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Accor has topped the first Tomorrow’s Value Rating of the world’s ten largest hotel groups. Accor has not only recognised key sustainability challenges facing the hotels sector, says the new research, but has also designed a comprehensive approach to managing them. However, when it comes to other large hotel operators, the news is not quite so good.
"I wouldn’t be surprised if campaigning groups started hanging "please clean up your act" signs on hotel room doors," states Thomas Krick, Global Programme Manager of the Tomorrow’s Value Rating.
Researched and produced by Two Tomorrows, the leading sustainability consultancy, the Tomorrow’s Value Rating assesses companies on how well they manage their most pressing social and environmental issues. The new Rating aims to further the debate on sustainable business, and identify best practices, by examining the largest companies in globally important industries.
The Tomorrow’s Value Rating results in the following hotels ranking:
1. Accor
2. InterContinental Hotels Group
3. Marriott
4. Global Hyatt
5. Choice
6. Carlson
7. Hilton
8. Wyndham
9. Starwood
10. Best Western
Krick continues, "Accor is exploring some commendable solutions to sustainability challenges. For example, it is piloting innovative energy saving technologies and buildings, and working with communities to maximise local procurement."
Yet the Tomorrow’s Value Rating also shows that many of the world’s largest hotel groups are only just beginning to address the wide range of social and environmental challenges facing them, and most trail the rest of the business world. Many don’t recognise how these may be relevant to the success of their businesses. Even major issues such as climate change, biodiversity or local employment receive comparatively little attention and only half-hearted responses.
He explains, "Despite increasing consumer awareness of these issues, hotel groups generally provide little information on their sustainability efforts and only a few manage their social and environmental impacts systematically. These companies are running reputational risks, and missing out on opportunities for strategic differentiation.
"Tourists and businesses have reined in their spending on travel, and the sector is having a tough time. But those that fail to take sustainability seriously now are going to find it even harder in future."
The Tomorrow’s Value Rating examines companies’ performance in five key areas: Strategy, Governance, Engagement, Value Chain and Innovation. Assessments are based on companies’ public disclosures, and the methodology draws on five years’ experience with its predecessor rating, the Accountability Rating.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
