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Learning ESG like vocabulary. And speaking.

20.10.2022

Dear Insiders,

Do you know how I feel when I occupy myself with the topic of ESG? It feels like learning vocabulary. First, you learn words, then you build sentences, but my counterpart does not understand me yet as I used a wrong word at a wrong place. But I just keep going through this nebula: At some point, I will find the correct word for the perfect phrasing.

Your colleagues are certainly able to explain to you, what articles 6, 8 or 9 mean in EU taxonomy language, for example. In panel discussions such as the ones at the Expo Real, you already got to know what parts of this gigantic set of regulations are valid or which ones do not make any sense. In addition, I think it is good to know that even leading people from investment, real estate and hotel operations admit moving through this topic with great caution. Everybody is learning vocabulary.

Therefore, the hints and clues provided by Theodor Kubak of Arbireo Capital, Karl-Heinz Pawlizki of Arabella Hospitality, and Andreas Ewald of Engel & Voelkers Hotel Consulting regarding their everyday lives are even more valuable for you. Here is one of the findings: Only hybrid lease agreements are suitable to integrate sustainability criteria.

And everybody needs to talk more to everybody! Much more! Good communication between investors/owners and operators increases efficiency. This was the finding of my colleague Beatrix Boutonnet from a panel discussion about contractual adaptations and this motivated her to describe the importance of speaking to each other among you Excel sheet freaks. People, who speak clearly, appear convincing and transparent, and can modify the vocabulary during negotiations more easily.

I can see that the first ones among you – bored by my words – are already beaming their Excel tables to their screens! The topic of communications is not as trivial as you might think. The Motel One Group just received an offer for its first hotel in New York because of this topic.

The consumers do not need to learn to talk but they must learn to keep their promises. Tourism scientists are slowly detecting signals that the consumers are ready to pay more for sustainable travel. The willingness to pay CO2 compensations is increasing. Eco labels in hotels, however, fail to have the desired effect.

This week's announcement of KlimaLink is praiseworthy: The new association, comprised of 22 travel companies and associations, wants to define a uniform standard for the definition of the CO2 emissions, and this for all travel providers, also including hotels.

On Wednesday, I visited the new Scandic Hotels in Munich: chic, nice, cosy and sustainable. Actually, such concepts should be located right in the city centre and not in the outskirts, even if this is part of a mixed-use quarter. Whether the ITB Berlin 2023 will be able to take the leap from the virtual world into the real world again or not, remains open after this week's press release. Renowned destinations are returning with a stand, but information about the hotel world is not available. Didn't this industry used to be one of the trade fair's pillars!?

Four Seasons has a new CEO – we have to wait and see if he is able to force the hotel expansion. The HR Group in Berlin dismissed both Managing Directors of Success Hotels; the mutual trust was no longer existing, they said.

You will find these topics and more, with many facets and background information, in today's edition! As always, we will provide you with the latest market news in compact form.

Finally, this is our last call for the participation in our Investment BAROMETER! Next Monday, we will be closing our autumn survey! The evaluation will then be ready next Friday… So please click here!! Just two minutes of your time for more insights and more communication!

Yours, Maria Pütz-Willems
editor-in-chief

Your opinion? editor@hospitalityInside.com

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