Hotel fund to deliver 15 new ‘green’ hotels

Pro-invest’s Australian Hospitality Opportunity Fund II will be backed a $50 million equity investment from the Clean Energy Finance Corporation and is aiming to achieve five-star ratings under the National Australian Built Environment Rating System.

Each of the new hotels will have their own clean-energy plans, aiming to introduce a minimum 25% energy saving on new developments while lowering emissions and reducing energy costs.

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Pro-invest chief executive Ronald Barrott says the move towards energy-efficiency initiatives could provide positive returns for investors.

“There is a misconception that energy efficiency is not economical. But as we have seen through our first fund, investing in sustainability measures is value accretive and will drive investor returns,” Barrott says.

“Walking the extra mile today on energy efficiency, by designing and developing our assets in the most environmentally friendly manner, means additional rewards later, including lower costs and higher guest satisfaction and employee engagement.”

The new properties sport the latest energy-efficiency innovations to reduce emissions, including low-carbon construction techniques such as cross-laminated timber, energy-efficient building management systems and heating and cooling equipment.

CEFC property lead Chris Wade says it is critical that developers of new buildings — which produce more than 20% of Australia’s total emissions — implement energy-­efficient strategies.

Pro-invest is also investigating the purchase of green power as well as carbon offset schemes across its hotel portfolio to help achieve its Carbon Neutral 2030 agenda.

Development is under way on Holiday Inn Express hotels in Parramatta in Sydney and Maroochydore on the Sunshine Coast.

This article originally appeared on www.theaustralian.com.au/property.