Environmental, social, and governance (ESG) initiatives have accelerated in recent years, especially in hospitality. Let’s check how the industry can invest in long-term environmental upgrades and protect communities, employees, and hotel guests.
(E)nvironmental
According to the Sustainable Hospitality Alliance (SHA), to keep pace with the targets outlined in the Paris Agreement, the global hotel industry needs to reduce carbon emissions per room per year by 66% by 2030 and 90% by 2050 (SHA, 2017). Companies like Accor, Hilton, Hyatt, IHG and Host Hotels have aligned themselves with science-based target initiatives (SBTi), which manage emissions reductions and net-zero commitments.
(S)ocial
AAHOA, along with organizations like the National Association of Black Hotel Owners, Operators and Developers (NABHOOD), American Hotel and Lodging Association (AHLA), National Society of Minorities in Hospitality (NSMH), She Has A Deal (SHAD), and Latino Hotel Association (LHA) advocate and support growth in women- and minority-owned, developed, and operated hotels. This work is important because Asian-Americans represent more than 20,000 hoteliers owning 60% of hotels in the U.S. and Black ownership remains below 2%, but this figure is growing, according to NABHOOD. While some minority-owned businesses are leaving their mark in hospitality, other entrepreneurs use the resources from organizations like AAHOA to elevate and amplify more voices.
(G)overnance
Governance issues include board diversity, company ethics, transparent reporting on the environmental and social goals, and clear executive compensation guidelines. While there is still more work to be done, AAHOA has incredible women leading the association in the boardroom and the staff. Most hotel companies are doing their part by monitoring financial and ethical misconduct, protecting human rights, and condemning human trafficking.
Hotel owners must remember that more travelers seek to support businesses with environmental and sustainable initiatives in place. Make your properties stand out among your competition and rate high on environmental friendliness on rating systems like Tripadvisor’s GreenLeaders, Green Key Global, Green Seal, Green Tourism Active, Audubon Green Lodging Program, Travelife, or Earth Check.
Original source can be found here.
Alerts Sign-up