As Pandox mainly acquires existing buildings that are often quite old, there is significant potential and also a responsibility to develop and renovate the properties to make them more resource-efficient. Pandox has launched a green investment programme for the years 2020–2023. The programme is focusing on measures to reduce energy and water consumption, and on technical installations such as building monitoring systems with integrated submeters.
The goal is to reduce gas consumption by 25 percent, electricity consumption by 35 percent and water consumption by 20 percent. This will reduce GHG emissions by 20 percent.
The programme includes 12 of Pandox’s 20 properties in Operator Activities. These hotels are located in Germany, Belgium, the UK and Finland.
The total investment in the current green investment programme is around MSEK 80 and the average return on investment is estimated to be around 20 percent. In 2021 Pandox were able to see the first savings, but the main effect is expected to be realised in 2022.
In 2021 a new investment programme, 2.0, was created for an additional six hotels in Pandox’s Operator Activities segment.
Pandox has decided to certify all 20 buildings in the Operator Activities segment according to BREEAM. During 2021 three buildings were certified and the process is ongoing for even more properties.
At the end of 2021, 100 percent of the hotels in Operator activities were environmentally certified. Green Key certification is one of the leading standards s in the tourism industry, including hotels. In Property Management, 63 (80) percent of the tenants’ hotels have some form of environmental certification.
Pandox hotel property portfolio comprises 157 hotell with around 35 000 hotel rooms in 15 countries. The hotels are operated under different types of agreements with well known hotel brands. Pandox has also created several independent brands. The business is operated in two segments Operator activities and Property management.