New insight has been commissioned to help hotel branding, marketing and commercial leaders to design a more appealing, prosperous and valuable brand while also accelerating their path to sustainability.
The research study, commissioned by management consultancy for the hospitality, travel and leisure sector PACE Dimensions (PaceDimensions.com), will demonstrate how sustainability has impacted the way that consumers and corporate buyers behave. Using this data, it will also set out a pathway to create a more appealing brand, boost performance and meet sustainability goals.
The report will help hotel businesses to understand the size and structure of the market and how that has changed as a consequence of sustainability as a rising decision-making factor in selecting hotels. It will also demonstrate what customers care about, to what degree they care about it, and how that influences their hotel selection and buying decisions; setting out where they are prepared to pay more for sustainable choices. It will also showcase how consumers perceive hotel groups currently, based on their perception of their sustainability.
In addition to the insights, alongside the report there will be an intelligence-based query tool that will help business decision-makers to interrogate the data to better understand the nature of customer buying behaviour and perceptions by geography and customer segment.
Tim Davis, PACE Dimensions founder and MD, said, "Enabling travel and hospitality companies to improve results and make better business decisions is at the heart of what we do at PACE Dimensions. The path to true sustainability means making a positive impact on the environment, people and communities, whilst simultaneously turning sustainable investments into a more prosperous business. It is this belief that has driven us to invest in this world-first research which will bring valuable insight to enable a more informed sustainability and brand strategy. We’re excited to be launching this research and the opportunities it will support for hotel businesses and the wider hospitality sector."
Emerging research findings show that 35% of consumers factor sustainability into their criteria when it comes to selecting a hotel, and more than one in three (36%) are also willing to pay more for sustainable options. 59% of travellers think that governments and large companies should be leading on sustainability, climate change and the environment, and making it easier for consumers to make sustainable choices.
There is a clear role for education on the good work that is being done in this arena, as 4% of respondents could not name any sustainability certification standards when asked but said this would be a deciding factor in their choice.
Further detail on PACE Dimensions' large-scale hospitality study, which has been conducted in partnership with market analyst BVA BDRC, will be available in the coming weeks.
Travel and hospitality businesses can find out more about the PACE Dimensions research project and register their interest at PaceDimensions.com.
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