NO STONE UNTURNED: 'ESG IS BECOMING AN IMPORTANT CRITERION FOR CONSUMERS WHEN CHOOSING A HOTEL'

Sustainability is becoming increasingly important in the choices consumers make. For many hotel guests, ESG is not yet the most important criterion when selecting a hotel, but that will change, says Luc Boschmans, Managing Director Hospitality at Tristan Capital Partners. “Sustainability needs to be our focus in order to be prepared.”

ESG is the biggest game changer in the sector in the coming years, according to Boschmans. Not only because investors and property owners are paying closer attention to sustainability, but increasingly so are consumers. “It is already important for many corporate guests and companies, ” says Boschmans. He expects that it will not be long before sustainability is a major consideration for consumers when choosing a hotel.

But how can consumers measure how sustainable a hotel is? There aren't really any tools for this yet, but Boschmans expects there will be a consolidation of certificates and labels. “At the moment there are really a lot of them. There are all kinds of green labels and companies that look at different components. That will change, so that as a consumer you will soon be able to easily compare hotels. It will also be a lot easier for the owners of hotels. They will soon be able to say: this is your ecological footprint if you stay with us. That's not there yet, but it's coming.”

More than environmental criteria

ESG is primarily an opportunity for hotel investors, according to Boschmans. For example, by acquiring outdated office buildings that can no longer meet ESG requirements. “You can easily convert them into hotels. 'Retro-fitting' as it were.”

When it comes to ESG, it should be about more than just the environment, says Boschmans. “It is often about the E for Environment, but we also spend a lot of time on the S for Social. What about the people who work in the hotels? Are they happy? How can we help them improve things? What feedback do we get from our guests? This is not only about hard data and metrics, it’s also softer topics. But that doesn’t mean they are not at the top of our agenda.”