Sustainable Hotel Finance: Green Leadership and Governance Integration
DOI:
https://doi.org/10.18196/jbti.v16i1.26023Keywords:
Hospitality Industry, Indonesia, Green Leadership , Financial Management, GovernanceAbstract
Environmental and sustainability issues are increasingly pressing in today's global business context. The rapidly growing hospitality industry in Indonesia faces major challenges in integrating green leadership principles into their financial management to achieve sustainable business. This research seeks to empirically examine and demonstrate the incorporation of green leadership principles that positively influence the financial management of hospitality enterprises in Indonesia. It provides an analysis of the research subject, namely key players in the hospitality sector, highlighting the actual challenges they face in meeting sustainable business demands. A quantitative approach was employed, with data collected through surveys and interviews with essential stakeholders in the hospitality industry. The findings reveal that implementing green leadership principles affects the financial management of sustainable businesses within Indonesia's hospitality sector. However, robust governance is crucial in reinforcing the connection between green leadership principles and sustainable financial management. Therefore, effective governance should be a primary focus in efforts to integrate green leadership principles into the hospitality business. This study provides valuable insights into how the hospitality industry in Indonesia can achieve sustainable business by adopting green leadership principles, with the important role of governance in this process. The practical implication of these findings is that hospitality companies must actively develop green leadership and ensure effective governance to achieve sustainable business success in the face of increasingly pressing environmental challenges.
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