel design in new builds and retrofits offers considerable benefits for all stakeholders.
This research analyses the business case for sustainable hotels under six categories, and provides recommendations, evidence and actions for each partner in the property value chain.
