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The real estate and construction sector accounts for 36 percent of total global energy consumption and 40 percent of global carbon dioxide emissions. So there are great efforts to be made here, and the leading hotel real estate company Pandox wants to take the lead.
During the last quarter of 2019, Pandox implemented a green investment program covering eight million euros. These investments are intended to convert twelve of Pandox’s properties in its own operation into green properties in a pilot project.
– We perform in-depth analysis of each property in our own operation and identify the conditions and challenges of the buildings to develop relevant goals. Since then, these analyzes have landed on an overarching goal that aims to reduce electricity consumption by 35 percent, gas consumption by 25 percent, and water consumption by 20 percent, all by 2023, says Caroline Tivéus, Pandox’s chief sustainability officer.
20 percent return
The pilot project is expected to generate a 20 percent return, clearly showing that investments in sustainability actually have positive effects from a financial point of view as well.
– Many still see sustainability as a cost, but our project clearly shows that green efforts contribute to business. This became particularly notable in relation to the onset of the corona pandemic. We had time to start work at the end of 2019 and install enough technology in some hotels to be able to see direct effects on the cost side, says Caroline Tivéus.
The solution is found in so-called building management systems, BMS, which stands for intelligent central systems and sub-meters that collect data on property operations. In real time, it is shown in which part of the property the consumption is higher and why. The system allows Pandox to make direct adjustments to actual needs, such as closing floors where no guests live or detecting water leaks that otherwise cost large sums and cause extensive damage.
– This provides the opportunity to also work proactively, forecast what consumption will be like in the future and set goals, says Caroline Tivéus.
These green efforts can be linked to several of the UN’s global sustainability goals. Above all, Goal 13, which tries to combat climate change, but also Goal 6.4, which aims to make the use of water more efficient and safe.
The goal: all 156 properties must be environmentally certified
The idea is to eventually learn lessons from the pilot project and implement the positive effects on more properties in the Pandox portfolio, including properties where Pandox does not manage the operations itself. The objective is to reach ecological agreements with hotel operators where both parties share the savings.
Pandox’s long-term goal is to environmentally certify all 156 properties according to BREEAM. At this moment, the company is in full swing to certify the hotels that are part of the green investment program.
– The key to a successful sustainability work is to be data-driven, understand the business, be able to prioritize and package communication so that different stakeholders understand its commercial value. In this way, it will be easier to get an audience on sustainability in the management team and the board, which translates into a greater focus for these issues in the organization, says Caroline Tivéus and continues:
– In the long term, I believe that green properties will become a hygiene requirement and the trend is for more people to work with sustainability in an integrated way in the business. It feels incredibly exciting to be a part of the development going forward.
Pandox data
Pandox AB is a leading hotel property company that owns and rents hotel properties to leading hotel operators. In total, Pandox owns 156 hotels with a total of 35,000 rooms in 15 countries. The goal of sustainability work is to create resource-efficient properties that reduce Pandox’s climate footprint as the business grows.
Want to read more about Pandox’s sustainability work? Push here
