Chalet Hotels Limited (CHL), owner, developer and asset manager of high-end hotels in key metro cities in India, has become the first Hospitality Company, globally, to join Climate Group's RE100, EP100 and EV100 initiatives linked to renewable electricity, energy efficiency and electric mobility respectively. The announcement comes during the Climate Week NYC 2021, one of the biggest climate summits in the world, showcasing climate action undertaken by leading businesses and governments. Over 500 companies globally have joined Climate Group's RE100, EP100 and EV100 initiatives. These include over 25 commitments coming from India-headquartered companies.
Under the three initiatives by Climate Group, Chalet Hotels' commitments include:
(Renewable Electricity) RE100:
- All properties under the Company's portfolio will move to 100% renewable electricity by year 2031
- Non-fuel-based energy sources like solar wind and hydro power, already contribute 51% or 13270 MWh of the power usage across the hotel portfolio
- This will enable the Company to reduce its scope 2 emissions which amounts to 10000+ tCO2; while also reducing dependency on grid electricity which stands at 26000+ MWh. This saving in grid power is adequate to provide electricity to around 171 Indian rural villages for a year
(Energy Productivity) EP100:
- Chalet Hotels commits to double its revenue per unit of electricity consumed by the year 2029, considering a baseline year of 2016
(Electric Vehicles) EV100:
- 100% of the vehicle fleet deployed across the properties in the portfolio, that is used for guest transport, will transition to Electric Vehicles by 2025
- All Chalet properties will be equipped with EV Charging points accessible to both employees and visitors. With an average footfall of approximately 7,50,000 per month (during normal times), across hotels and commercial office spaces, Chalet sees this as an opportunity to influence and encourage a larger populace to transition to EV's
Speaking on the announcement, Mr. Sanjay Sethi, MD and CEO, Chalet Hotels Ltd. said, "We have a firm resolve to run our business in a responsible way and I am delighted that we are now committed to the initiatives of the Climate Group. This is in line with our overarching vision to create extraordinary shareholder value through enduring experiences for our guests, partners, colleagues and communities. As we move ahead to deliver impactful outcomes on our key focus areas, we stand committed to building a more sustainable eco-system."
Speaking on the announcement, Mr. Rajneesh Malhotra, COO, Chalet Hotels Ltd. said "We are delighted to share that Chalet Hotels has committed to the three initiatives from Climate Group, and it doubled our joy to know that we are the first hospitality company globally to do this. As a signatory to these initiatives, we are committed to being an energy-smart company, endeavoring to do 'more-with-less' by improving our energy productivity, sourcing 100% of our power from renewable sources by 2031, along with accelerating the transition to electric vehicles (EVs). Today's consumers and shareholders prioritize sustainability and choose to partner with brands they believe are doing social or environmental good, and we at Chalet Hotels fit their criteria."
Divya Sharma, India Executive Director at Climate Group said, "We welcome Chalet Hotels to our RE100, EV100 and EP100 initiatives, as it joins a global network of over 500 companies taking action in the Climate Decade. As an early adopter, Chalet Hotels has set an example for other businesses in the country by committing to scale up efforts on renewable energy, electric transport and energy efficiency."
Amongst its other sustainability initiatives, Chalet Hotels is in the process of putting into place measurable benchmarks to monitor its carbon footprint, and electricity and water consumption through the deployment of solutions based on the Internet of Things (IoT) and automation. Hotels of the Chalet portfolio ensure 0% waste-water discharge and have been committed to reducing use of single use plastic and paper. The Company has reduced overall energy consumption, by investing in energy efficient devices, automation, and latest technology, across its portfolio.
Shares of Chalet Hotels Limited was last trading in BSE at Rs. 185 as compared to the previous close of Rs. 179.95. The total number of shares traded during the day was 110085 in over 2633 trades.
The stock hit an intraday high of Rs. 198.45 and intraday low of 179.5. The net turnover during the day was Rs. 20976347.