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Hotel investment group launches world’s first “green” hotel fund

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Destination Capital, a hotel investment group in Bangkok, has announced that it will launch the world’s first ever “green” hotel fund. The fund will acquire hotels and implement sustainability systems and procedures to promote long term environmental and financial sustainability in investments using the EDGE certification programme. EDGE, an online platform, is an innovation of the International Finance Corporation, which helps property developers to build and brand “green” establishments in a fast and affordable way. EDGE is used by more than 170 countries and reportedly has kept almost 230,000 tonnes of carbon dioxide annually from entering the atmosphere.

DC’s fund, titled Descap I, is part of its efforts to acquire freehold, 4 star hotels in prime destinations all over Thailand. James Kaplan, the CEO of DC, says he sees opportunities to renovate hotels to accommodate “green” technology and systems due to the current Covid pandemic that has ravaged the tourism sector in the kingdom.

“Destination Capital’s adoption of the EDGE certification program will provide the Descap I with the opportunity to gain a competitive advantage by differentiating our products and improving carbon emissions of the hotels.”

“If there is one thing we have learned during Covid-19 it is that the environment and nature recover quickly from poor resource management practices. Our participation in EDGE will serve to encourage the hospitality industry to adopt best practices with respect to better managing our scarce resources, raise broader consciousness about global warming and stem the tide of environmental degradation. We will implement operational elements to reduce water consumption, reduce waste emissions, reduce electricity use, and to the best of our ability eliminate plastic usage.”

Descap I, is a Thai Private Equity Trust. The company partners with Private Equity and Institutional Funds to source hotel acquisition opportunities and manage assets in the Asia Pacific region, turning its main focus to Thailand.

SOURCE: Pattaya Mail

 

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4 Comments

4 Comments

  1. Avatar

    Toby Andrews

    Sunday, November 22, 2020 at 5:42 pm

    Yes Yes it’s for the environment.
    Dream up another sales pitch. This one has been done to death.
    Does this Destination Capital actually OWN any hotels?

    • Avatar

      Bobby m

      Sunday, November 22, 2020 at 8:40 pm

      Probably the cloak under which hotels will now be bought up at extremely low prices by those that have, from those that now have not. I seem to remember somebody said this would happen.

  2. Avatar

    SG666

    Sunday, November 22, 2020 at 8:04 pm

    Another investment scam.

  3. Avatar

    Ryan Lih

    Sunday, November 22, 2020 at 8:28 pm

    I smell another scam! Caution! Pandemic will have the smart people thinking up funds and what-have. See what happened to the Filipino girl with Thai girl scamming local Thais.

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