Deloitte’s Tourism, Hospitality and Leisure group has published a five-year follow-up to its ‘Hospitality 2010’ report. ‘Hospitality 2015’ is a detailed and interesting review of many facets of this fast-moving industry. It includes insights into: new patterns of consumer behaviour; the increasing influence of the Baby Boomer generation; changing disposal income in India and China; the demand for ‘lifestyle’ brands; the challenges of high staff turnover; and the increasing impact of consumer online access.
However we were left a little disappointed that such a thorough report would cover sustainability in so much detail without establishing a link between best practice green initiatives and any immediate financial benefits. During more than 36 years of working with the hospitality industry, we have consistently found that sustainable practices, such as furniture asset management, preserves more than the environment; they also save the bottom line, protecting up to eighty percent of budget spend.
Sustainability is undoubtedly important in its own right, and a demonstrable commitment to decreasing the environmental impact of hospitality – an asset-heavy industry with a large ecological impact. But in order to effectively drive change while communicating the benefits in an industry under constant pressure to deliver shareholder value, maximize budget spend and demonstrate solid fiscal sense, it is also vital to link sustainability to positive financial impact.
The word ‘sustainability’ is used in Deloitte’s report more than 80 times. The word ‘financial’ is used fewer than 15 times. As industry experts in furniture asset management, we find this surprising, even before considering Deloitte’s position as one of the world’s largest professional services firms delivering corporate financial advice. Hoteliers, general managers, brand owners and facility managers all want to prove their commitment to sustainability in a resource-intensive industry, but they need to do this under enormous financial pressures.
We’ve approached Deloitte’s Tourism, Hospitality and Leisure group for its thoughts on how sustainable and financial initiatives might be linked more clearly to help drive change in the hospitality industry. We’ll be sure to share any response with you.
Want to hear more about the positive sustainable and financial results we’ve delivered to hotel brands including Hilton, IHG, Starwood and Marriott? Then please contact us: firstname.lastname@example.org.