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Christie and Co Austria. Obviously, the technical<br />

due diligence checks these issues, but CO2<br />

neutrality or similar is not a major investment<br />

criterion, Waraschitz says. Only time will<br />

tell how much the mandatory taxonomy will<br />

change. The fact is that there is an enormous<br />

amount of money in the market. Furthermore,<br />

the large-scale bankruptcies initially expected<br />

by everyone have not occurred, partially owing<br />

to the aid provided by the government.<br />

What operators are pushing for, on the other<br />

hand, is digitization. It can contribute not only<br />

to economic sustainability but also to social<br />

sustainability, says Christian Pillwein, Beckhoff<br />

Automation. At the moment, for example,<br />

a receptionist is busy with many different<br />

systems: the parking ticket here, the room card<br />

there, and so on. If you digitize this in a sensible<br />

way, then you have more time for hospitality,<br />

for personal contact with guests - and that‘s<br />

what hospitality is all about.<br />

But what really makes a tourism property<br />

sustainable? „Any plus-energy hotel on the<br />

edge of a village is less sustainable than a refurbished<br />

apartment building in the city,“ plainly<br />

states Markus Steinböck, Head of Purchasing<br />

at 3SI. Vacation hotels are primarily located<br />

in the countryside, often in isolated locations<br />

and are usually not well connected in terms of<br />

transport and infrastructure. They have to satisfy<br />

the wishes of a wide variety of guests (for<br />

some it‘s too warm, for others too cold), and<br />

they operate energy-intensive amenities such<br />

as pools, saunas and spas. What‘s sustainable<br />

about that? Therefore,Harald Galla, a partner<br />

at the auditing and tax consulting firm Leitner-<br />

Leitner, believes that energy and its efficient<br />

use are probably the easiest commodity to<br />

calculate.<br />

Tourism is not sustainable<br />

„The very idea of tourism is not sustainable!“<br />

Boom! What Markus Steinböck says hits the<br />

nail on the head, explaining the essence of the<br />

problem and why ESG in tourism real estate<br />

is slow to catch on compared to other asset<br />

classes. There can be no exchange, no knowledge<br />

transfer, no cultural expansion without<br />

travel. And finally, it‘s about socializing itself:<br />

the fun, the recreation, the experience. What<br />

good does it do us if we consume less energy<br />

but are depressed? „Can we oblige tourism to<br />

be instructional?” wonders 3SI‘s Steinböck,<br />

“If processes are sensibly digitized,<br />

then there is more time for hospitality,<br />

for the personal touch.“<br />

Christian Pillwein,<br />

Beckhoff Automation<br />

<strong>MIPIM</strong> | <strong>2022</strong><br />

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