NEW YORK—Owners of hotel establishments are reporting growing levels of green building activity planned over the next two years, according to a new report released by McGraw Hill Construction in partnership with Waste Management, titled Green Retail and Hospitality SmartMarket Report: Capitalizing on the Growth in Green Building Investments.
The report is based on a study of 79 retail, 30 hotel and 22 restaurant owners conducted in 2013 by McGraw Hill Construction. The study defined a green building project as one built to LEED or another recognized green building standard, or one that is energy-efficient, water-efficient, and improves indoor air quality and/or engages in material resource conservation.
Hotel owners showed a substantial investment in green building—the percentage of those owners that have taken a green approach in over half of their building projects rose from 28% in 2011 to 48% in 2013, and is projected to rise to 64% by 2015.
“Green building has taken such hold in the industry that even sectors with unique challenges, such as retail and hospitality, are making stronger investments,” Harvey Bernstein, VP, Industry Insights and Alliances for McGraw Hill Construction, said in a statement.