New Hotel Accounting Metrics Designed To Benchmark Sustainability Efforts
Energy, Water and Waste a Focus of 12th Edition of Uniform System of Accounts for the Lodging Industry
In a move to help hoteliers with sustainability efforts, a global committee is working on a way to help them better track their carbon footprint and enact metrics for use industrywide.
In a move to help hoteliers with sustainability efforts, a global committee is working on a way to help them better track their carbon footprint and enact metrics for use industrywide.
The Global Finance Committee, a co-sponsored committee created by the American Hotel & Lodging Association and Hospitality Financial and Technology professionals, has worked with the AHLA’s Sustainability Committee to create a new way to track, and eventually benchmark, hotel sustainability efforts.
As part of the upcoming 12th edition of the Uniform System of Accounts for the Lodging Industry, the Energy, Water and Waste section will break down and track hotels’ energy and water usage as well as waste production.
The new section of USALI will build on the Utilities Schedule 9 portion of the 11th edition of USALI, said Ralph Miller, committee member and president of Inntegrated Hospitality Management. The previous edition laid the groundwork for the EWW by creating operating metrics that would capture consumption data that the industry hadn’t tracked before.