How to speed up hospitality recovery with easy energy efficiency measures
Hospitality has an immense challenge ahead to recover one year worth of sales, and studies show there is a long road ahead – PWC predicts it could be four years before we see a return to pre-COVID-19 levels.
But the secret to increase profit margins lies not only in increasing sales, but just as much in better control of operating costs. And saving energy remains one of the simplest ways to do that!
Reducing energy use makes perfect business sense: not only does it save the business money, but it also helps everyone in the fight against climate change. And with energy consumption usually representing around 6% of a hotel’s costs, but around 60% of emissions, there is surely a lot of room for improvement.
Money saved on energy goes straight to the bottom line, so the sooner you start implementing simple energy efficiency measures, the quicker your businesses will address the gap the pandemic carved in your businesses.
Not sure where to start? Here are some ideas of things you could start to focus on now:
- Preventive Maintenance: hospitality businesses are energy-intensive environments, and maintenance is often reactive. Make the most of the time you have now, while occupation is still not full, to carry out some improvements, looking into more energy efficient solutions and equipment, and smart energy management systems.
- Staff engagement: Everyone in your business will be using energy to do their work and can make an impact. A concentrated effort and setting common targets with your team could be a great way to boost the sense of cohesion. So open up your energy costs with them, invite the team to share ideas, agree an objective and define some incentives for when you get there together!
- Energy contracts: Some energy suppliers have been putting a premium on contracts with the hospitality trade at the moment, or – even worse – rejecting a new contract altogether! Out of contract rates are not sustainable, even in normal trading conditions, so if you are having difficulty getting a new contract for your gas or electric supply, look for specialist support. There are specialist companies who are in contact with major suppliers and can help find a better deal for you, while you focus on getting your business up and running again.
With many of us making plans for an exciting staycation, this can be a busy, profitable – and energy efficient – summer for the Hospitality Industry.
John Wilkinson is a Director at MYCOS, helping businesses pursue their policy of 100% renewable energy and find cost savings for gas and electric.
Learn more about Mycos by visiting their website > www.mycos.co.uk