The goal of the study is to undertake a descriptive analysis of the sustainable strategy accessible to hotels and assess its ability to produce competitive advantage through promoting efficiency, luring clients, and generating revenue. By contrasting the strategic aim and execution of sustainability programs in hotels across Delhi NCR, the authors investigate how their implementation affects other industry actors. This chapter critically examines this concept in the context of the hospitality business. The study described here offers a new and creative way to look at how its performance or outcomes may be enhanced in the hotel industry, giving it a durable competitive edge. Long-term hotel operations may benefit from the outcomes of sustainable competitive advantage. The chapter examines the role of sustainable competitive advantage in the hotel industry and offers recommendations. It offers new insights into the shortcomings of the highly competitive hotel sector. With the global competition getting fiercer, the hotel industry has to actively manage its internal operations, focusing on cost reduction and raising service standards. The study helps make sustainable methods that are adapted to the competitive environment more widely known.
Top1. Introduction
A competitive advantage may be gained by implementing environmental sustainability, according to recent studies (Baird et al., 2012; Falkenberg and Brunsael, 2011; Gerstberger et al., 2014). Environmental sustainability, according to Rahman et al. (2012), is the practice of operating business in a way that minimizes waste, conserves energy, and enhances environmental health in order to avert environmental damage. As is well known, maintaining social responsibility is subordinated to making profits for owners and shareholders when it comes to differentiating brands via marketing (Kärnä et al., 2003). Conversely, environmental sustainability marketing has been considered a strategic instrument for positioning companies in the market, setting themselves apart from competitors, and fostering confidence among environmental stakeholders such as eco-aware hotel visitors (Kasim, 2006; Graci and Dodds, 2009; (2014) Rettie et al.Effective environmental sustainability marketing, as stated by Polonsky (2011, p. 1311), “must integrate transformative change that creates value for individuals and society, as well as for the natural environment,” whereas Van Dam and Apeldoorn (1996, p. 46), proposed that it necessitates “combining profit making for private organizations with sustainable environmental quality for society in general.”
Businesses are likely to adopt environmental sustainability measures due of growing public pressure, claim Cronin et al. (2011) and Amran et al. (2015). Additionally, these companies assert that adhering to the triple bottom line can boost customer demand. RoperASW (2002) identified 15–46% of customers as potential target market who might be persuaded to adopt sustainable purchase decisions. Although the market for environmentally friendly goods and services has been extensively studied, the actual demand has been substantially lower than predicted. Regulations or standards like ISO 14001 or Eco labels (Ottman, 2003) have been brought into the marketplace in reaction to this type of behavior. Eco labels are meant to help consumers make educated decisions that lessen their impact on the environment and have an impact on how products are created (Rex and Baumann, 2007). Eco-labelling has received a lot of attention, but studies have shown that organizations that meet all eco-labelling requirements do not always influence consumers' decisions to buy sustainably (Thgersen, 2000; Leire and Thidell, 2005; Rex and Baumann, 2007; Grolleau et al., 2016). The efficiency of ISO 14001 in minimizing environmental effects is still debatable (Arimura et al., 2016) The difficulties with demand for sustainable products have led some to wonder if this market really exists. According to earlier studies, just 10% of customers genuinely care about sustainability (Ogilvy and Mather, 1992, in Peattie, 1992). It is assumed by both traditional marketing and environmental sustainability marketing that a subset of consumers is interested in environmental sustainability and that products should be designed with them in mind. The tourism industry has seen a marked rise in “eco”-style adventures and “environmental sustainability hotels”; however, these concepts do not fit into the conventional market mix or the environmental sustainability marketing segment because travellers often seek experiences rather than goods or services. Green is said to be a variable characteristic of a consumer.
In today's corporate climate, sustainability is widely recognized as the cornerstone of competitive advantage. The growth of this tendency is anticipated. In the majority of economic sectors, particularly in the hospitality industry, the word “sustainability” has received a lot of attention. This essay will concentrate specifically on Delhi's five-star hotels, which struggle with a lack of available space and aren't frequently thought of while implementing green practices, in order to highlight the comprehensive sustainable notion. Since sustainable development considers structured long-term savings techniques in resource management, the majority of hotels in cities that desire to implement a sustainable strategy often have to start from the very beginning.