March 29, 2022
After a difficult couple of years, the hospitality sector was starting to look forward with increasing confidence as hotels reopened their doors and welcomed back guests.
Now, we have been buffeted again by the Russia/Ukraine conflict. Beyond the immediate human misery and incredible suffering of millions of Ukrainians this has had the effect of kicking off a huge rise in energy prices and surging inflation around the world. Rising energy prices provide further impetus, if they were needed, for every business to re-assess their energy usage and cut costs wherever feasible.
In the meantime, driven by a tidal wave of newsflow and supported by conscientious individuals, companies, governments and a panoply of regulation, there is a reassuring purpose and momentum behind ESG across all facets of life, that means ESG is now on every corporate agenda. Even those companies that initially engage only superficially, would be well advised to change their approach to realise the commercial benefits that proactive engagement with the ESG agenda can deliver: future-proofing the business, delivering financial efficiencies; improving staff engagement and retention; brand-building; and stronger community engagement.
As we talked about in our blog on greenwashing legislation, greenwashing is only likely to be a passing phase on a longer journey.
Although lockdown has been a challenge for Considerate, alongside our clients, we emerge from lockdown stronger, leaner, more international and with a renewed sense of purpose, ready to serve existing clients as well as address new opportunities. We are working with increasing numbers of asset owners (asset managers, private equity and owner-operators), and have also launched a new ESG due diligence solution into the market, to help assess the ESG risk and opportunity of hotel assets internationally at the point of acquisition.
Considerate Group also expanded its global reach in 2021, opening an office in New York to complement our offices in London and Munich, serving clients with international hotel portfolios across the breadth of continental Europe, the UK, the Middle East, the Caribbean and North America. Having only just established our US corporate entity, we are already in a position to celebrate our first US-based client.
As our roster of long-term client relationships expands, we are rapidly increasing the size of our team to ensure we have the strength and depth to meet our clients’ requirements.
We look forward to working with a diverse range of hospitality clients to help them embrace the opportunity that ESG presents.
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