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Embracing the Economy for the Common Good means going beyond traditional environmental sustainability; it means renewing our frame of reference. It means embracing a new philosophy: money is not the goal, but a means towards a more “just” society.
We have therefore chosen to place human beings and society at the center, with the utmost respect for human dignity, solidarity, and fairness, abandoning power games and the exploitation of emotional, material, and intellectual resources. All this, without ever losing sight of the environment and its essence.
Olympic is committed to promoting local suppliers and regional production, focusing on quality and sustainability. It collaborates with 168 small businesses, each contributing marginally to total purchases, with an annual expenditure of around €223,573 in raw materials and services. The selection of suppliers is based on environmental awareness, high-quality local products, and ethical principles. Despite challenges related to variety and quantity—especially regarding fruit and vegetables due to the geographical location—Olympic strives to maintain high standards in procurement, respecting payment terms and encouraging ecological practices. Priority is given to organic products and those with the Ecolabel, with the aim of reducing environmental impact while continuously improving relationships with suppliers through transparency and shared decision-making. The goal is to strengthen the commitment to the common good by involving more suppliers in sustainable and ethical initiatives, improving monitoring procedures, and promoting a responsible corporate culture.
Olympic is managed with a family-oriented approach, preferring the system of Casse Rurali (local cooperative banks) for financial services, thanks to their territorial proximity and the trust-based relationship they provide. Profits are reinvested in the company, with a portion allocated to the fixed remuneration of shareholders. Financial management focuses on transparency and on exploring alternative financing methods, such as crowdfunding, to involve customers in ecological investments. Ownership is divided among members of the Pellegrin family, with decisions taken collectively, although the decision-making process can be lengthy. Recently, a new corporate structure has been discussed, including a family agreement regulating the entry of new family shareholders. Investments focus on socio-ecological well-being, with significant ecological initiatives and the purchase of apartments for seasonal employees. Despite reliance on at-risk resources, efforts are made to reduce environmental impact, with plans to improve energy efficiency. The company has been transformed into a Benefit Corporation, highlighting its commitment to the common good and the ethical management of funds.
For Olympic, the well-being of its employees is central: they are seen as the core of the company’s success, and their satisfaction is directly reflected in the guests’ experience. With 26 employees in 2020, the company is committed to training and to maintaining a positive work environment, ensuring flexible shifts and attention to individual needs to promote a balance between work and personal life. The corporate culture emphasizes the value of teamwork, transparency, and the sharing of responsibilities, while encouraging employees’ suggestions to improve work processes.
Olympic organizes specific training programs to ensure workplace safety and health, and it values diversity and equality, offering equal opportunities for growth. Compensation is merit-based, and the salary structure reflects market standards, with particular attention to service quality. Work organization aims to foster work-life balance, despite the seasonality and flexible schedules required by the nature of the work.
The company also promotes eco-sustainable practices among employees, such as waste separation and the use of ecological products, while acknowledging the challenges posed by behaviors that are not fully sustainable due to operational constraints. Sustainable mobility to the workplace is limited by location and the nature of the business, but Olympic is exploring ways to improve this aspect.
In terms of governance, Olympic promotes a transparent and family-oriented environment, where decisions are shared, and employees’ feedback is valued. Although there is no formal works council, managers are legitimized on the basis of competence and their ability to share the company’s values. Shared decision-making with employees is encouraged, with the aim of improving communication effectiveness and participation in company decisions.
Olympic SPA Hotel places its clients at the heart of its philosophy, emphasizing the offer of local products, the personalization of experiences, and the promotion of a relaxed and mindful lifestyle. The hotel is committed to conveying Ladin identity and culture, encouraging eco-sustainable choices among guests, such as the use of electric cars or public transport, and offering activities that highlight tranquility and connection with nature.
In terms of competition, Olympic views cooperation as a means to improve and enhance the overall tourism offering of the destination, sharing projects and initiatives such as “Sleep Wellness” through the Vitanova consortium. Its approach towards competitors is based on sharing and mutual learning, while maintaining the uniqueness of the hotel’s offer.
The environmental impact of the hotel’s products and services is carefully considered, with initiatives to reduce energy consumption, promote the use of ecological and organic products, and raise awareness among guests about sustainable practices. Olympic strives to be transparent in its practices and products, offering guests detailed information and the opportunity to actively participate in improving the ecological footprint of the hotel.
Guest participation is encouraged through surveys and direct feedback, allowing the hotel to continuously adapt and improve its offerings based on guests’ needs and suggestions. This commitment to listening and co-design strengthens the relationship between Olympic and its clients, fostering mindful and sustainable tourism.
Olympic Hotel, now a Benefit Corporation, integrates into its management a strong commitment to social responsibility, sustainability, and transparency, pursuing goals of common benefit and acting responsibly towards people, communities, and the environment. The hotel is dedicated to meeting fundamental human needs by offering regenerative experiences, promoting health and well-being, and contributing to the deseasonalization of tourism in order to enliven the area throughout the year.
The organization pays taxes regularly, contributes financially to local initiatives without sponsorships, and actively participates in the Val di Fassa Tourism Board, helping to shape the future of the region. Olympic is also committed to reducing environmental impact through practices such as the use of renewable energy, Ecolabel certification, and the installation of photovoltaic panels.
In terms of social engagement, the hotel maintains an open dialogue with the local area through industry institutions, representing an ethical business model and contributing to the innovation of the region. Although there is no formal documentation of community dialogue, the hotel aims to improve transparency and the sharing of its initiatives and strategies for the common good, recognizing the importance of joining forces to drive regional innovation.