Start-Up Hotels And Environment Sustainability- Benefits And Strategy

Abstract

Environment Sustainability for a firm means including concern for environment along with the profit motive as its prime objective. Businesses all over the globe are identifying the potential benefits of incorporating environmental sustainability in their strategic framework. The hospitality industry and specifically hotel industry are also making an attempt to reap the benefits of inclusion of these initiatives in their organizational objectives. Established chains of hotels like ITC, Marriott and Hilton have long back included policies and procedures for encompassing environmental concerns in their core values. The startups in the hotel industry are faced with tough competition. An attempt to include environment sustainability in their core values might provide the much needed leverage to the upcoming businesses. This brings a need for startup hotels to understand the benefits associated with environmental sustainability and devise a strategy to encourage such actions and practices in their new business. This study attempts to understand the benefits of being associated with environment sustainability for a startup hotel and tries to devise a strategy for the same. The research paper is an attempt of exploratory research, based on the secondary data sourced from journals, magazines, articles and media report.   The benefits range from reduced costs, enhanced brand image and visibility, better value chains to getting a competitive edge for a new business. A startup while facing severe competition can enhance its chances of success by adopting environment sustainable practices in its core values.