To reflect on the importance of sustainability in this ever-evolving sector, Ruben Sanchez, CEO and co-founder of hospitality technology platform BEONx, shares his understanding of the relationship between sustainability and profitability in the hospitality industry.
Big Interview: What is the route to sustainable profitability for the hospitality sector?
How has sustainability evolved within the hotel sector?
Sustainability has gone from being a trend to becoming a fundamental aspect for hotels. It is essential for a hotel's reputation and long-term success, in addition to meeting the needs of environmentally conscious customers.
What role does BEONx play in the innovation of sustainable revenue management?
BEONx is at the forefront of this change by offering innovative revenue management solutions that enable hotels to strategically align pricing strategies with sustainable practices. The integration of its technology with sustainability management systems such as Bioscore allows them to maximise revenue and maintain a balance between profitability and environmental responsibility.
How does your integration with Bioscore benefit hotels in terms of sustainability and market positioning?
The integration with Bioscore provides hotels with a comprehensive assessment of their sustainability performance and environmental impact. By including this score in the BEONx Hotel Quality Index, hotels gain essential information to improve both sustainability and financial performance, striking the right balance between profitability and environmental responsibility.
By highlighting their sustainability achievements, hotels enhance their reputation and attract eco-conscious guests. The integration also enables the suggestion of optimal pricing strategies based on the sustainability score, improving transparency and contributing to a more sustainable future by maximising revenue and promoting environmentally friendly practices.
How do sustainable hotels contribute to long-term success?
In a world where consumers value sustainability, sustainable hotels stand out by reducing their ecological footprint and attracting environmentally conscious travellers. Not only do they reduce operating costs, but they also promote positive change in the hotel industry as a whole.
Adopting sustainable practises is a moral obligation as well as a strategic choice. In a saturated market, integrating sustainability provides a competitive advantage by attracting environmentally conscious travellers and generating loyal customers.
What is the BEONx Hotel Quality Index (HQI)?
The BEONx HQI offers a comprehensive analysis that incorporates online reputation, customer segmentation, and sustainability scoring. It enables hotels to understand their market positioning and optimise pricing strategies aligned with customer expectations and willingness to pay.
What are the main challenges facing the hotel sector in terms of sustainability and profitability?
The hotel sector faces the challenge of increasing its offer to accommodate more guests, building more establishments, and reducing its carbon footprint to achieve full decarbonisation by 2050. This implies a need for a significant reduction in emissions per room per year, approximately 90%, to comply with the Paris agreements. This target must be achieved in a context where the hotel industry is experiencing steady growth, with more than 80,000 new establishments projected by 2050.
How do economic aspects affect the drive for sustainability in the hotel sector?
In addition to the de-carbonisation target, there are economic incentives to promote sustainability in the hospitality sector. Growing environmental awareness among travellers, especially millennials, is driving a preference for services and products from companies committed to the environment and society. This translates into a willingness to pay more for these services, incentivising hotels to commit to sustainability. In addition, sustainability contributes to attracting this type of traveller by caring for the environment and improving the quality of the travel experience, thus generating a competitive advantage for hotels.
In short, how can sustainability and profitability coexist in the hotel industry?
The key is to integrate sustainable practices into the revenue management strategy. BEONx demonstrates that this integration can drive long-term success by attracting environmentally conscious travellers and contributing to a more sustainable future. Using technology and data effectively is essential to achieving sustainable profitability and a positive impact on our planet. On this World Tourism Day, let us reflect on these developments and come together to build a more sustainable future for the hospitality industry.