Sustainability for Prosperity – an Economic Rationale for Investing in Sustainability in Hotels, Resorts and Destinations

When we in TLC Harmony were looking for economic incentives and rationale for promoting Sustainability in tourism and destination development. We were struck by the lack of readily accessible evidence to persuade investors why they should invest, build, and operate sustainable hotels and resorts.

Given this lack of a clear evidence based argument, we decided to trawl, with the help of academic colleagues, some of the research out there and put it together in a little briefing for ourselves and colleagues.

What was interesting was that other industries like, food and beverage; car producers, and even fashion, were way ahead of the curve and getting a clear economic base for change established. Seriously, a 200% price premium for organic carrots!!!!!. I know its true, because my 83 year old Mum loves organic food, despite the price hike, and thinks it’s a deserved self indulgence.

There is some good and persuasive evidence out there, that says its good for the business bottom line to go sustainable. It attracts customers, creates loyalty, is brilliant marketing and, ahem don’t let anyone else know, it is linked to higher prices that customers, particularly affluent ones, are happy to pay and expect to pay.

I’d going to quote a little bit from CEO of Bentley Cars: Being green is “spurring the world’s millionaires and billionaires to make luxury purchases, based on a system of values such as reduced carbon footprints and sustainability”. “There is a new dimension in the purchase decision – the ethical value,” “this – is manifesting so strongly among the world’s top 1 per cent that it is influencing Bentley’s product planning for the next two decades.

Seriously people if you have a premier and high quality destination that you are building, adapting or managing. You need to ensure its sustainable from design, to build, to operation; otherwise those High Value guests you’re after, are going to stay away, well they might stay, but they will be rather embarrassed to acknowledgement to their friends that they couldn’t afford the sustainable option……

Catch us at the TLC RESET Tourism event on the 25th May, to discuss and hear more

Feel free to download and use the brief. The links are below:

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1 Comment

  1. If hotel general management better understood clients needs for integrated wellness and
    sustainability together then they would see increased revenues.

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