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Energy

At a hotel, activities take place more or less around the clock. Pandox’s properties and operations therefore require a continuous supply of energy. Energy is needed for heating, ventilation and cooling, for example, as well as for lighting and kitchen equipment.

The total weather-normalised energy consumption of Pandox’s property portfolio (where measured data is available) increased by 12 percent in 2022 compared with the previous year, from 304 MWh to 342 MWh, due to higher occupancy rates. Energy intensity per guest night has decreased by 32 percent, however, which is an important indicator of how energy efficiently the hotel is operated. This shows that energy efficiency measures in Pandox’s green investment programmes, such as the installation of building management systems, energy recovery ventilation and training in how these are used, are yielding results.

Renewable energy is increasingly important

Pandox’s goal is to increase the use of renewable energy sources, particularly at hotels that Pandox operates and where it has a direct influence. In leases with external hotel operators the tenant is responsible for signing electricity contracts; the same is true of Pandox-operated hotels with management contracts. In consultation with the hotel operators Pandox can influence the type of lease chosen to some extent and aims to sign green leases that include renewable energy in their terms. In 2022 the share of renewable energy was 41 (41) percent of total energy consumption. The energy sources were wind and hydropower as well as electricity from the buildings’ own solar panels. Renewable energy made up 39 (39) percent of energy used in Property Management and 50 (48) percent in Operator Activities.

Solar panels and other self-generated electricity

Pandox’s aim is to install solar panels on hotel roofs within Operator Activities if the conditions for this are good. The target is for 30 percent of the hotels in Pandox’s Operator Activities segment to have solar panels installed no later than 2023. In 2022 five of Pandox’s properties had their own solar panels. No new solar panels were installed during the year but there are plans to install them in 2023 at Novotel Den Haag World Forum and Novotel Hannover. Studies have also been carried out to explore the possibility of installing additional solar panels at Hilton Garden Inn London Heathrow och Holiday Inn Brussels Airport. Two hotels that do not have solar panels were acquired during the year. In total, Pandox generated around 1,575 (584) MWh of electricity itself in 2022. Of this amount, 304 MWh came from solar panels and 1,271 MWh from local cogeneration (CHP). CHP was installed during the last quarter of 2021 and the full effect of this was evident in 2022.

Energy efficiency projects in Property Management

In 2022 Pandox carried out a number of projects that are helping to reduce energy and water consumption. Below are a few examples of projects in 2022.

  • A pilot project was launched at Hilton Stockholm Slussen in Sweden in which the hotel was equipped with an AI control system. The purpose of this technology is to achieve a more stable indoor temperature throughout the building and to save between 5 and 15 percent in heating energy and up to 25 percent in electricity for ventilation through automatic optimisation. This technology is of interest to Pandox as it leases out its properties exclusive of heating, i.e. energy is purchased by the tenant and it is the tenant that controls its optimisation.
  • Scandic Star Sollentuna in Sweden installed a fully updated substation complete with a modern control system that will help ensure more efficient operation. This could reduce energy use by an estimated 10–15 percent through less use of district heating and building electricity.
  • At Radisson Blu Arlandia in Sweden a new main control unit was installed. In addition to simplifying and improving operational efficiency, the new system is expected to reduce energy use by 5–10 percent.
  • At Scandic Alexandra Molde in Norway new windows were installed that provide a more airtight building envelope and better insulation. This is expected to save 8,200 kWh a year in heating.
  • At Vildmarkshotellet in Kolmården, Sweden a submeter was installed for water and electricity. This will facilitate monitoring as well as operation. By making data more readily available, troubleshooting in the building will be simpler and faults will be easier to locate.