WASHINGTON – New research on behalf of Champions 12.3 finds there is a compelling business case for hotels to reduce the amount of food they throw away. For every $1 hotels invested in programs to reduce kitchen food waste, on average they saved $7 in operating costs.
In a first-of-its kind analysis for the industry, The Business Case for Reducing Food Loss and Waste: Hotels evaluated financial cost and benefit data for 42 sites – including Sofitel, MGM and more – across 15 countries, finding that nearly every site realized a positive return on its investment to reduce food waste. Within just one year, the hotels had reduced food waste from their kitchens by 21 percent on average, and over 70 percent had recouped their investment. Within two years, 95 percent had recouped their investment.
The 7:1 return on investment comes from buying less food and thereby reducing purchase costs, increasing revenue from new menu items developed from leftovers or foods previously considered “scraps,” and lower waste management costs.
Read the full press release and full report here.
By Jillian Holzer and Amanda Williamson for Champions 12.3.