Green investment programme for Pandox-operated hotels
Pandox has a green investment programme for the years 2020–2023. The goal is to reduce natural 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 investment amounted to MSEK 80 with an average expected return of around 20 percent. The green investment programme is focusing on measures to reduce energy and water consumption, and on technical installations such as building management systems with integrated submeters. All the hotels have these building management systems for more climate-smart management of the buildings. In 2022 the focus was on fine-tuning and controlling the systems that were installed in 2021. This also included training for the individuals who will manage the new systems so that they can monitor consumption on a daily basis and adapt the system to actual needs. The full effect and target fulfilment is expected in 2023. These measures are also helping to improve guest comfort through better control over heating, ventilation and cooling. Targets for waste were also developed in 2021 and these took effect in 2022.
Expanded investment programme
A follow-up green investment programme 2.0 was rolled out in 2022 for an additional four hotels operated by Pandox. Similar to the first programme, the focus is on installations such as insulation of pipes and ceilings, control systems and water leakage systems. It is hoped that the effects will be shown from 2023 onwards. The two programmes will be combined and adjusted from the beginning of 2023 to focus on the Science Based Targets and include all of the 20 hotels operated by Pandox. The new base year is 2021 and the programme will continue until 2030.
1) Calculated based on occupancy in a normal year (2018). Outcome adjusted for Covid-19 effects
Pandox certifies its properties to BREEAM, which is an established standard in Europe for green properties. The certification process involves assessment and a scoring system in the following areas: Energy, Transport, Water, Materials, Pollution, Health and Wellbeing, Land Use & Ecology, Management.
Pandox’s ambition is for all of the hotels in Operator Activities to have Green Key certification unless they already have another 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.