Sustainability is no longer just a buzzword—it’s becoming a key expectation in business, and the serviced apartment sector is well-positioned to embrace this shift. As businesses increasingly prioritise environmental responsibility, they’re looking to partner with accommodation providers that align with their values. The latest Global Serviced Apartment Industry Report 2024 makes it clear: clients are actively seeking proof of sustainability efforts when selecting providers.
Sustainability as a Standard Requirement
The report highlights a significant evolution in how sustainability factors into the procurement process. More companies now expect serviced apartment providers to showcase their green credentials in every request for proposals (RFPs), with 53% of businesses requiring sustainability evidence in all RFPs, up from 36% in 2023. This reflects a growing opportunity for providers to stand out by demonstrating their commitment to sustainability.
For agents booking on behalf of corporate clients, the trend is similar—45% report that their clients actively seek sustainability evidence in all RFPs. The takeaway? Providers who highlight their sustainability efforts can attract eco-conscious clients and strengthen their appeal in a competitive marketplace.
Accountability for Carbon Emissions
Another area where expectations are evolving is emissions tracking. Businesses are increasingly focused on measuring and reducing their carbon footprint, and they value accommodation partners that can provide transparent emissions data. As corporate buyers assess the environmental impact of their supply chains, serviced apartment providers have a chance to lead the way by implementing clear sustainability reporting.
Opportunities for Industry Growth
While sustainability reporting varies across the sector, there is great potential for more providers to step forward and showcase their efforts. The report found that 4.69% of providers are measuring their Scope 3 emissions in 2024, and while Scope 2 emissions reporting has fluctuated, the industry is making gradual progress. Encouragingly, the number of serviced apartment providers beginning to track emissions is growing, highlighting an increasing awareness of the importance of sustainability.
Serviced apartment providers have an excellent opportunity to align with the sustainability priorities of corporate buyers and travel agents. By adopting greener practices now, they can stay ahead in an increasingly eco-conscious marketplace, attract forward-thinking clients, and enhance their long-term success. Taking proactive steps toward sustainability not only benefits the environment but also strengthens their competitive edge and reputation in the industry.
What This Means for Serviced Apartment Providers
The shift towards sustainability presents a valuable opportunity. With more businesses prioritising green initiatives, serviced apartment providers who embrace this movement can enhance their competitiveness and appeal.
To meet evolving expectations, providers can:
• Implement systems to track and report emissions.
• Prioritise measuring their environmental impact across all areas of operation.
• Align business strategies with sustainability goals to stay ahead in an eco-conscious market.
• Seek sustainability certifications to provide third-party validation of their efforts.
Choosing the Right Solution
Greengage offers ECOsmart, a trusted sustainability certification for accommodation providers. This not only helps assess and improve environmental practices but also gives well-deserved recognition. With ECOsmart certification, your property is featured on our ECOmap, a go-to resource for bookers seeking sustainable venues across the UK, boosting visibility and appeal.
Greengage also offers a range of solutions in our CO2 Toolkit. Through their partnership with Smart Carbon, they support providers in measuring and offsetting their carbon footprint, helping them take meaningful steps toward sustainability.
Time to Take Action
The serviced apartment sector is at a transformative moment. Sustainability is becoming an integral part of business success, and those who embrace this shift will not only contribute to environmental progress but also strengthen their position in the market.
If you’re ready to integrate sustainability into your operations, Greengage are here to help. Get in touch to discuss how you can future proof your business: mark.bevan@greengage.solutions
