Corporate Social Responsibility and Sustainability Initiatives of Multinational Hotel Corporations

Abstract

Multinational hotel corporations participating actively in international business developments have become aware of the significance of disclosures on Corporate Social Responsibilities (CSR) and Sustainability issues. Such development is driven by the external stakeholders and endorsed by the internal ones. Financial regulators around the world have appeared to embrace the international trend of disclosures about CSR and Sustainability by publicly listed corporations. Through case studies of major multinational hotel corporations operating in Asia and the West, this study examines the emerging emphases of disclosures on CSR and Sustainability matters as a global trend—including public relation management (PRMs), enterprise risk management (ERMs), and integrated innovation management (IIMs). The results showed different aspects of CSR and sustainability practices among multinational hotel corporations worldwide. Western hotel corporations indicate an emphasis on IIMs with global measurement and standard such as GRI standard and ISO14001 certification. In the meantime, Asian hotel corporations have diverse CSR and sustainability initiatives in terms of PRMs (e.g., staff development, staff remuneration and welfare, and good stewards of the environment) and ERMs (e.g., operational risks management, use of solar energy, and new energy conservation) approaches, but low implementation on IIMs. Various aspects of CSR and sustainability initiatives can be reinforced to enhance multinational hotel corporations’ sustainability.