Risks and Rewards for Building Sustainable Hotels
Before the economic recession began dominating media coverage in late 2008, consumers and businesses were keenly focused on promoting environmental sustainability in consumer products, energy, automobiles, buildings and the hospitality sector.
The government responded with targeted financial incentives to promote these initiatives. Since existing buildings contribute almost 80% of the carbon emissions in some cities through their energy use, a major focus of these efforts has been on sustainable construction. While the recession may dampen economic growth, it has not reduced the number of federal, states and local incentives for developers willing to build sustainably.
Together, financial incentives and consumer demand are likely to encourage the hospitality industry to continue developing more environmentally friendly hotels, resorts, spas and convention centers.