Articles & publications

Articles & publications - 2024-06-27

New USALI 12th Revised Edition Update – ESG related changes

Following the last edition published in 2014, the new 12th Revised Edition of the Uniform System of Accounts for the Lodging Industry (USALI) has its debut this year (the e-book version will be available in July) and will be placed in effect on January 1, 2026. Besides other adaptations, new elements i.e. schedules have been introduced which further increase transparency and alignment with contemporary practices. These include reporting guidelines concerning the executive/club lounge; payroll FTE; all inclusive; brand and operator costs; guest loyalty program; and energy, water & waste (EWW). In the first of our USALI update series, we summarise the new EWW Schedule 9 which relates to the E in ESG.

Articles & publications - 2024-03-27

Sustainability Solutions at PKF hospitality

Consulting for the triple bottom line

Since 1927, when the first edition of the Uniform System of Accounts for the Lodging Industry was published to assist hotel investors in their financial decision making, PKF has been helping clients get to grips with the trends, innovations and the challenges of owning and operating hospitality real estate. In 2024, to be successful, investors must look beyond purely financial considerations (revenues, expenses, profit), and focus also on the sustainability of their project or property, and the risk. Sustainability materially impacts the success of our industry.

Articles & publications - 2024-01-29

What are the main challenges facing the hospitality industry in 2024?

We hope you have had a great start into the New Year 2024!

What will 2024 bring to the hospitality industry? Is an encouraging outlook after years of challenges possible for hospitality industry? Is a hospitality investment boom on the horizon?

In this article our experts share their professional opinions, you will find forecasts, expectations, hospitality market overview and key trends for 2024.

Articles & publications - 2023-10-31

What the new sustainability standards IFRS S1 and IFRS S2 mean for companies

The International Sustainability Standards Board (ISSB) issued its inaugural standards — IFRS S1 and IFRS S2 — on 26 June. What should you do to prepare and how do they interact with other frameworks?

The launch marks the start of an exciting new era for sustainability-related financial disclosures. The standards will help to improve trust and confidence in company disclosures. This in turn should support capital market allocations towards more resilient economic models for companies.

Articles & publications - 2023-09-28

The world of wellness and wellbeing in the hospitality industry

Wellness & Wellbeing: today vs tomorrow

In an ever-evolving hospitality landscape, staying updated with new trends is paramount. In the forthcoming article, we explore the concepts of wellness & wellbeing and discuss its implication for the hospitality industry. As you delve into the article, you'll uncover the influence of wellness in shaping guest expectations, diversified offering, and fostering guest loyalty. Will wellness offerings remain a premium commodity primarily accessible to high-paying clientele, or is the future set to make wellness a standard service in most hospitality establishments? Find out below.

Articles & publications - 2023-05-31

Showcasing hospitality properties and their pioneering eco-friendly practices

Climate change, freshwater depletion, unsustainable use of resources, and biodiversity collapse are some of the most pressing challenges faced by humanity today. As the world’s population increases, so does the pressure on the world’s natural resources and on local communities. While hospitality might on the surface be less damaging than other industries where pollution is more visible (manufacturing, transport, agriculture, etc.), the hospitality service sector and its supply chain are directly affecting and being affected by sustainability matters.