Onsite Solar Strategy, Feasibility and Implementation
Host Hotels & Resorts Portfolio Properties, including Hyatt Regency Maui, Fairmont Kea Lani, Andaz Maui, Hyatt Regency Capitol Hill, Westin Georgetown, JW Marriott Washington DC, Hyatt Place Waikiki, AC Kierland
Host Hotels & Resorts is an S&P 500 company and is the largest lodging real estate investment trust (REIT) and one of the largest owners of premium luxury hotels. REV Energy Ventures (REV) worked closely with Host to develop and implement a corporate renewable energy strategy to increase onsite solar PV across Host’s U.S. portfolio.
Since 2011, REV performed high level portfolio analysis to identify solar opportunities and in-depth feasibility assessments on over 100 hotel properties. The assessments enabled Host to invest approximately $17M in solar projects in Hawaii, Arizona and Washington, D.C. where REV provided turnkey services managing the whole project development lifecycle.
REV continues to identify renewable energy opportunities to support Host’s progress against its renewable energy target of 30% by 2025.
Services + Portfolio Results:
- Energy Assessment
- Financial Analysis
- Project Development
- Portfolio Project Returns: 17 to 21%
The property described below provides one specific example of how REV helped Host tackle their investment in renewable energy.
HYATT REGENCY MAUI
25 YEAR PROJECTED SAVINGS
$15 million in projected savings
18,450 Metric Tons which is equivalent to 3,437 homes’ electricity use from one year
1.05 to 1.15 MW Hours per year
26,700,000 kW Hours over 25 years
In 2016 Host Hotels & Resorts decided to address ESG goals in a significant way. They approached REV Energy Ventures to conduct a solar feasibility study for the Hyatt Regency Maui. At the conclusion of the study, Host retained REV as a turnkey owner’s representation team to manage the project from concept to commissioning. Due to the success and savings from phase 1, Host expanded their system in 2018 by an additional 110 kW.
MORE ABOUT REV ENERGY VENTURES
As an extension of the owner team, REV helps owners and management companies identify, negotiate, and implement solar projects guided by decades of experience in real estate development, construction, and renewable energy. Senior staff have experience with the National Renewable Energy Laboratory developing renewable energy for the Department of Defense.
Driven by IRR and optimal financial returns, REV is vendor agnostic and aims to make on-site solar easy, profitable and provide clients with the insights they need to make notable progress on their ESG goals. REV analyzes the potential for renewable energy and battery storage from both financial and technical perspectives.
- 11 Years in Business
- $145M Under Management
- 150+ Completed Projects
- Retained in 11 states
- 14.8% Average Client Return
- Clients include Host Hotels & Resorts, Marriott International, Sunstone Hotel Investors, Park Hotels & Resorts, Ryman Hospitality Properties, Prince Hotels, AvalonBay Communities, AIMCO