Triple Bottom Line Principle Of Hotel
Introduction
This study is based on the quoted data from different corporations, especially hotel groups, in order to conduct a comprehensive analysis if the triple bottom line principle (TBL) is desirable or not. The purpose of this study is aimed to demonstrate how the TBL is defined as a sustainable measurement for the performance of hospitality industry by developing the 3P formulation, ‘people, planet and profits’.
Triple bottom line reporting is an approach to achieve sustainability as it integrates reporting on environmental, social and financial issues. (Assaf, Josiassen&Cvelbar, 2012).
Ekington, 1998, indicates that from the analyzed result of TBL, a hotel’s operation condition is highly related to its strategic plan and the needs of stakeholders, and can be reflected directly from its incremental revenue, social and environmental values.
Dwyer, 2005, put forward that the financial part of TBL is to measure a hotel’s profit and loss account.
While the environmental pillar is to test whether the allocation and utilization of all resources is eco-friendly and sustainably or not, according to the study of Sauvante, 2001.
Hassan, 2000, Willard, 2002 and Dwyer, 2005, point out that the social reporting is a result by evaluating a hotel’s balanced capacity between the internal relationship and social responsibility, however, measurements in this field hasn’t been developed so far.
In Such an era, that sustainable development claims the highest attention of the
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