2016 Sustainability Report
Our third annual Sustainability Report details our commitment to sustainable hospitality through the execution of our award-winning EarthView® program. Since its implementation in 2010, EarthView has materially reduced our portfolio’s environmental impact, enhanced community engagement across the gateway cities where we do business, and positively impacted our bottom-line. EarthView demonstrates Hersha’s impactful and differentiated approach across our high-quality hotels in leading urban and destination markets. We believe our environmental and community leadership is integral to successfully building a growing and productive enterprise.
In 2016, we continued applying portfolio-wide energy savings initiatives. 97% of Hersha hotels have now converted to LED (light emitting diode) lighting. In addition, Hersha has continued implementing guestroom energy management systems across the portfolio, reducing energy consumption when rooms are unrented or unoccupied. These initiatives save our hotel portfolio approximately $1.8 million on an annual basis. I am proud to share that over the past two years, we have achieved 13 Energy Star Certifications and three LEED certifications across our portfolio.
Once again, our sustainability commitment resulted in recognition by the National Association of Real Estate Investment Trusts (NAREIT). For the fourth time in five years, EarthView was awarded the prestigious Leader in the Light award among Lodging & Resort companies for superior portfolio-wide energy use practices and sustainability initiatives. Hersha also participated in the Global Real Estate Sustainability Benchmark (GRESB) for the fifth consecutive year, ranking in the top 3% of all GRESB participants globally and first among lodging peers.
Our commitment to sustainable hospitality is enduring, and a testament to how we establish and maintain unique capabilities at Hersha. Looking forward, we will continue our focused efforts to reduce our portfolio’s environmental impact while creating value for all of our stakeholders.
Jay H. Shah
Chief Executive Officer
Hersha Hospitality Trust