Corporate nonfinancial disclosures: An illuminating look at the corporate social responsibility and sustainability reporting practices of hospitality and tourism firms

Abstract

This paper examined nonfinancial disclosures by hospitality and tourism firms on corporate social responsibility (CSR)/sustainability dimensions. Specifically, the study utilized content analysis to assess and document CSR and sustainability reporting practices by firms in this economic sector. The study found that in general, firms utilized the Global Reporting Initiative as the standard guideline for reporting. Findings also suggested that there is a vast difference in the types of information reported by firms in the industry’s various sectors. Lodging firms disclosed the most information on the CSR/sustainability dimensions than firms operating in the food and beverage and cruise line sectors. These findings suggested that CSR/sustainability reporting in the hospitality and tourism industry is in its infancy. Overall, the most frequently disclosed information related to performance on indicators associated with water usage, energy conservation, and waste generation. Community involvement activities were also frequently disclosed by sampled firms. The least reported dimensions were information germane to compensation and work–life balance.