Destination Capital has announced the launch of the world’s first Green Hotel Fund and partnership with the International Finance Corporation’s (IFC) “Excellence in Design for Greater Efficiencies” (EDGE) green building certification.
The objective is to raise capital and financing to acquire freehold hotels in prime destinations that would rebound the quickest after Covid 19, and then renovate them as per the EDGE standards, reposition them to reflect their ‘Green” credentials and then to rebrand them to increase the value of the properties in order to generate meaningful returns to investors.
Destination Capital’s participation in EDGE will serve to encourage the hospitality industry to adopt best practices with respect to better managing Thailand’s scarce resources, raise broader consciousness about global warming, and stem the tide of environmental degradation. Implementing EDGE operational elements will reduce water consumption, waste emissions, electricity use and to reduce and eliminate plastic usage.
Destination Capital is committed to investing in IFC’s EDGE standards believing that it not only makes good business sense but also offers benefits from shorter payback periods as well as resulting in significant long term savings in operational costs of running hotels. Hotel developers and investors also gain a ‘green’ and sustainable solution that is a benefit to communities and the environment alike.