It is expected that sustainable hospitality in short-term rental housing will become a “lambron field of glory”. As has now been proven by relevant research, those properties that offer green features tend to provide higher occupancy and higher rates per night compared to others in the same area. According to an analysis by Transparent International, a strategic partner of the Short Term Rental Companies Association, it is clear that sustainable hospitality through the choice of suitable accommodation will be one of the key trends of the future. , with high demand and, accordingly, high incomes.

Although, however, the properties in question are few internationally (but also in Greece), and at the same time, the number of visitors who are informed about it in order to go to the relevant options is small, it seems that any properties have some sustainability certifications, they also show better performance.

According to Transparent data, it seems that green properties are already registering an increase in occupancy of at least 2% (47% versus 45%) and at the same time about six euros more per day in revenue. At first glance, the difference may seem small, but in the long run, even these numbers can significantly increase the efficiency of the facility.

Another major benefit for owners/managers is, of course, that such properties have much lower operating costs, an element that can maximize profits. For example, automating lighting and air conditioning reduces electricity consumption and, at the same time, emissions from a property, and also provides significant financial benefits on the bills that will be paid by the owner of the relevant property.

They record an increase in occupancy of at least 2% and at the same time about six euros more revenue per night.

5 main directions

In November 2021, Booking.com became the first digital platform to launch the Travel Sustainable Badge as a measure of the environmental performance of each property so that guests can distinguish each property and make their choice more easily. To receive this label, properties must include a range of sustainable practices in five key areas, namely waste management, greenhouse gas emissions, water management, community support, and conservation. Then, depending on whether the property is considered suitable, it is marked accordingly and can now be addressed to visitors for whom environmental protection is a priority.

Of course, such facilities are not always easy to secure for older facilities, especially in matters such as water supply and waste management. However, recently built facilities located e.g. in more remote areas, they are more likely to meet these specifications, especially as new building codes require significant interventions. Regulations for new buildings will become more stringent in the coming years, even requiring the use of photovoltaic panels to meet the energy needs of buildings.

Globally, it is estimated that 15% of real estate/accommodation listings promoted through the Booking platform have received the mark. Most of them are in Latin America, followed by the Middle East, Oceania, Asia and Europe, with North America in last place. In terms of individual countries, the most sustainable Booking properties are found in Australia, with Italy and Mexico tied for second place. Spain, Great Britain and France follow.

Certificates

Today, in addition to the digital short-term rental platforms themselves, there are several independent certification bodies. With sustainable hospitality as a trend here and there, choosing the right operator will become especially important. But as Transparent reports, the short-term rental industry should avoid the same mistake as the hotel sector, where the common standard – the certificate – did not prevail. On the contrary, there are about 200 different certificates, which creates confusion among travelers. In this context, according to Transparent, it is important to choose a reliable certification standard with specific rules so that the industry as a whole can start making the necessary adjustments and investments to capitalize on this growing trend in the market.