Investing in renewable & eco-friendly resources can help improve your hospitality properties overall profit and patronage.
Welcome to another edition of Hospitality Property School.
Today, I am going to look at “Investing in Renewable & Eco-Friendly Resources”.
Investing in renewable & eco-friendly resources can help improve your hospitality properties overall profit margin. Today, many travellers prefer to accommodations that are environmental-friendly rather than an ordinary hospitality property room.
With climate change and the environment grabbing the headlines, increasing pressure to cut carbon emissions and rising electricity prices, saving energy is on many hotelier’s and innkeepers priority list.
Renewable power, including wind and hydroelectric power, are set to rise by 40 percent over the next five years.
While less than 2% of the world’s electricity is currently generated through solar technology, a recent report estimated that this figure could increase to as much as 13% by the year 2030.
It’s clear that renewable energy is here to stay as more companies embrace it and in this group, the travel industry stands out.
Here are some examples of the renewable power is being used by the travel industry to lower operating costs and support a sustainable future.
The solar energy industry is set to grow by more than $65 billion.
Today, three-quarters of solar installations are less than a couple of years old and hospitality properties of all sizes are quickly taking to this technology. Although solar power installations can take as long as a decade to pay for themselves, they can cut energy bills by 60 percent. For this reason, more properties are choosing this option.
The terms “wind energy” or “wind power” describe the process by which the wind is used to generate mechanical power or electricity. Wind turbines convert the kinetic energy in the wind into mechanical power. Based on the size of a property wind energy can cover half the electricity bill each month.
Geothermal energy is thermal energy generated and stored in the Earth. The geothermal gradient, which is the difference in temperature between the core of the planet and its surface, drives a continuous conduction of thermal energy in the form of heat from the core to the surface.
With many countries around the world ready to embrace geothermal energy, it is ready to double in size.
Biodiesel refers to a vegetable oil- or animal fat-based diesel fuel and is quickly becoming more popular. The U.S. economy reaped more than $4 billion from it in the past year. There is a property in Sweden that turns its organic waste into biodiesel at a nearby plant.
The biodiesel that results from this and similar projects in Sweden are powering the nation’s vehicles.
Waste management is a significant issue at hospitality properties, which are increasingly running programs to reuse linens and towels. Guests can choose to dry their towels and keep the same bed linens rather than getting new ones each day. To deal with waste from gardens and kitchens, some properties send waste to biogas plants.
Renewable energy sources are becoming popular with consumers and businesses around the world. Hospitality properties, which are major energy consumers, have taken a lead in embracing these new sources of energy. Along with saving money, renewable energy sources boost customer perception of hospitality properties and support a healthier future for everyone.
If you have any stories about Investing in Renewable & Eco-Friendly Resources and would like to share or have any questions or feedback you can leave them in the comments section of the show notes.
You can find them at:
That’s it for this session of hospitality property school.
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So, as always, let’s work together to put heads in your beds.
Until next time, have a fun day.
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