Internal Drivers and Financial Outcomes of Global Hospitality Chains' Green Strategies: An Application of the Natural Resource–Based View

ABSTRACT Despite growing concerns for protecting the natural environment, research on how eco‐friendly practices of firms in the hospitality industry impact their performance is relatively limited. Using the natural resource–based view of the firm as a theoretical platform, we propose a conceptual model focusing on the internal drivers and performance outcomes of environmental strategies, which was tested with secondary data collected from 116 global hospitality chains. The results indicate a strong association between the hospitality chain's green human resource management, strategic proactivity, and environmental targeting with each of the four environmental strategies examined, namely, product/service eco‐friendliness, resource efficiency, waste/emissions management, and green procurement. However, although the first two strategies were found to positively affect the firm's operating ROA, the last two strategies had a negative effect on it.