Willy Legrand, professor at IU International University of Applied Sciences and one of the leading experts on sustainability in the hospitality industry, has been invited as Chief Guest Editor of this year's Hotel Yearbook (HYB) Hospitality ESG Edition.
In the foreword to the yearbook, Willy Legrand states:
"In today’s competitive environment, ESG lies at the core of business strategy. Crucial to advancing sustainability is to leverage innovation which offers vast opportunities to mitigate impacts, and adapt to changing socio-economic and environmental conditions but also to engage in a regenerative, net positive approach. The field of sustainable innovation is ripe for exploration.
Thus, the "innovation stack" refers to a collection of technologies, methods, and strategies that, when effectively combined, can revolutionize the way the hospitality industry operates. Considering the convergence of global systemic risks (see: HN World Panel on Hotels and Global Polycrisis), expanding this innovation stack can ultimately lead to more resilient, adaptive, and future-ready hospitality businesses.
ESG also translates into an immense pressure to commit to performance: investors expect ESG data, regulators require transparent ESG disclosures, distributors and guests desire trustworthy information.
However, unlocking this innovation stack requires understanding the unique challenges faced by the hospitality industry, and developing tailored solutions. The key lies not just in individual practices, but equally in the access, scalability, and application throughout the value chain."
The global hospitality sector is at a crossroad when it comes to implementing sustainability. Consumers demand trustworthy information while regulators and investors expect transparent disclosure on sustainability performance. Owners, brands and managers aim to mitigate the sector’s footprint thus reaping the financial and reputational benefits. Industry players that fail to adopt a sustainability strategy or fall short in the implementation stage may struggle to remain competitive in the long term. Industry experts and researchers identify key areas where sustainable innovation can have the greatest impact, developing new technologies and solutions to address sustainability challenges, and creating policies and incentives that encourage the adoption of sustainable practices. The HYB 2024 Hospitality ESG Edition aims to unlock the sustainability innovation stack by highlighting the range and interconnectedness of sustainable technologies, systems, and practices that can be combined in a holistic way that creates a more sustainable hospitality ecosystem.
The Hotel Yearbook is a family of publications on the global hotel industry targeting senior executives, analysts, consultants, and opinion leaders from all over the world.
Read more here: https://www.hotelyearbook.com/edition/esg-2024.html
