TY - JOUR
T1 - Financial impact of LEED and energy star certifications on hotel revenues
AU - Robinson, Spenser
AU - Singh, A. J.
AU - Das, Prashant
N1 - Publisher Copyright:
© International Association of Hospitality Financial Management Education.
PY - 2016
Y1 - 2016
N2 - This study examines the topline performance of a cross-section of hotels in the United States from 2009 to 2013 to test whether eco-labeled (LEED or Energy Star, in particular) properties generated revenue performance premiums over noncertified hotels. In other words, does it pay to acquire these labels? Regressions included regional, class, chain scale, size, and location controls. Custom comparable clusters were also separately tested. Results show that LEED-labeled hotels experience higher average daily rate but lower occupancy rates, resulting in a statistically insignificant difference in RevPAR. Energy Star- labeled buildings consistently showed higher occupancy.
AB - This study examines the topline performance of a cross-section of hotels in the United States from 2009 to 2013 to test whether eco-labeled (LEED or Energy Star, in particular) properties generated revenue performance premiums over noncertified hotels. In other words, does it pay to acquire these labels? Regressions included regional, class, chain scale, size, and location controls. Custom comparable clusters were also separately tested. Results show that LEED-labeled hotels experience higher average daily rate but lower occupancy rates, resulting in a statistically insignificant difference in RevPAR. Energy Star- labeled buildings consistently showed higher occupancy.
UR - http://www.scopus.com/inward/record.url?scp=85025824150&partnerID=8YFLogxK
U2 - 10.1080/10913211.2016.1236567
DO - 10.1080/10913211.2016.1236567
M3 - Article
AN - SCOPUS:85025824150
SN - 1091-3211
VL - 24
SP - 110
EP - 126
JO - Journal of Hospitality Financial Management
JF - Journal of Hospitality Financial Management
IS - 2
ER -