Social and Governance) reporting
Search documents
How certified eco hotels gain a competitive edge
Yahoo Financeยท 2025-11-06 09:08
Core Insights - Sustainability has transitioned from a buzzword to a critical business factor, influencing procurement decisions and consumer preferences in the hospitality industry [1] - Independent green certification is essential for hotel operators, providing a pathway to efficiency, resilience, and long-term competitiveness [1][2] Importance of Certification - A hotel's environmental credibility is assessed based on actions rather than intentions, with certification offering third-party assurance of genuine sustainability claims [2] - Certification helps properties differentiate themselves in a competitive market [2] Certification Standards - Various schemes like GSTC, Green Key, EarthCheck, EU Ecolabel, LEED, and BREEAM establish rigorous criteria covering energy, water, waste, procurement, staff welfare, and community impact [3] - These frameworks require transparent documentation and regular audits, signaling credibility to partners, investors, and regulators [3] Benefits of Certification - Hotels that meet certification standards report benefits such as reduced utility costs, enhanced staff engagement, and improved guest satisfaction [4] - Certification supports ESG reporting, which is increasingly important for brands, owners, and asset managers [4] Commercial Implications - In the B2B context, sustainability credibility influences corporate travel buyers and event organizers in venue selection, while tour operators align with GSTC-recognized standards [5] - Certification serves as both a marketing advantage and a means to forge new partnerships [5] Steps to Achieve Certification - Conduct an internal sustainability audit to assess current performance in energy, water, waste, and purchasing [6] - Select a relevant certification scheme based on market segment and region [6] - Implement measurable improvements such as energy-efficient systems and staff training programs [6] - Engage stakeholders across departments to ensure successful certification [6] - Undergo an independent audit to validate documentation and site performance [6] - Communicate certification achievements in marketing and ESG reports, ensuring data is kept up to date [6]