More and more hotel properties today are instituting environmentally friendly programs designed to save water and energy and reduce solid waste.
The “Green” Hotels Association, a trade association that is bringing together hotels interested in environmental issues, defines “green” hotels as “environmentally-friendly properties whose managers are eager to institute programs that save water and energy and reduce solid waste, while also saving money.”
According to the association, business travelers are much more cognizant of staying in green hotels than are tourists. As a result, business hotels may reap the most benefits, both financially and from a publicity standpoint, from going green.
Green = Bottom Line Benefits
Being green goes directly to a hotel property’s bottom line, notes the association, in the following ways:
It saves money.Depending on the property’s size, energy and water conservation measures can save hundreds of thousands of dollars a year. The most popular energy-saving measures include energy management systems, fluorescent bulbs, ceiling fans, linen and “lights-out” cards, and motion sensors.
Popular water-saving measures include low-flow showerheads and toilets, waterless urinals, toilet tank fill diverters 1.5 g.p.m. aerators, 1.6 g.p.m. dishwashing valves, and linen cards. Recycling and smart product packaging can save big money, too.
It increases the long-term value of a property.Green properties may demand a higher price at resale due to lower utility bills per square foot, as well as the fact that they are generally healthier and may also reflect greater owner care.
It builds guest loyalty.With environmental consciousness on the rise, more guests are demanding that the hotels they frequent be eco-friendly. Today, being a green hotel can give a property a competitive edge. Tomorrow, it might be a requirement just to stay in business.
It boosts staff retention.Most hotel staff sees and appreciates the efforts owners are making to be eco-friendly. These efforts may also help keep staff healthier, which can reduce absenteeism and the frequency of employee sick days.
While there are benefits, hotels also incur some costs in order to go green: the installation of low-flow showerheads and toilets, waterless urinals, toilet tank fill diverters, motion sensors and ceiling fans and the conversion to fluorescent bulbs, for example. Each hotel must weigh the cost vs. benefit of going green in order to make the right decision for the property.
A Leading Green Hotel Property
Home2 Suites by Hilton is a U.S. hotel property that’s leading the way in green hotels. There are three Home2 Suites properties in the Apple REIT portfolio: Fayetteville, N.C.; Jacksonville, N.C.; and the Charleston, S.C. Airport. The areas of the properties where eco-friendly programs are practiced include:
• Pools— Saline-based pools are maintained using natural minerals instead of chemicals.
• Recycling— Convenient recycling collection stations are located in the Oasis and on each floor of the hotel at most locations, and recycling containers are placed in every suite.
• Appliances— All guest room appliances have Energy Star ratings and use significantly less energy and water than traditional appliances.
• Flooring— Hotel carpets are made from at least 60 percent recycled products and pass the Carpet and Rug Institute's rigorous Green Label certification.
• Lighting— CFL bulbs are used in all lighting fixtures.
• Bathrooms— Instead of using travel-sized bottles of bath amenities, which result in excessive waste, the hotels place tamper-proof bulk bath amenities in the bathrooms. And dual-flush toilets use 20 percent less water than traditional toilets.
• Landscaping— The landscaping around every Home2 Suite hotel includes indigenous-only plants, which significantly minimizes water usage and irrigation needs,
Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates,Inc
At David Lerner Associates we believe in the sensible middle ground of investing. We do not run with the herd. We pursue these fundamental investment principles regardless of market conditions. We offer many investment opportunities, some designed to provide income.
Founded in 1976, David Lerner Associates is a privately-held investment company with headquarters in Syosset, New York and branch offices in Westport, CT; Boca Raton, FL; Teaneck and Princeton, NJ; and White Plains, NY. For more information contact David Lerner Associates 1 877 367 5960
Connect With Us