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Green investments

As Pandox only acquires and owns buildings that already exist and that are often older, there is significant potential and responsibility to develop and renovate the properties to make them more resource efficient. Pandox therefore introduced a green investment programme in 2019 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.

As Pandox only acquires and owns buildings that already exist and that are often older, there is significant potential and responsibility to develop and renovate the properties to make them more resource efficient. Pandox therefore introduced a green investment programme in 2019 for the years 2020–2023. The timeframe has not been appreciably impacted by Covid-19. However, the capital-intensive investments have been postponed for one or two quarters and consequently the significant savings effect will not be evident until 2021.

The programme includes 12 of Pandox’s 20 properties in Operator Activities. They are located in Germany, Belgium, England and Finland. The programme is focusing on measures to reduce energy and water consumption, and on technical installations such as building monitoring systems with integrated submeters. At the end of the year, 58 percent of the hotels had building monitoring systems installed and all had submeters. The aim is for all to have building monitoring systems in place before end of 2021. It is also important to generate engagement and awareness in this area among hotel general managers so that the programme receives the necessary attention – especially among those in charge of technical systems – to achieve successful outcomes. This includes educating these individuals in how to manage the new systems, how to monitor consumption on a daily basis and how to adapt the system to actual needs.

The investment amount is around MSEK 80 and the average return is expected to be around 20 percent. Through the green investment programme Pandox can work proactively on the technology in the properties, increase resource efficiency and reduce energy and water consumption. This provides significant cost savings and allows Group targets to be set for water and energy consumption. The investments are also helping to increase guest comfort through better control over heating, ventilation and cooling systems. The target for 2021 is to include the remaining eight hotels in Operator Activities in the programme.