Successful Case Study example tips:
- ESG (Environmental, Social, and Governance) is gaining importance in the hospitality industry, encompassing sustainability, social responsibility, and ethical governance.
- The "S" (Social) aspect includes guest and employee well-being, diversity, equity, inclusion, and human rights, while "G" (Governance) includes ethics, fair wages, and corporate/board diversity.
- Steve Siegel, COO of KSL Capital Partners, emphasizes that the hospitality industry can have both positive and negative ESG impacts due to its energy and resource consumption.
- KSL has adopted an ESG framework across its portfolio, focusing on specific goals in the "E," "S," and "G" areas to drive positive change at the local level and within communities.
- ESG strategies are seen as not only the right thing to do but also potentially ROI-positive, with millennials and Gen Z considering ESG values when making decisions.
- Amanda Hawkins-Vogel, EVP of operations at Twenty Four Seven Hotels, stresses the industry's responsibility to be mindful of the environment and community.
- Twenty Four Seven Hotels implements environmental measures like water-saving fixtures and explores solar energy while also investing in social responsibility through leadership development.
- ESG efforts at Twenty Four Seven Hotels have a clear ROI, particularly in enhancing the guest experience and attracting companies with ESG preferences.
- Mike DeFrino, CEO of Kimpton Hotels & Restaurants, emphasizes the importance of an ESG strategy for environmental and community impact.
- Kimpton has achieved 100% Green Key Eco-Rating and participation in TripAdvisor GreenLeaders, focusing on environmental practices and partnerships like Clean The World.
- Kimpton's ESG programs, such as rooftop solar systems and operational changes, offer both environmental benefits and long-term cost savings.
- Kimpton values guest appreciation for ESG efforts and sees ESG as an opportunity to make a real impact at both the local and global levels.
Suggested Tips:
Start by assessing what is important to guests and employees;
Connect with local and national charities or organizations striving to make a difference and partners with like-minded goals who can provide resources and support; and
Assess where in your network you can make changes or upgrades to better suit the environment.
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