The (Green) Recovery Imperative: Hospitality Re-Set Or Bouncing Forward?
— 15 experts shared their view
COVID-19 has exposed many of the weaknesses in our industry in terms of risk and hazard management, contingency, and resiliency plans but also in the way we blindly deal with our environment. Crises, as damaging as they may be, trigger opportunities in product, service, and systems innovations. Investing now in climate resilience is an enormous economic opportunity as governments and the industry are looking into economic recovery. From clean energy to carbon-neutral buildings and from farm to fork strategy, the hospitality industry has the unique opportunity to be at the core of this transition, helping to shape the transformation and leading to a new, sustainable post-COVID-19 normal. So is the industry ready and willing to bounce forward into a green recovery or rather bounce back to the pre-COVID-19 norm? What components and resources are necessary and how do we go about activating a 'green recovery' in hospitality?
CEO of Kerten Hospitality
For the hospitality industry to come out of the havoc, we all need to focus on building Ecosystems grounded on sustainable supply chains with scale, as well as create elaborative business models across the larger value chain and through strategic partnerships locally and with international entities. The onus post-COVID-19 will no longer be on green investment for the recovery, but on ethical investment, sustainability for the sake of IMPACT, and growth in challenging industry times while supporting the Local Supply Chain that involves different stakeholders. Collectively, we will mature enough to engage investors, owners, guests, residents, entrepreneurs, digital nomads who will jointly foster that coveted impact.
Secondly, its mission-critical that local supply chains become transparent, responsible, and resilient with the pivot of going LOCAL where all parts are being self-sustaining. That can only be achieved when an owner and an operator share the same values: treating them as an extension of our business and engaging in a meaningful two-way dialogue.
Thirdly, 'sustainable recovery' is embedded in the soft parts and the soul of a project or the Building of a community within the larger sustainability-driven ecosystem and applying a shared commitment approach. How can you build sustainable long term value and RoI for your real estate unless you focus on long and short stays, conveniences, privacy to work and meet, with tailored and e-retail and e-food experiences. In order to deliver on this objective, we will need to admit that it is imperative to identify who you are targeting and what they want, the brands they seek, and how this connects. Ecosystems don't grow just because you make a fancy building with facilities. They grow wholesomely and will continue to grow to push the recovery in 2020 and beyond.