Dear Fellow Stakeholders,
Our EarthView® sustainability program completed its seventh successful year, again receiving industry-leading recognition from the National Association of Real Estate Investment Trusts (NAREIT) and ranking in the top 4% of approximately 820 participants in the Global Real Estate Sustainability Benchmark. We founded EarthView in 2010, motivated by our belief that environmental and community stewardship are integral to maintaining and building a successful and growing enterprise.
Our approach to sustainability stems from our company’s innovative culture and utilizes the triple-bottom-line framework to measure impact, the results of which we highlight in this report. EarthView is now successfully implemented across many leading branded and independent hotels, institutional ownership groups, and geographic regions. Our portfolio’s purposeful market cluster approach helps us to effectively share best practices and tailor our methodology to region-specific opportunities.
2017 marked a challenging year for the lodging industry. In September, we experienced major hurricanes in Houston and South Florida, while at the end of the year, wildfires and mudslides spread along the California coast. Despite the challenges these natural disasters caused, I was impressed with and inspired by our team’s ability to quickly mobilize to help with rescue and revitalization efforts during times of uncertainty.
As we look to the future, we are encouraged by the growing awareness of sustainability in the business community. We see now more than ever that talented individuals are seeking to work with innovative companies that are top performers in both their businesses and their commitments to the environment and society. EarthView embodies this interest. I am proud of our team’s leadership in this regard and remain committed to maintaining a platform for innovation and cultivation of new concepts in sustainable hospitality. EarthView creates value today and ensures long-term value for all our stakeholders including our local and global communities.
Thank you for your interest and for taking the time to read our report.
Jay H. Shah
Chief Executive Officer
Hersha Hospitality Trust