Sustainable Development in an Unsustainable World: ESG as a Hotel Survival Strategy
摘要
Implementing sustainable development practices in hotel operations is critical as it minimises adverse environmental impacts, optimises resource utilisation, and enhances corporate social responsibility. By integrating environmental initiatives, social programs, and ethical corporate governance principles, hotels can improve their competitiveness, meet the growing expectations of environmentally conscious consumers, and contribute to long-term environmental and social well-being, securing a positive reputation and ensuring business resilience in an increasingly sustainability-focused market. This study uses the case of the war in Ukraine to examine the impact of environmental, social and governance sustainability practices (ESG) on hotel operations and consumer perceptions in a high-risk environment. The study investigated three main hypotheses using qualitative and quantitative methods, including interviews, surveys, and regression analysis. It has been determined that in times of increased instability, there is a growing focus on implementing ESG sustainability goals in hotels, especially in the social and governance areas. Consumers are more critical of these goals and are willing to pay a higher price for security. There is a positive correlation between implementing ESG goals and customer satisfaction. The study shows that ESG practices are key to ensuring the hotels’ viability in an uncertain environment and increasing their value to consumers. The study’s results impact hotel management in an uncertain environment, emphasising the importance of ESG practices as tools to ensure customer safety and satisfaction.