Reaping the Benefits of Sustainability in the hospitality industry

Practicing sustainability in hospitality comes with many benefits. Aside from attracting more customers and responding responsibly to what many consider a moral imperative, in light of the current climate crisis, sustainable initiatives offer hospitality businesses incentives.

“Considering this change in demand, many businesses have come to understand that walking this path is essential. It's not about value. It does positively impact the bottom line and the business sustainability of our industry,” said Caroline Da’lin.

Several countries along with local governments have enacted programs to promote “green” business. Using renewable energy, reducing waste and implementing measures that enable reuse and recycling can add up to more than just energy conservation. Incentive programs reward businesses with tax write-offs, discounts on insurance premiums, financial grants and faster regulatory permitting. In addition, innovative, environmentally friendly technology can result in long-term cost savings. Although sustainable practices can require initial spending, the combined effects of energy efficiency, waste reduction and the like can lead to spending less money in the long run.

In tourism, people often vote with their feet. If tourists learn that a business does not take the necessary steps to eliminate or significantly reduce its negative impact on the environment, this information will affect their perception of the company brand. Conversely, when organizations demonstrate their commitment to green practices, they can improve their brand image and draw more tourists. Additionally, business cultures that embrace sustainability can also better attract the elite work talent of younger generations looking for companies that share their values.

For additional information on sustainability in the hospitality industry, download Bidroom’s white paper titled Sustainability in hospitality: where the industry is now and what the future holds.?