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Edwardian Hotels London seals unique green loan
Edwardian Hotels London has secured a £175 million Green Loan from HSBC UK to ensure its new Super Boutique hotel, The Londoner, situated in Leicester Square will be one of the greenest hotels in the UK.
The deal with HSBC UK breaks new ground in sustainability for the hospitality industry. It is the first Green Loan in the sector that meets the Green Loan Principles, which were set out in March 2018 to encourage and facilitate environmentally-friendly economic activity.
The funding will be used to ensure the new hotel doesn't just meet but exceeds the BREEAM Excellent category in building environmental and sustainable performance.
Thanks to the Green Loan, The Londoner's impressive green credentials will range from the use of construction materials with a low environmental impact, to new technologies including an innovative liquid film which will reduce evaporation and energy loss from the hotel's swimming pool.
The hotel is also aiming to contribute to the sustainability of its neighbours by including a heat network connection. Initially, this will be linked to the Edwardian Hotels London-owned hotel next door to The Londoner, The Radisson Blu Edwardian Hampshire, but could also be extended to the surrounding area in the future. In total, the hotel is set to use 30 per cent less carbon than regulations demand.
Jasminder Singh OBE, chairman and founder of Edwardian Hotels London, said: "Since its inception we have always had bold ambitions for The Londoner to write itself into the very fabric of the city. We have been dedicated to delivering a high-quality, sustainable, integrated hotel and this Green Loan supports that vision.
"We are delighted that this new property, designed to celebrate the character of the capital, has become the first in the hospitality industry to secure this."
Alison Taylor, head of Corporate Real Estate, Hotels at HSBC UK, said: "This pioneering deal underlines Edwardian Hotels London's commitment to not only create a hotel of the highest quality in this iconic location, but also its desire to push the boundaries of what's possible in the sustainable development of hotels.
"This should be the first of many Green Deals for the UK's hotel sector in the years to come as the industry plays its part in using sustainable finance to tackle environmental issues. HSBC is committed to leading the way in Sustainable Finance and to promoting Green Loans across all the sectors we support."
Jasminder Singh OBE addresses guests at the hotel's launch event
Rob King, head of Sustainable Finance at HSBC UK, added: "HSBC has made a commitment to provide US$100bn of Sustainable Finance by 2025 to help businesses transition to a lower carbon economy.
"We are very pleased to have supported Edwardian Hotels London with a Green Loan to support the construction of this high-profile hotel with very strong sustainability credentials. Green Loans are an exciting development in Sustainable Finance which will encourage the investment urgently required to meet our carbon emission reduction targets."
The Londoner is in a new hotel category of one. Boutique in feel, yet staggering in scale, at 15-storeys the property will offer a multifaceted experience through its 350 exquisite rooms and suites, signature restaurants and dining offerings and with the bespoke meetings and event spaces infused with London character. It is scheduled to open in Spring 2020.
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