The hospitality industry is becoming more competitive than ever, so hotels are constantly brainstorming ideas to have the upper hand over their competition. Many hotels have begun to explore the option of becoming more sustainable, allowing them to benefit economically by executing environmental and social initiatives. Some of the benefits of becoming sustainable include:
- Customer loyalty: Customers have ever-changing expectations and demands that need to be met. Today, more people are concerned about environmental issues like recycling bottles, cans and paper at home as well as leading a green lifestyle by eating organic food or driving fuel-efficient cars. By being environmentally friendly, you are telling these modern guests that you are like minded on an important topic, increasing their affinity to choose to stay at your hotel.
- Employee retention: In order to go green, it is essential that your employees are ready to make changes and develop new practices. You can increase your employees’ enthusiasm and motivation to work as a team by providing environmental programs as a staff incentive. Not only will your staff feel a sense of accomplishment for being environmentally friendly, but the money that is saved by implementing green practices can then be turned into rewards for your team, such as cash prizes or even a trip!
- Awards and recognition: Being recognized for sustainability results in a greater competitive advantage for your establishment. Marriot has been recognized for it’s new LEED certified hotels and is also the top hotel chain of Newsweek’s 500 Most Green Company list. As the news of your hotel’s awards and recognition for green efforts like these spread, you will entice new clientele, such as corporations hoping to work with companies that are environmentally responsible.
- Regulatory compliance: Emerging regulations don’t have to cause restraint on your hotel’s daily operations – they can actually present opportunities for you to obtain an advantage over your competition. Environmental regulations can fuel innovation that can counterbalance the cost of compliance; you may even discover considerable cost savings and new areas that can result in profit. The hotel industry is becoming increasingly regulated for waste, water, greenhouse gas emissions, and energy use. By continuing to be mindful of these evolving regulations, you will be able to prepare in advance and potentially prevent future costs related to compliance.
- Risk management: In the past, hotel’s risk management strategies have concentrated on health and safety concerns around food and water, pest control, fire or water damage, disease outbreaks, and safety of guests in general. More recently, environmental and social issues are becoming increasingly important for the lodging sector. Some of these environmental risks include:
- Water and land contamination
- Air and noise pollution
- Supply chain environmental practices and
- Waste management.
Those who consider environmental factors in their business decisions in an effort to lower their environmental risk and potential liabilities are more likely to secure investment and reduce their exposure in the financial and reputational markets.
In today’s society, those in the hotel industry are becoming more aware of the environment, realizing that long-term sustainability can help protect it. Many larger companies have been accused of releasing excess greenhouse emissions that link to climate change and environmental devastation. Today, there is a movement to increased focus on corporate social responsibility. Best Western MarketPlace stays current on the frequently changing trends and regulations in the hospitality industry so that we can present you with green solutions to ensure your hotel’s sustainability.