PKF Capital Says "Green" Hotels Can Boost Value and Attract More Customers


September 23, 2008

H&MM Week In Review

Investing in renovations that make hotels more sustainable will increase their value, slash operating costs and attract customers who are trending toward more sustainable hospitality experiences, PKF Capital Managing Partner Henry Bose told a conference here on green hotels.

“For every dollar you can add to the bottom line of a San Francisco hotel, more than $11 is added in value,” says Bose.Bose said that so far there are too few hotels that have earned the U.S. Green Building Council’s LEED certification to compare their financial performance against traditional hotels. But he indicated that his firm, in conjunction with PKF Consulting and Research, is planning to produce a study on the issue.

He noted that the USGBC has recorded dramatic savings in large green commercial buildings the size of hotels—30% energy savings, 35% less carbon output, 50% less water and as much as 90% less waste. USGBC also reported a decrease in operating costs of as much as 9% for sustainable commercial buildings and an increase of 7.5% in value and a 6.6% higher return on investment.
“It is important to note that hotels are extremely resource intensive, open 24 hours, 7 days a week, whereas commercial buildings are used primarily only during business hours. That means the financial benefits of operating a green hotel are likely to be much higher than what USGBC says about the commercial office sector,” says Bose. “Hotels that are less costly to operate are simply more valuable to owners.”



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