Researchers have long debated whether LEED certification provides a business advantage for hotels and motels, particularly in the U.S. Various studies have been conducted through the years that suggest that eco-certification programs do make a difference, particularly when it comes to customer patronage. Will customers seek out eco-certified accommodations, and can that loyalty be translated into higher revenue for the hotel or motel?
Last year we reported on Cornell University’s study of eco-certification of lodgings as a whole. The study, Hotel Sustainability: Financial Analysis Shines a Cautious Green Light, found that there were benefits to eco-certification, but they varied widely enough to be completely conclusive. The research also focused on results from a particular stream of data, specifically information obtained from Travelocity. In other words, it examined the outcome of eco-certified lodgings when promoted to a specific cost- and quality-conscious customer group.
This year’s report drills down a bit more, by focusing specifically on U.S. hotels that received LEED-certification. The three authors, Matthew C. Walsman, Rohit Verma and Suresh Muthulingam, looked at the revenue earned by LEED-certified hotels versus non-LEED hotels.
What they found was that “certified hotels obtained superior financial performance as compared to their non-certified competitors.”Click to continue reading »