A new study indicates that green building has emerged in the hospitality and retail industries.<\/p>\n\n\n\n
Statistics show that retail owners with green building plans have implemented green building projects in more than 50% of their annual project plans, jumping from 18% in 2011 to 38% this year, with a projected growth rate of 52% by 2015. In the food and beverage and hospitality industry, the percentage of projects implementing green building initiatives exceeding half of their annual project plans has risen from 28% in 2011 to 48% this year, and is expected to reach 64% by 2015.<\/p>\n\n\n\n
A green building plan is defined as one that meets LEED or other green building standards, or demonstrates energy conservation, water conservation, improved indoor air quality, and resource conservation. Two-thirds of retail owners (65%) and 73% of restaurant owners stated that they consistently practice green operations.<\/p>\n\n\n\n
What forces drive the green building trend? Undeniably, the enormous commercial profits following the implementation of green building programs are the main driving force.<\/p>\n\n\n\n
\u2013 Reduced annual operating costs: Retailers save an average of 8% in annual operating costs, while the hospitality industry saves approximately 1%.<\/p>\n\n\n\n
\u2013 Reduced energy consumption: Both the retail and hospitality industries reduced their energy consumption by 15%.<\/p>\n\n\n\n
\u2013 Asset value increased: retail sector increased by 7%, and hospitality sector increased by 11%.<\/p>\n\n\n\n
\u2013 Increased return on investment: retail sector increased by 8%, while hospitality sector increased by 14%.<\/p>\n\n\n\n
The research report points out that green building has always been a unique challenge for stable investments in the retail and hospitality industries. Interviews with property owners reveal that clear benefits are a major reason for implementing green building investments. Once owners can measure the reduction in environmental impact of green buildings and quantify the impact of green operations on sales speed and the welfare of employees, consumers, and customers, they are more likely to commit to green building initiatives.<\/p>\n\n\n\n
While the most frequently cited reason for promoting green building is reducing operating costs (66% in retail and 73% in hospitality), other factors are considered important in the decision-making process of industry players:<\/p>\n\n\n\n
\u2013 Discounts for public utility bills such as water and electricity.<\/p>\n\n\n\n
Maintaining and enhancing brand value is especially important for hotel operators, as brand value is just as important as costs.<\/p>\n\n\n\n
\u2013 Increased rate of return on investment.<\/p>\n\n\n\n
Besides business considerations, 44% of retailers and 50% of hospitality operators believe that environmental health and the well-being of employees and customers are also very important factors. Challenges facing larger green building investment projects include high down payments, internal budget considerations, and whether senior management will be willing to foot the bill.<\/p>\n\n\n\n
While energy efficiency remains a key consideration in green building initiatives, resource recycling and waste management are also becoming increasingly important issues. 75% of businesses believe that green operations largely require supplier cooperation, especially in waste management.<\/p>\n\n\n\n
This month, 23 hotel operators worldwide voluntarily joined the Hotel Carbon Measurement Initiative (HCMI) to work together to establish carbon emission calculation standards for the hotel industry. Other initiatives include reducing bottled water use or setting up electric vehicle charging stations.
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