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Cornell Real Estate Review

Abstract

Most hotels maintain resource-intensive operations in order to serve guests around the clock. Therefore, it is important to consider lodging properties with respect to environmental concerns. Though the public has become increasingly cognizant of the environmental impact of real estate in general, it has, for a long time, ignored the specific contributions of hotels to today’s environmental decay. However, a growing number of hoteliers realize that a shift in demand towards more sustainable practice has occurred, and the recent introduction of lodging properties to green rating systems testifies to this shift. The present study is intended to provide convincing evidence of the economic value of green certifications through the lens of the lodging industry.

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