Financial Impact of LEED and Energy Star Certifications on Hotel Revenues

Spenser Robinson · A. J. Singh · Prashant Das

16 citations0/0 files storedThe Journal of Hospitality Financial Management

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Environmental Sustainability in Business Diverse Aspects of Tourism Research Sustainable Building Design and Assessment

Abstract

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.

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