Implementing ¶ESG in 2023: ¶Less talk, ¶more action
The environmental dimension (E) is taking precedence as the hotel industry joins the race to reach net zero carbon emissions. Sustainability programs are evolving quickly as customers and asset owners demand green credentials and make net zero commitments. Despite good intentions, emissions from real estate are at an all-time high and hotels face a greater challenge to reach net zero goals due to their high energy use intensity.
Uncertainty and change keep many people awake at night – even in the most comfortable hotel bed. Right now, there’s plenty to ponder in the early hours, from the impact of record-high inflation and rising interest rates to supply chain issues. Throw climate change and the growing pressures of complying with incoming regulations around building emissions and a restful night’s sleep all but evaporates.
Yet it’s not all doom and gloom. While uncertainty and change are disruptive forces, they’re also a chance to rethink old ways of working and try out new ideas. And we know the old ways aren’t going to cut it in a more sustainable, inclusive world – a world that consumers and employees increasingly want to see businesses play a lead role in shaping.
The Hotel Yearbook 2023 - Annual Edition
As we have embarked on 2023, it is evident that the hotel industry has made a robust recovery from the
pandemic.
Occupancy and pricing have returned to their pre-pandemic levels. However, the future of our
industry is contingent
on how nimble the hospitality sector can be in adapting to ongoing innovation, changing market
conditions, evolving
consumer preferences, new staffing challenges, and sustainability realities. These uncertainties are
the new normal
in an unpredictable world.