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Global travel bans, restrictions and remote working continue to impact the hospitality landscape inextricably. The pandemic has shown that the negative impact of humanity on the environment can be slowed and behavior change accelerated. This is the perfect time to act.
The Earth is straining under the mass of humanity. Before the aggressive market disruption, the hospitality industry was set to continue to respond to consumer demands with further growth and development. Now, the challenge has changed, requiring a rebuild of the industry. This is an opportunity to stop depleting resources, ensure human well-being and have a net-positive effect on climate change.
Foremost, the hospitality industry must align sustainable business goals with financing, challenging conflicts of long-term return versus short term yield. The transition to sustainable practices will require changes in financial goals and investment, especially within the real estate asset business.
This study was conducted with funding from White Research Lab (WRL) by White Arkitekter and Royal Park Hospitality Hub.