Through our commitment to delivering long-term, industry-leading total returns, Pebblebrook Hotel Trust is committed to a resilient portfolio of lifestyle hotels and resorts operating in an environmentally sustainable manner and being managed with the health and well-being of employees, guests, operators, and suppliers as a priority. The sociocultural fabric of the communities in which our properties operate is celebrated as we strive to contribute to local economic development and social equity within those communities.
Our holistic approach to sustainability encompasses environmental sustainability, social responsibility, and inclusive and ethical corporate governance. Our six core aims underpin the Pebblebrook ESG vision and provide the framework for embedding ESG throughout our business model. They are:
- Exhibit complete transparency
- Create sustainable livelihoods for employees and partners
- Reduce the carbon footprint at both the property and portfolio level
- Invest responsibly into projects that support the surrounding community
- Hold ourselves and relevant stakeholders to the highest standard of ethical corporate governance
- Sustain an inclusive and equitable work environment, enabling collaboration among our diverse network of employees, suppliers and partners
Our ESG strategy was established to reduce our ‘footprint’ and create a sustainable environment for our employees and vendors, and bolster our overall business strategy – redeveloping out-of-touch properties into lifestyle branded hotels. To meet this aim, we invested nearly $6 million in projects on energy conservation and greenhouse gas emission reduction. We also continually evaluate and monitor energy usage, water consumption and waste production by running detailed benchmarking throughout our portfolio. We engage third-party consultants to assess energy performance and further reduce our standing investments’ environmental impact.
Pebblebrook’s approach to social responsibility is based on the understanding that our people and those who operate the hotels we own are the driving force behind our company’s success. In 2020, we will be launching a Racial Equity Team to ensure any systemic injustices are not brushed aside at our company and that diversity is welcomed, fought for, and celebrated. Also, at Pebblebrook, creating a healthy environment for our guests, employees, and contractors is a top priority, which we work towards maintaining a high-quality indoor work environment.
Pebblebrook takes its commitments seriously. While we rely on our major branded hotel operators to drive sustainability in their hotels that we own, as we advance, we plan to undertake a more proactive approach to supporting our independent and third party operators in numerous initiatives over the short-term to position our company as an ESG leader in the US lodging sector.