How to catch the investor’s eye when going green in the Spanish hospitality industry

Abstract

The growing integration of environmental sustainability within the hospitality industry, driven by both ethical and financial motivations, underscores the need to understand the investment criteria valued by stakeholders. However, limited research exists on how investors specifically evaluate sustainable investments in this sector. Drawing on existing literature that highlights the positive financial and operational impacts of sustainability initiatives, this study investigates factors influencing sustainable investment decisions in the Spanish hospitality sector. Grounded in focus group interviews conducted with a representative sample of investors aligned with the current structure of investment practices in the Spanish hospitality industry, this study employs an adapted concept mapping methodology enhanced by consensus analysis using the global index of consensus indicator. This approach enables the quantitative measurement of consensus among investors, providing a structured view of the criteria shaping sustainable investment choices. Findings reveal that while financial motivations continue to dominate investment decisions, environmental considerations are becoming increasingly significant, particularly those aligning with consumer expectations and stakeholder engagement in sustainable practices. Results suggest that environmentally friendly initiatives must demonstrate clear economic benefits to attract investment; sustainability must be financially viable. By aligning environmental goals with profitability, sustainable investments can appeal to a broader range of investors, promoting responsible practices in the hospitality sector while ensuring long-term returns.