The tourism industry accounts for approximately 5 percent of global greenhouse gas (GHG) emissions, and emissions are expected to grow 135 percent by 2035 under a business-as-usual scenario. Additionally, hotels account for 21 percent of all emissions from tourism, primarily from activities such as heating and cooling, cooking, cleaning, and lighting. One way that hotels can minimize the emissions impact of these activities is through energy efficiency initiatives.i
KKR engaged Chartres Lodging Group, LLC (Chartres Lodging) on a portfolio of lodging properties across the United States. Chartres Lodging is an advisory and investment firm focused on the property management, asset management, renovation, and development of lodging assets.
In 2015, Chartres Lodging began working with KKR’s Green Solutions Portfolio (GSP) team to begin evaluating potential energy efficiency projects including lighting upgrades, heating, ventilation, and air conditioning (HVAC) equipment and control solutions, and kitchen exhaust retrofits at a number of properties.
In 2017, Chartres Lodging began several lighting upgrade projects and installation of kitchen exhaust controls coupled with variable frequency drives. In addition to this work, the Chartres Lodging team is in the process of implementing energy efficiency and green building practices during renovation of a number of properties.