Sustainability KPIs: Now Part of the Discussion
By Eric Ricaurte Principal, Greenview | May 03, 2015
Co-authored by Jennifer Moon, Consultant, Greenview
What Are Sustainability KPIs?
Though sustainability KPIs cover a wide scope and may not be fully understood within the industry yet, the language is quickly changing. Just because some facet of performance is difficult to understand doesn't mean we don't still place significant value on it. Take "guest satisfaction" or "brand value" as two prime examples of difficult to measure, yet extremely significant KPIs. As such, a few key items for performance measurement clearly emerged under the sustainability umbrella for hotels-energy, water, waste and GHG emissions. KPIs around these four items can and are used to evaluate the performance of a hotel.
Uptake of Internal Tracking & External Reporting
Collecting data on sustainability KPIs has been challenging for the industry (especially considering much is derived from utility bills), but it still remains a high priority. With most major hotel companies now engaging in some sort of internal tracking (though not perfect) of sustainability performance data across their portfolios, the focus is now in external reporting which is quickly gaining popularity across not just the hotel industry, but also the global real estate sector as a whole. What's important to keep in mind is that internal tracking is like running a race. You're really only competing against yourself and ultimately your training routine and performance matter most. But once you've been tracking internally and you're doing this well, you want to graduate to the next race, which is external reporting as a component of transparency and competency (to demonstrate that you're actually measuring and monitoring this to be more efficient).
All Roads Lead to Benchmarking
The Hotel Business Review articles are free to read on a weekly basis, but you must purchase a subscription to access
our library archives. We have more than 5000 best practice articles on hotel management and operations, so our
knowledge bank is an excellent investment! Subscribe today and access the articles in our archives.