Robbinsville, NJ (PressExposure) February 15, 2011 -- With 80% respondents planning to take more or same number of business trips in 2011, how can your hotel differentiate itself?
A new business traveler study conducted by Deloitte's Tourism, Hospitality & Leisure (THL) practice indicates corporate travel is anticipated to increase in 2011. This is great news, boosting customer demand for the hospitality sector and still consistent with third-party survey data.
The report projects that by the end of 2011, 80 percent of business travelers polled predict they will take more or the same number of business trips than they did in 2010. It also indicates 79 percent of the respondents are willing to spend the same or more. This could mean a great deal in terms of profit margins as green hotels implement energy efficiency projects and sustainable initiatives that decrease costs.
This Deloitte report is just one of numerous thrid-party studies that have been trying to capture, understand and quantify the growing trends around the eco-concious customer. With consistent studies expressing that travelers not only have an interest in green hotels, but also actively seek out these green hotels, hotel owners and operators need to ask themselves where they fit in with the respondents' wants and values.
The hospitality industry, especially hotels, hotel management companies, hotel operators, owners, and investors that currently have not incorporated a sustainability or green strategy for properties (or property since it's all about competition) should ask themselves:
Question 1:What more information is needed to illustrate to you and your stakeholders that investing in 'green' is critical to your revenue stream and attracting and retaining customers?
Question 2: If third-party research data, customer feedback and competitor comments are indicating the same consistent message that travelers are actively searching for and willing to spend money to stay at a green hotel, would you make the key decision to invest in 'green' programs?
Aside from the business benefits of sustainable and green projects such as operational efficiencies, cost savings, employee value connection, marketing, branding, and improved publications, key hotel decision makers should really consider these questions and ask themselves what are they doing to prepare their long-term strategy.
So, is your hotel included in the pool of customers and prospects that are choosing hotels because of their green values? If so, are you marketing your green hotel initiatives to this market segment? If not, what is this costing your business and hotel? Can you afford to give up that share of the market?
Susan Patel, VP of Technologies & Communications received her B.S. in Economics from Rutgers College at New Brunswick and has over six years of financial and investment analyst experience. Driven by her passion for sustainability and economic development since childhood and through philanthropic adventures internationally, Susan now leads business development and operations at EcoGreenHotel and is the Site Director and Managing Editor of EcoGreenHotel online publications.