Augsburg (July 16, 2021). Before investors invest in sustainability, they often stereotypically ask for benchmarks and scalability, thus quickly pushing the issue back to the operator. They are supposed to find the right tool. In reality, other forces now determine what happens. In future, all practitioners will have to operate with new “ESG KPIs”. “Master the Measurement!” is the name of the panel discussion at the HITT Think Tank in September, which describes surprising changes in sustainable benchmarks and tools. Sparkling stuff for investors, operators, bankers and builders.
Almost weekly, international organisations (UN, G7, G20) and national governments set new and ever higher sustainability targets. The aim is to subject all industries, including tourism and hospitality, to higher visibility. In the hospitality industry itself, asset managers are taking the issue in hand unnoticed in the background, says Xenia zu Hohenlohe, Founder of the sustainability consultancy The Considerate Group: They are working on the (political and practical) standards in order to integrate them into their financial reports. The largest institutional investors have already joined forces in a global lobby initiative.
This means that in the background, the investors and the big chains determine the path to measurability. “The big players, driven by the strong capital providers, will only think in terms of issuing strategies in the future. For the individual family hotel, perhaps an eco-certification will suffice in its financing,” Xenia zu Hohenlohe translates the activities into everyday life.
And with that, everyone is back to data. If you want to know how sustainable your hotel (or your brand, your operator) is, you have to collect measurable and comparable data with the help of systems that provide digital basic data in real time (e.g. from BIM/Building Information Modelling or from operational systems, for example on energy or water consumption).
There are international platforms and certifications, some of which are excellent and many of which are less credible, says the ecologist and globally experienced hospitality consultant Tony Williams, who will join the panel at HITT and comment on this jungle.
On the way to new KPIs
At the end of the day, a hotel’s sustainable measures are reflected in the hotel’s business metrics. “Asset managers as well as general managers will very soon have to work with new ESG KPIs,” the two sustainability experts predict with conviction. The – governmental and legal – requirements from the areas of environment (Environmental), social (Social) and responsible corporate management (Governance) will change the core of KPIs. “For the first time, sustainability and commercial performance are directly linked,” Tony Williams sums up.
In future, however, not only hotel GMs will have to understand these connections, but all those involved in the planning, financing, construction and operation of hotels: Their knowledge also drives the board decisions on sustainability at the operational company level, but also the decisions at authorities and lenders – and last but not least at the customer, the guest.
The discussion will show the way how sustainability can be implemented operationally through a roadmap of measures: digital, service-oriented and practical. / map
JOIN the two experts:
Xenia zu Hohenlohe, Founding Partner, Considerate Group
Tony Williams, Ecologist, Conservationist and Consultant, Destination-360 Consulting Services
on Day 2 of the HospitalityInside Think Tank (HITT): 14 September at 14.15 h (CET).
THEIR HITT IMPULSE: Master the Measurement! Which sustainable & digital tools in the market benefit operators and owners? Brainstorming and searching for innovations, systems, benchmarks and certifications.
THE VITA of Xenia zu Hohenlohe and Tony Williams can be found here.
The big topic of the HospitalityInside Think Tank 2021:
SUSTAINABILITY & DIGITALISATION: THE CHANGE DRIVERS.
The Decade of Action: How Sustainability leads the agenda,
how Digitalisation enables it.
And here you go directly to the registration!
SAVE THE DATE:
HITT, the HospitalityInside Think Tank 2021
on 13/14 September in Munich,
LIVE in a relaxed co-working space and VIRTUAL,
in English language.
WE WOULD LIKE TO THANK THE SPONSORS OF THE HITT 2021:
Logos: companies / Top photo: Markus Spiske