Simon Property: Creating the experiential destinations of the future

Global Business Leaders Mag

The travel industry seized to exist in the harsh circumstances of the pandemic, the only way out was to wait for the situation to unstiffen. Due to the vaccination drive taking place around the globe, people are returning to normalcy, and so is the hospitality industry. Being on hiatus for a long time people are looking for experiential travel rather than mundane trips. The adventure tourists are seeking something unique and memorable and not another holiday at a beach. As experiential travel is the answer and Simon is popular for creating the experiential destinations of the future.

Simon Property is a global leader in the ownership of premier shopping, dining, entertainment, and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG).it has properties across North America, Europe, and Asia providing community gathering places for millions of people every day and generate billions in annual sales. One of the strongest pillars behind its success is an experienced management team that has delivered strong performance through all economic cycles, and an infrastructure that enables consistent execution at high levels across all aspects of the business.

 “By always focusing on doing our best and determining what can drive future success, we’ve built a great track record of performance & unmatched expertise in our industry,” says David Simon, Chairman, CEO & President of Simon Property.

The foothold of Simon Property Group has expanded in International borders and has properties in Japan, Korea, Canada, Italy, Malaysia, Mexico, Netherlands, Austria, France, Germany, Spain, Thailand, and United Kingdom.

5 Pillars Supporting Success

Simon Property has earned its reputation as a global leader. Whether it’s the scale of the properties, from high-end to value and domestic to international, its top-rated balance sheet in the industry or the best-in-class team committed to a long-term ownership outlook, together the team is focused on performance. The firm’s portfolio is unrivaled and Simon is the only developer who has the financial flexibility to continually transform the properties to enhance their market position and give customers what they want, when they want it, and how they want it. The core values of the firm act as the pillars supporting the continued growth and success of the company.
A commitment to excellence: The company seeks out advance and reward employees who embrace the commitment to quality and the highest standards of excellence in all that they do, both individually and as a company. Simon is committed to delivering superior results for its customers, communities, and shareholders.
Entrepreneurial spirit: The team embraces creativity, flexibility, innovation, and a sense of ownership that the founders have instilled in the corporate culture, inspiring them to approach each day with passion and enthusiasm.
Responsible citizenship: Simon’s shopping centers are more than places to shop. It strives to make them a source of pride in the community. The staff is committed to being a responsible and contributing corporate citizen in every community in which it operates. The firm is environmentally conscious and dedicated to maintaining lasting, mutually beneficial relationships in all aspects of the business.
Integrity: Simon Group conducts business with the highest standard of ethics, and works with honesty and integrity, not compromising the truth.
Passion: The team is passionate about Simon Property Group – the history, the company’s successes, and the future. They showcase the pride, enthusiasm, and dedication to the company in everything they do.
Simon Group has grown to be the largest retail REIT in the world by equity market capitalization. It is the only real estate company in the S&P 100 index, comprised of mega-cap blue-chip U.S. companies across all industries. Furthermore, having a global footprint the team cares about corporate social responsibility and embraces sustainability.

Mitigating carbon emissions

Simon Property is dedicated to continually innovate its extensive portfolio of environmental and social sustainability programs. These programs not only contribute to improving the company’s financial performance but also enhance the positive impact on the communities where the centers are located. David adds, “We are focused on embracing important challenges which require our commitment to be a vital force for good in the communities where we live, work, play, stay, and shop.” He also highlighted a study conducted by Simon and Deloitte Consulting which demonstrates that physical shopping to be up to 60% more environmentally sustainable than digital shopping. Consequences of digital shopping that have a negative impact on the environment are increased returns, expedited shipping, and the additional packaging of e-commerce. Furthermore, returning goods purchased online to store instead of the distribution center reduces carbon emissions by an average of 40% according to recent studies.

Simon Groups Sustainability Program, Creating Sustainable Communities, is more vibrant than ever before. Its retail properties are viewed as intrinsic and essential parts of the community. The centers are termed as local hubs for economic growth, creating over 300,000 jobs, and generating billions in property and sales tax revenues. “We continue to expand existing, and implement new, community services at our properties including Simon Youth Foundation Academies, food donation and blood drive events, and COVID-19 essential services,” asserts David.

Despite the harsh circumstance of the pandemic, the team at Simon has accomplished significant milestones and is working together in identifying, sharing, and implementing scalable ideas to reduce its carbon footprint. Simon Group is already set on its path to craft the “Roadmap to 2035” which identifies how the team will achieve the new science-based targets and that will detail all aspects of the business that will include a sustainability focus. This will be achieved through investment, operational excellence, and tenant partnership.

Re-Opening to Normalcy

Simon Group continues to prioritize the health, safety, and well-being of the employees, shoppers, retailers, and the communities it serves. With the advent of the outbreak, the company quickly assembled a COVID-19 Response Taskforce, which was composed of Simon department representatives and subject matter experts. The Taskforce rolled out Simon’s COVID-19 Exposure Mitigation Protocols (Protocols), designed to mitigate the risk to employees and shoppers of being exposed to COVID-19 through identification, evaluation, and control of pathogen transmission factors at the properties.

While the world is returning to normalcy, Simon also re-opened the properties by adhering to the safety protocols and undertook additional measures to keep the visitors and tenants safe. It received the WELL Health-Safety Rating at over 200 Simon Centers making it the best-in-class for cleaning and sanitization, quality air and water, emergency preparedness, and more. This accreditation also demonstrated its commitment to the health and well-being of the tenants and visitors. As the centers re-open Simon Property has lined up several events for the adventure seekers. One of the recent events being the Museum of Ice Cream that transforms the concepts and dreams into spaces that provoke imagination and creativity. It is designed to be a culturally inclusive environment and community, inspiring human connection through the power of ice cream.

Quote: “By achieving the WELL Health-Safety Rating at all of our centers, Simon has demonstrated our commitment to the health and well-being of our tenants and visitors.”

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