Hersha Hotels and Resorts just released its 2020 Hersha Earthview Sustainability Report. Hersha’s proprietary sustainability platform, EarthView, was created in 2010 and exemplifies their belief that they can simultaneously deliver financial value while supporting the well-being of their guests, associates, communities, and the planet.
For those of you not familiar with Hersha, they own and operate 48 hotels. Hersha has saved $20 million thanks to Earthview since its creation in 2010. Hersha has experienced a 1.7-year payback on its efficiency investments. In 2019, Hersha announced targets for reducing its environmental impact by 2030 (using a 2010 baseline) and has joined the Science Based Targets initiative to align its emissions reduction targets with “science based targets” requirements.
Because of the pandemic’s impact, Hersha’s environmental reduction numbers were impacted in 2020 so it highlighted its reductions versus 2019 while still presenting some 2020 versus 2019 data. For example, the company has reduced carbon emissions 44 percent since 2010 compared with 2019.
Regarding social impact, the company has volunteered 20,000 hours of time in local communities since 2015 and 568,000 new bars of sanitized and repackaged soap has been sent to developing nations since 2011.
Key to Hersha’s success is its full-time, in-house EarthView sustainability team that reports directly to Hersha’s CEO, and works closely with executives and senior leadership across departments, including asset management, capital planning, operations, risk management, and sales. Through this process, sustainability is incorporated into department-specific strategies and goals.
All sustainability strategies and initiatives undergo a rigorous analytical process to ensure they:
- Demonstrate a positive short-term return on investment
- Reduce annual tangible and intangible costs
- Improve levels of engagement and wellness for our communities and associates
In its report Hersha highlights some of the investments that have resulted in its energy savings, carbon emissions, etc. These include LED lighting (installed at over 95 percent of hotels), guestroom energy management systems, high-efficiency water fixtures and more.
To review Hersha’s entire 2020 report, click here.