Identifying the final dollars in a capital stack is a common challenge for hotel developers. Instead of high-interest rate mezzanine loans, savvy hotel developers are using C-PACE financing (Commercial Property Assessed Clean Energy) as a means to capture financing benefits and be rewarded for building efficient buildings. A historic redevelopment along the Florida coastline recently financed 27 percent of its capital stack with C-PACE financing. A new downtown Las Vegas hotel completed its capital stack with $40 million in C-PACE financing, making it the largest Nevada C-PACE project in history. These hotel developments not only secured the low-cost, non-recourse, fixed-rate,...

NATIONAL REPORT—Embracing sustainability is imperative to hotels as the world adapts to the low-carbon economy. About 90 percent of travelers look for sustainable accommodations, investors want to know a business’s long-term viability, and local and federal governments increasingly require environmental reporting and credible paths to decarbonization. Hotels must respond to this pressure by measuring and reducing their carbon emissions. Environmental sustainability translates to better business performance. Hotels that signed the UNESCO Sustainable Travel Pledge saw a nearly 25 percent increase in week-over-week bookings in 2022, compared to a 15 percent increase for non-pledged hotels. Hotels produce about 1 percent of global carbon emissions annually—the equivalent of nearly 46 million...

Travel, tourism and hospitality (TTH) industry firms are accountable and must take the changes taking place seriously, from Greta Thunberg’s movement to new priorities in the World Economic Forum´s agenda or the ever-growing list of world moguls taking on a leading role in the fight against climate change. For that reason, we have identified 10 sustainable tourism trends that will influence business strategies right now and the best practices that can be implemented. Each trend is an opportunity for TTH firms to provide services that align with consumer values, the Sustainability Development Goals agreed by the Member States of the United Nations as part of the...

HVAC systems have changed dramatically since their inception. The first furnaces were built in the 1700s and the room-sized cooling units of the early 1900s pale in comparison to the residential and commercial units used today. And now, HVAC technologies are poised to make another sizable leap by integrating artificial intelligence. AI will be integral to optimizing future heating and cooling systems by creating comfortable and sustainable living spaces while minimizing environmental impact and energy consumption. Models already in use by companies like KOVA can predict users’ heating and cooling needs and optimize output to save up to 30 percent...

Who stayed in your hotel last night? Were they already sick, or had they been exposed to possible illness? Did the room attendant thoroughly clean the rooms? Hotel managers never know if a hotel room has been exposed to airborne or surface germs, but there are precautions that hoteliers take that can help hotel guests leave their stays unscathed by germs. Hotel guests increasingly care about health and wellness. For instance, before booking a hotel, I always check the reviews for comments about cleanliness and housekeeping. And the very first thing I do upon entering a hotel is wash my hands....

With the busy tourist season here, many hotels focused on protecting the environment and sustainability are taking a second look at their green cleaning arsenal and asking themselves, “Are these still the best green cleaning products available?” Asking this question is not only timely but a good idea. It’s easy to get into a pattern of ordering and reordering the same cleaning products year after year, unaware that new or more advanced technologies may be available that are more effective, sustainable, and cost-effective. The first step in rejuvenating your cleaning supplies is to meet with your janitorial distributor. Your distributor, if...

Move over caustic chemicals, a new era of cleaning and disinfectant solutions is in town. Electrochemically activated solutions (ECAS) continue to make a splash and shake up the cleaning industry. Easy-to-use, sustainable and effective, they are a trusted cleaning source for many consumer, commercial, institutional and industrial applications. From stadiums, breweries, bakeries, and senior living facilities to indoor agriculture facilities and more, businesses and consumers are ditching archaic, toxic cleaning programs for these sustainable solutions. More cleaning-focused companies are also making it a part of their service offering. But what exactly are ECAS? ECAS, commonly referred to in the past...

In the dynamic landscape of facility management, one principle stands as an unwavering cornerstone: sustainability. Far more than just a buzzword, sustainability has become an indispensable guiding principle for facility managers tasked with optimizing operations, minimizing environmental impact, and futureproofing their facilities. At the heart of sustainability lies a fundamental commitment to environmental stewardship. Facility managers play a pivotal role in minimizing resource consumption, reducing waste generation, and mitigating environmental impact. By implementing energy-efficient systems, adopting eco-friendly practices, and embracing renewable technologies, facility managers can contribute to the preservation of our planet for future generations. Over the past thirty years, corporations...

The hospitality industry is no stranger to evolution, and after surviving the chaos of the COVID pandemic and the aftermath, hoteliers are much more adept at pivoting as new trends and developments push the hospitality industry in new directions. This year has already ushered in a great deal of change, as consumer booking trends change and many of the top global economies experience contractions, but as always, there will be many other shifts that will impact the hospitality industry over the coming years; one of the most significant changes that we are currently experiencing comes with the entry of...

The integration of sustainable elements is on the rise in the hotel industry. Many guests are prioritizing their health and wellbeing, as well as the environment’s. This means they are embracing natural and organic materials and furniture that is sustainably and ethically sourced, and selecting hotels that uphold eco-friendly practices. Hotels and resorts that follow through on their sustainable commitments not only boost their credibility with potential guests, but they help conserve the environment simultaneously. However, embracing sustainable hotel practices isn’t as simple as installing LED light bulbs in every room. To create a holistically sustainable environment, each individual element...