WHY GREEN IS SO IMPORTANT TO THE HEALTH OF YOUR HOSPITALITY BUSINESS
December 10, 20223 min read
In 1950, there were 25 million international travelers. In 2018 there were 1.4 billion. Tourism then was one of the world's largest industries. Globally, the market size of the hotel and resort sector worldwide peaked at 1.52 trillion U.S. Dollars in 2019. As a result of the coronavirus (COVID-19) pandemic, the market size dropped below one trillion in 2020 and 2021. In 2022, the market size was forecast to reach 1.06 trillion U.S. Dollars.
It is true that for many consumers the pandemic provided a chance to stop and rethink lifestyle choices that can have a big impact on the environment and people. There has been a rise in consciously choosing to shop local, reduce and reuse, to create less waste and people are generally not traveling so far or as often for holidays.
Numerous reports and studies have shown that even whilst there is increasing work and financial insecurities, coronavirus has focused our minds on helping to create a better, healthier world. Consumers may pay a little more for a product or service which is ethical and sustainable, but its becoming a price they are willing to pay as they understand the value for our future. A study by research group Kantar said that since Covid-19 sustainability was more of a concern for consumers than before the outbreak. And 65% of global respondents told a survey by pollsters Ipsos Mori "that it is important that climate change is prioritised in the economic recovery after coronavirus".
In order to encourage travelers and business clients to stay and spend with your hotel or resort your green efforts are going to become front and center of importance to your business success. The good news is that you do not need to necessarily have more and more guests in order to remain a profitable business. There are so many opportunities when you begin on the journey to going beyond sustainability, not only for revenue generation but for cost-cutting too. And what you save in energy costs, for example, you can free up the budget for procurement of products which will lure eco-savi customers who are becoming more educated and aware of being greenwashed.
Create an experience in your hotel that is exclusive, demonstrates adaptability to change for best practice, and showcases that you are up to date and in the know regarding the latest governmental green policies. Going even further than that, it is important that your organisation is taking into consideration everything important to sustainability transition such as Health, Education, Water Crisis, Poverty, Equality, Biodiversity Loss, Eco Toxicity - there's so much more to think about than just Carbon Emissions.
There are now hospitality companies that have designed their whole experience around sustainability and are considered to be a Green Hotel Destination. TakeBeyond Apartmentsin London, where it's not just about 'Net Zero', but also, 'Zero Chemicals', 'Zero Waste to Landfill' and 'Zero Single-Use Plastic' and provides accommodation and services that are carbon neutral but also offer healthier spaces for guests to stay and staff to work.
If you are considered to be a regular hotel wanting to change to more sustainable hotel practices, it's important that you start out by identifying the 'low hanging fruit' for the most impactful reduction in Co2e emissions and make those changes first whilst also continuing on the journey with a future strategy which deals with understanding and reducing your Scope 3 emissions from purchased goods and services, employee commuting, business travel, end-of-life treatment of sold products and waste generated in operations (and there's more).
Beyond Bamboo's procurement services add value to your business by taking the necessary time to dig deep into the products, processes, packaging and logistics, ensuring we know the businesses personally and ensuring they are fully vetted for their green credentials. We are able to search bespoke for innovative products and pride ourselves on always offering the best available on the market. We can also consult with your teams to educate and inspire change towards more sustainable practices, for the health of your business, your people and the planet.
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