AAHOA IS WORKING with the Energy & Environment Alliance to establish unified sustainability standards, benchmarks and performance metrics for the hotels and lodging sector. The association will help the industry align with global standards, including those set by the International Accounting Standards Board, International Financial Reporting Standards and the International Sustainability Standards Board.
The collaboration aims to give hoteliers worldwide a direct voice in creating practical and rigorous sustainability standards, AAHOA and EEA said in a joint statement.
"AAHOA members have always led in shaping the future of the hospitality industry, and this partnership with the EEA underscores our commitment to advancing sustainable practices," said Miraj Patel, AAHOA chairman. "By ensuring hotel owners have a voice in establishing practical and globally recognized sustainability standards, we are positioning our industry to thrive while addressing the challenges of a rapidly changing world. This is a critical step toward a more resilient and environmentally responsible hospitality sector."
AAHOA's 20,000 members own 60 percent of U.S. hotels, while the EEA's members represent around 45,000 hospitality assets globally, the statement said.
Three-phase approach
The duo will develop a three-phase consultation process to help the hotel industry align with international standards:
- Pre-consultation (January to June): Focus on global outreach, raising awareness, and gathering feedback through meetings, roundtables, and discussions, while identifying key issues and defining the consultation's scope.
- Consultation (June to September): A 90-day program where stakeholders provide feedback via an online platform, supported by promotion through trade media, social channels, and global conferences.
- Post-consultation (December): Analysis of submissions, conclusion development, and presentation of outcomes to industry leaders and regulators.
Ufi Ibrahim, CEO of the EEA, stressed the urgency and importance of the initiative given global changes.
"Sustainability risks and opportunities now directly impact liquidity, asset values, the cost of capital, and investment decisions," he said. "In many jurisdictions, sustainable practices are becoming legal mandates. Yet, the lack of harmonized standards and reliable benchmarks is problematic. By leading the development of robust and widely supported standards, the hospitality industry can avoid potentially counterproductive regulatory impositions. It is encouraging to see alignment between regulators and industry leaders on this proactive approach."
Laura Lee Blake, AAHOA president and CEO, said the partnership with EEA marks a transformative step for the hospitality industry.
"By championing the creation of transparent and actionable sustainability standards, we are equipping hotel owners to meet evolving global demands while strengthening their competitive edge," Blake said. "This initiative is not only a pledge to environmental responsibility but also a strategic effort to enhance asset value and build investor trust in our industry's future."
AAHOA's Political Action Committee raised $1 million in 2024, bringing the total to $1.5 million for the 2023-2024 PAC period, reflecting members' efforts to amplify hotel owners' voices at all government levels.
