Hotel News: LEDSource Saves Operators Money

Hotel News: LEDSource Saves Operators Money

Hotel News: LEDSource Saves Operators Money is saving Hoteliers big money and adding to margins.

The Chatwal Hotel is an example of how LEDSource is delivering savings.

The Chatwal Hotel completes LED lighting retrofit reducing lighting energy use by 90%.

Uses rebates and incentives program to lower costs to $1 per LED lamp.

Located in the heart of Manhattan’s Theatre District, The Chatwal Hotel reminds guests of a glamorous era in an Art Deco style. Master architect, Thierry Despont, has beautifully restored and modernized this iconic five-star Luxury Collection Hotel.

Conserving Energy

New York City is experiencing a revolution, but of the energy kind. The City, which is among the highest in the country for energy rates, is making significant strides in enticing businesses to save energy. New compliance laws and a variety of incentive programs have been established to help offset the costs of reducing electricity.

Upgrading With Rebates

The Chatwal Hotel was looking for ways to reduce their lighting energy costs, but more importantly, wanted to ensure that any solution offered would maintain the exact look and feel of their existing lighting.

LED Source, a certified Con Edison Market and Energy Star Partner, worked with The Chatwal Hotel and their architect to ensure the project goals were being met. Through their Rebates and Incentives Program (LouMan Money Financing), LED Source was able to navigate, identify and obtain a rebate offered by the local utility.

An LED lighting solution was implemented to replace the existing 1,300 MR16 halogen bulbs in 80 rooms, as well as the hallways and common areas.
Significant Savings

Prior to the LED lighting retrofit, The Chatwal Hotel was using 50 watt MR16 halogen bulbs consuming 458,440 kWh, costing the hotel $110,025 annually in lighting energy.

LED Source provided a one-for-one replacement with Energy Star rated 5.2 watt MR16 LED lamps, saving almost 90% in lighting energy or 410,762 kWh annually.

The Results

It is estimated that The Chatwal Hotel will save $98,583 in lighting energy and $25,672 in maintenance costs. Total annual savings is estimated at $124,255 with a payback period of two months.

In addition, by utilizing the LED Source Rebates and Incentives Program and the company acquiring the available prescriptive rebates, the cost per LED lamp for The Chatwal Hotel was only $1 and decreased the payback period to four days.

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Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.