Destination Capital partners UNWTO to rejuvenate hotel industry
The arrangement supports DC’s relationship with the International Finance Corporation (IFC) to promote investment in green and sustainable tourism accommodation and to stimulate re-employment, particularly in the wake of the COVID-19 pandemic.
The collaboration between UNWTO and DC is based on DC’s adoption of best practices aimed at reducing carbon emissions and operating hotels in a manner consistent with International Finance Corporation’s (IFC) environmental and social criteria.
Against this backdrop, DC acquires and repositions freehold hotels of 150-250 rooms in Thailand and across South-East Asia with the aim of implementing sustainable water and energy systems. It also works to promote gender equality at every level of the hospitality sector, another of UNWTO’s core priorities and in line with Sustainable Development Goal number five.
While governments and destinations around the world are working on vaccination programmes to accelerate the restart of tourism, UNWTO is working with the private sector to encourage employers to play their part in the recovery of local communities through job creation and training programmes. The agency shows that international tourism arrivals fell by one billion in 2020, with the crisis carrying over into 2021. This has placed as many as 120 million tourism jobs directly at risk globally. However, Asia and the Pacific Ocean have been mostly affected by all global regions, and young workers and women have the highest hit by the downturn in tourism employment.
In line with the 2030 Agenda for Sustainable Development, DC recognises that the hotel industry not only has a responsibility to re-hire and re-train hotel staff but is also increasingly under pressure to reduce its carbon footprint and mitigate the impact of energy and water consumption as well as food waste and environmental degradation. This is why DC is committed to retrofitting its hotels to be compliant with ‘green hotel’s as per the Excellence in Design for Greater Efficiencies (EDGE) standards established by IFC.
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