The purpose of this thesis is to investigate the relevance of sustainability in the expanding luxury hotel industry in Copenhagen. According to this thesis, sustainability is meeting the needs of current and future stakeholders, managing risks and embracing opportunities to create long-term business value. This thesis regards sustainability as a business' response to global challenges. Sustainability is a promising concept for business to achieve long-term value while maintaining their responsibility towards society.The subject was approached through a case study consisting of secondary data and 14 interviews with managers, CEOs, and stakeholders in the industry. Firstly, it was investigated how the external environment impacts sustainability in the industry. Secondly, to what extent sustainability can act as a source of mutual interest for multiple stakeholders. Thirdly, how sustainability is implemented, the benefits and challenges the industry is faced with doing so.In the analyses,it was found that there are several external factors that create opportunities for value creation based on sustainability. It has the potential to be a source of mutual interest for multiple stakeholders, and it contributes to benefits within cost-reductions, optimized processes, quality products, image and employee engagement. However, there are challenges of implementing sustainability, which the industry can turn into opportunities through stakeholder collaboration, innovation, and technology. Therefore,this thesis concludes that sustainability in the luxury hotel industry is by no doubt relevant because it supports a profitable business, while simultaneously creating value for society. It enables businesses to successfully manage their role anno 2017 and the challenges combined with it.
|Educations||MSocSc in Service Management, (Graduate Programme) Final Thesis|
|Number of pages||291|