Meanwhile, our focus on communities is reflected in our support of national and global programs that help care for those in need. To that end, our Chief Executive Officer signed the CEO Action for Diversity and Inclusion Pledge, joining other CEOs across all industries in committing further to enhance diversity and inclusion in the workplace and boardroom. Hersha is committed to providing an inclusive, safe, and open work environment. For instance, our Ritz-Carlton Georgetown is an adaptive reuse of a formerly vacant industrial building, our Envoy Hotel supported the revitalization of Seaport, MA, our NU Hotel supports the local art community in Brooklyn, and our Philadelphia hotels support the Bethesda Project, which serves people experiencing homelessness and helps revitalize neighborhoods throughout Philadelphia. On a local level, our strategy is to be located in urban markets in the US and work with local partnerships to revitalize the community. We also provide in-depth sustainability leadership training to all property-level leaders, highlighting social impact opportunities through community engagement. To support our associates, we facilitate comprehensive succession planning and leadership development training for rising managers, hold regular performance evaluations, and provide competitive compensation and numerous non-salary benefits. By putting people first, we can provide for our guests, support our associates, and have a strong presence in our communities to drive positive change locally and globally. “Hearts that Serve” is one of our core values and reflects our long tradition of social responsibility and community engagement. Per the words of Hersha’s founders, there is no greater dignity than that found in service.
#HERSHA EARTHVIEW ISO#
Putting this philosophy into practice means we focus on reducing our environmental impact and integrating sustainable innovation across our value chain.Īs of year-end 2022, 36% of our hotels had been awarded a third-party building certification, such as LEED, EnergyStar, ISO 14001 (for environmental management), or ISO 50001 (for energy management).ġ9% Reduction in energy consumption per square foot across our portfolio in 2022 versus our baseline year of 2010ĥ4% Absolute reduction in greenhouse gas emissions across our portfolio in 2022 versus our baseline year of 2010ġ4% Reduction in water consumption per square foot across our portfolio in 2022 versus our baseline year of 2010 We are committed to operating in a way that enhances our communities and preserves our local and global environment. We strive to ensure that we provide the best experience to our guests, while also being responsible for our environmental impact Our hotels provide dining experiences, spas, engaging lobbies and a comfortable place for guests to relax at the end of the day.
$24 Million EarthView’s recorded savings since inception through initiatives implemented across our portfolioĪs a hotel company, we rely on nature’s resources to construct our buildings, fill them with heat and light, and transform ordinary buildings into extraordinary places to stay. Lodging Peers in the Global Real Estate Sustainability Benchmark’s (GRESB) Public Disclosure. EarthView has repeatedly been awarded the prestigious “Leader in the Light” award amongst Lodging & Resort companies for superior portfolio-wide energy use practices and sustainability initiatives. Our sustainability commitment has been recognized by the National Association of Real Estate Investment Trusts (NAREIT). On average, implementing EarthView creates $40,000-$50,000 in annual savings per hotel. To date, initiatives implemented as part of EarthView’s comprehensive program have achieved net savings of $24 million.ĮarthView’s sustainability initiatives drive annual operational savings that help hotels meet and exceed budget goals. This approach creates value via expense reduction in the short term and increased real estate valuation in the long term. Through EarthView, Hersha drives incremental value by implementing efficiency initiatives with measurable returns. Being active stewards of our environment and our communities makes for high-quality, responsible business.
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