Adoba Eco Hotel & Suites - the only hotel chain that's completely LEED-certified - has scored $75 million to expand.
MIT Partner's financing is the first round of a five-year, $1 billion expansion plan, says Atmosphere Hospitality Management, a Denver company that created the Adoba brand two years ago.
All hotels are either built or renovated to achieve LEED-Gold or Platinum certification. The expansion envisions two kinds of properties: 180- guest room Eco Hotel & Suites and an 112-guest room Eco Inn design.
Green features include:
- Green construction materials and premium recycled steel
- Best practices in energy efficiency using the company's "Adoba Smart Solar Roofing"
- Water conservation features
- Policies that minimize waste-to-landfill
- Restaurants that focus on sustainable food preparation
- Silent rooftop wind turbines
The company says the green hotels will differentiate the brand, providing a competitive advantage to hotel owners.
So far, Atmosphere Hospitality has renovated a former Radisson Hotel in Rapid City, South Dakota and a Hyatt Regency Dearborn in Detroit.
"Adoba is uniquely positioned to lead the hospitality industry with practices and initiatives that deliver superior guest services, while safeguarding the world we live in," says Jim Henderson, president and CEO of Adoba. "This investment from M1T represents the ground floor of an expansion to make Adoba's brand a prominent fixture in major travel markets."
Adoba's aspirations dovetail with the efforts of other hospitality companies to invest more methodically in sustainable business practices.
For example, major hotel brands committed last year to develop a standard methodology of carbon accounting for the hospitality industry. Those onboard include Fairmont Hotels & Resorts, Hilton Worldwide, Hyatt Hotels & Resorts, InterContinental Hotels Group, Marriott International Inc., MGM Resorts International and Starwood Hotels & Resorts Worldwide Inc.
Some companies, such as Marriott, are investing in electric vehicle charging infrastructure as an amenity for eco-conscious guests.
Marriott is also greening its supply chain, working toward reducing energy and water consumption 25% per room by 2017, and expanding its portfolio of green hotels and buildings tenfold over the next four years.
For more on Atmosphere Hospitality's eco-hotel business plan: