How to Make Your Property Eco-Friendly | Ep. #288

Hospitality properties of the future have to be green. Establishments across the world that have seen the light are reaping the benefits so I’ll show you how to make your property eco-friendly.According to recent reports, 70% of global travellers say they would be more likely to book accommodation knowing it was eco-friendly, whether they were looking for a sustainable stay or not.Investing in renewable & eco-friendly resources for hospitality properties used to be a luxury, but now is necessary. Today, it can help you improve your property's overall profit and patronage. Renewable power, including wind and hydroelectric power, is set to rise by 40 percent over the next five years. While less than 2% of the world’s electricity is currently generated through solar technology, a recent report estimated that this figure could increase to as much as 13% by the year 2030.It’s clear that renewable energy is here to stay as more companies embrace it and in this group, the travel industry stands out. Without a program in place, hospitality properties can be very wasteful and consume a huge amount of resources but don’t panic, many greening initiatives are not expensive to implement and can provide substantial benefits to your business!There are three key areas of the environmental impact that properties should consider; energy, water, and waste.Energy - Excessive energy use is extremely costly but with minor adjustments, it can lead to massive cost savings. Waste - One study estimate identified that an average hotel produces in excess of one kilogram of waste per guest per day. The good news is that approximately 30 percent of waste in hotels can be diverted through reuse and recycling.Water - Tourists and residents alike require a clean and dependable supply of water for survival including drinking, cooking & cleaning. Water is also integral to the amenities usually expected by tourists, such as swimming pools, landscaped gardens, and golf courses. Water also supports industries such as agriculture that support the tourism industry. Several studies have indicated that economic benefits can be gained in hospitality properties through implementing environmental and social initiatives; many with little or no capital. In addition to cost benefits, there are also benefits to choosing an environmentally sustainable strategy.These include:• Gaining competitive advantage by being a leader in the industry• Customer loyalty• Employee retention• Awards and recognition• Regulatory compliance• Risk management• Increased brand valueBut the major benefit is because it’s the right thing to do!Continue reading and I’ll share with you examples of renewable power being used by the travel industry, right after a word from our sponsor…⇒ TO READ OR LISTEN TO THIS EPISODE ON KEYSTONE HOSPITALITY PROPERTY DEVELOPMENT:https://keystonehpd.com/how-to-make-your-property-eco-friendly-288Get your copy of the “How to Improve Your Hospitality Properties Success” ebook? https://keystonehpd.com/how-to-improve-your-hospitality-properties-successGet Your INNsider Tipshttps://KeystoneHPD.com/INNsider-TipsJoin one of your private groupshttps://keystonehpd.com/private-groupsSay hi on socialFacebook: https://www.facebook.com/KeystoneHPDTwitter: https://twitter.com/KeystoneHPDLinkedIn: https://www.linkedin.com/company/keystone-hospitality-developmentListen to The Hospitality Property School PODCAST herehttps://www.keystonehpd.com/hospitality-property-school-podcastsYouTubehttps://youtu.be/u1DXI0qjjkwA Division of Keystone Hospitality Property Development