Sustainable Hospitality: The Triple Bottom Line (TBL) Approach Part One

In the global hospitality industry, sustainability isn't just an option—it's a must do strategy. With Hotels being at the forefront, we must reorient our operations, moving beyond cash profit metrics. This is where the Triple Bottom Line (TBL) comes into play, providing a well-rounded approach focusing on People, Planet, and Profit.

Adopting the TBL in our hotels not only resonates with our guests but minimises our environmental impact, ensuring long-term profitability. The goodwill built from this approach buffers us against external challenges, further highlighting its relevance if we were to come into turbulent financial times again.

Moreover, for hoteliers seeking investment, the TBL aligns perfectly with the growing emphasis on ESG (Environmental, Social, and Governance) requirements. Embracing this framework can elevate a hotel's stature, foster better financial performance, and pave the way for future growth.

We must evolve from a narrow view profit-centric approach of what a good result looks like to a more encompassing one. The tripe bottom line (TBL) encourages hotels to measure success not just in financial terms but also by societal impact and local environmental impact and footprint. In the age of conscious traveling, this shift mirrors a growing preference by guests for booking hotels who are ethical, transparent, and have sustainable operational models that benefit the local community and the environment the hotel operates in.

Profit isn't just the final figure. It’s a culmination of our actions and their alignment with the overarching business goals, emphasising Environmental (Planet) considerations, societal implications (People), and of course, profitability (Profit).

In hospitality, true excellence isn't solely about design aesthetics—it's about fostering genuine connections. This involves prioritising employee well-being and building robust ties with local communities. Emphasising the well-being of our teams and strengthening relations with local suppliers ensures we deliver authentic and emotionally connective experiences.

Active participation in local events fosters community relationships and solidifies a hotel's local stature. Communicating how your hotel group's values align with TBL principles amplifies the positive impact on work culture, imbuing employees with a sense of purpose.

Championing Employee Well-being:

Including employees in pivotal decision-making processes fosters a sense of empowerment and appreciation. Regular mood assessments can guide efforts to bolster satisfaction. Transparent communication—via town hall meetings or feedback sessions—facilitates genuine engagement.

It's high time we addressed the hospitality sector's lingering perception as a challenging workplace. Prioritising staff retention with greater intensity, offering robust training modules and time, and providing thorough inductions can redefine this reputation narrative.

As you can see in the triple bottom line we look at people with many lens, of course we have to turn these into metrics and In the subsequent parts of this series, we will look into how the TBL approach benefits our planet, followed by an exploration of profit metrics, complete with illustrative examples that we could measure and discuss as part of the P&L monthly performance review.

Thank you for your time. I invite you to join the conversation. Are you leveraging the TBL in your hotel? If so, how are you implementing it? Let’s discuss. For more insights, check out my related video on this topic on LinkedIn, I have share the link here :