Driving Resiliency and Sustainability in Hospitality: Five Priorities for 2021
23 experts shared their view
Recovery, resilience, recalibration, or bouncing back are a few examples of keywords that are at the center of any discussion surrounding the hospitality industry's economic prospects this past year. However uncertain the economic future may be, major crises of earth systems are unabated to date. While similarities exist between resiliency and sustainability (i.e. both concepts refer to the state of a system or organization over time in response to instabilities), there are notable differences, and conflicts, in the two concepts (i.e. achieving short-term economic resiliency at the expense of socio-environmental wellbeing). Looking forward, all eyes are on resiliency (growth!) in hospitality but how do we decouple growth from impacts, most notably carbon emissions? How do we ensure that sustainability is a component of resiliency (or vice versa)? What are the five priorities the hospitality industry should set to tackle resiliency and sustainability at the same time in 2021?
There is a reason for optimism, I think – we are all in the same boat, which pushes for solutions acceptable by all. Thus, for example, technology providers also face difficulties to supply technologies to clients that are low on investment appetite at the moment. This gives popularity to a profit-sharing model, or ESCo, with zero investment for technology, and a period of profit sharing to pay off the technology installed. When the carbon price will be established, the same logic will apply to a larger degree also to providers of renewable energy sources, not only to energy-saving equipment. And this will help to combine GOP recovery due to the cut in utilities, with a sustainable reboot of hospitality (and other) business. This model requires financial facilities to help technology providers, however with the Green Deal in Europe, and many notorious countries joining the carbon neutrality race, it should be a matter of time. Hopefully, not for a very long time.