Sustainability has become a key component of successful companies in the 21st century. Sustainability or social responsibility is quickly becoming a top priority for the public and commercial sectors, and the hotel business is no different. But what exactly does this phrase imply?
The ability of natural ecosystems to maintain life and offer resources for current and future generations is referred to as sustainability in the hospitality business. Hotels create greater demands on natural resources.
They depend on the same ecosystem: pristine landscapes, white sand beaches, waterfalls, glaciers, coral reefs, and pure air. All of these natural attributes draw in more visitors. Because of this, we may damage the foundation that supports this industry.
A 2019 United Nations research titled "Transport Related CO2 Emissions of the Tourism Sector" demonstrated that tourism significantly contributes to climate change.
As a result, sustainable hospitality practices are gaining popularity.
Travelers are seeking out eco-friendly accommodations, supporting local businesses, and engaging in activities promoting conservation and cultural preservation—according to a poll in February 2022, 81% of visitors globally thought that traveling sustainably was essential.
Why Sustainability In Hospitality Matters
Guests and hotels alike are becoming more aware of how their actions, including product production and use, impact the environment. Sustainability plays a vital role in the hotel sector as well. In addition to generating garbage, hotels require water, energy, and durable and consumable items.
The trash produced includes appliances, equipment, furniture, tubes, and lightbulbs. Sustainability in hospitality refers to using sustainable practices while adhering to environmental, social, and governance goals (ESG).
To ensure low operating costs, meet guest expectations, protect brand equity, and foster business sustainability, hotel operators must integrate sustainable hospitality practices and policies across their property's operations.
Here is why sustainability in hospitality matters,
- Raising awareness of environmental concerns
- Technological innovation
- Economic advantages
- Social responsibility
- Competition
- Regulation
Sustainability Trends In Hospitality Industry
Keep reading to discover the top trends in sustainable and eco-friendly hospitality that can help you design a space that will make every visitor feel at home. When guests realize how dedicated your company is to improving the world, the time and effort put into these suggestions will pay off. Additionally, it focuses on reducing the carbon footprint and positively impacting local communities.
Reducing water waste and consumption
Water waste in the hospitality industry is mainly caused by poor water use in kitchens, laundry rooms, and gardening. Needlessly high water usage is frequently caused by antiquated technology and conventional techniques.
Reducing water waste in the hospitality sector requires adopting water-efficient technologies, implementing recycling systems that filter and divert waste water for garden irrigation, recycling condensed water for cleaning public areas, and encouraging a culture of water conservation among employees and visitors.
Accepting water-saving innovations, including water-saving dishwashers, low-flow faucets, and creative landscaping irrigation systems, may reduce water waste without sacrificing the opulent experience that visitors anticipate.
Reduce the use of plastics
In 2023, plastics were worth 712 billion dollars worldwide. The plastics industry is anticipated to expand in the next few years, with a compound annual growth rate (CAGR) of four percent, and it is expected to reach a value of about 1,050 billion US dollars by 2033.
This information emphasizes how the demand for plastic is growing and poses a significant environmental risk because it doesn't appear to be slowing down anytime soon.
Due to the extensive use of plastic straws, stir sticks, cutlery, throwaway cups, water bottles, and packaging, the hospitality industry, among others, is substantially contributing to the problem of plastic pollution. Every year, hotels throughout the globe produce 289,700 tons of garbage.
Instead, using paper bags will not be highly harmful and will not release dangerous gasses into the atmosphere even when recycled. Paper bags are safer for the environment.
Reducing food waste
In the context of emerging and transitional economies, there is still a need to close the gap between sustainable innovations and recycling practices in the hospitality industry despite the slow but steady advancement of research on food waste management in restaurants in various nations.
While most research on food waste in food service operations is conducted in restaurant settings, there are study gaps in other restaurant types, which may lead to various approaches to managing food waste. Furthermore, the hotel industry has not given food waste reduction much thought, and more study has to be done on food waste in restaurants.
Enhancing efficiency and reducing costs
Moving to sustainable utilities is one of the most significant technology investments you can make to cut costs. Upgrades that use less energy are the way to cut costs for your business and the environment.
Going green is not merely a cost-saving strategy; it can benefit your brand. Because customers are more aware of the condition of the environment and use that awareness to inform their decisions, sustainable practices are increasingly showing up in response to customer demand.
The goal of hospitality technology is to lower costs and boost user profit, and this goal is constantly changing. Whichever set of solutions you implement will improve the caliber of service and charge a reasonable fee, which will be fair to both your employees and visitors.
Keeping an eye on carbon emissions
The hospitality sector contributes around 1% of the world's carbon emissions; hotel operators must mitigate the effects. The issues are not limited to environmental responsibility; they also involve compliance, employee engagement, resilience and futureproofing, cost savings, and brand reputation.
Globally, the top 1% emit almost 1000 times more CO2 than the bottom 1%. This demonstrates that not all of us bear equal blame for the condition of our world today.
By incorporating the " reduce, reuse, recycle " approach into their business model, hotels may save money, avoid pollution from harvesting new raw materials, decrease greenhouse gas emissions, conserve energy, and preserve the environment for future generations.
Importance Of Sustainability In The Hospitality Industry
The hospitality industry plays a significant role in the global economy by creating jobs and boosting regional and national economies. However, the sector is also notorious for significantly impacting the environment due to problems including excessive energy use, trash creation, and water usage.
Sustainability has grown in importance for the hotel industry in recent years, and addressing these concerns will require sustainability education. In response, businesses in the sector are putting sustainable practices into place for all facets of their operations, including the financial, cultural, and environmental ones.
The hospitality and tourist sector significantly affects the environment by using other vital resources, managing waste, and using electricity and water. The hotel business is threatened by unknown climatic changes and resource depletion, which may impede its operations in the future.
Encouragement of sustainable practices in the hotel industry results in a minimum impact on natural ecosystems and the protection of resources. Additionally, as consumer tastes play a significant role in growth and development, it's critical to keep abreast of what travelers want—namely, sustainability in hospitality.
How Can Sustainable Finance Help?
Businesses may build more faith, be helpful, provide hospitable living spaces, and give long-term, immediate environmental aid when they use sustainable funding.
A firm that uses sustainable financing is also likely to provide competitive returns on investment, which attracts investors and makes the endeavor more profitable.
In the hotel industry, sustainable finance may assist businesses with their investments in eco-friendly building materials, carbon emission reduction, and renewable energy sources. It can also provide green incentives to clients who choose eco-friendly lodging, including discounts.
Additionally, sustainable finance may significantly impact the hospitality industry by providing funds for eco-friendly projects and activities. It can assist companies in the field in easing their expenses, minimizing their influence on the environment, and promoting a more sustainable future.
Investing in green finance requires hospitality businesses to understand their short-, medium-, and long-term financing requirements, assess the local regulatory environment, and project and underwrite forward cash flows that integrate environmentally friendly practices.
The hospitality industry is seeing a significant increase in financing for sustainability initiatives, which presents a great chance to finance the shift to net-positive hospitality. However, more knowledge and access to financing options are needed to capitalize on this investment appropriately.
Acknowledging this, the Sustainable Hospitality Alliance is wholly dedicated to assisting its partners and members on their ESG journey. It has designated this as a key strategic focus for the upcoming years.
Conclusion
Every industry experiences transitions and undergoes fresh difficulties. However, environmental issues and climate change present several challenges for humanity. And the only way we can succeed is to reevaluate our corporate and personal practices.
Furthermore, many of these actions result in cost reductions that raise profitability by lowering total overhead and covering implementation expenses. Stated differently, hospitality benefits from adopting a sustainable approach and making immediate investments toward a more environmentally friendly future.
