Lotus Management, Inc. Continues To Keep Their Sights On Sustainability And Environmental Conscious
For Immediate Release
Contact: Katki Patel, Director of Finance
T: (408) 912-5118
Lotus Management, Inc. Continues To Keep Their Sights On Sustainability And Environmental Consciousness
December 3, 2020 - Sustainability, environmental protection, and responsible tourism have never been more important in order to protect both guests and the world. At Lotus Management, Inc. hotels, a holistic approach toward sustainability spans multiple touchpoints such as food sourcing, waste management, energy, water and hotel operations.
Lotus Management, Inc. has qualified for C-PACE loans due to the continued focus on clean energy, efficiency and sustainability in development projects, while increasing awareness of the required regulations that are put into place in various counties.
“Clean energy is an essential focus for our development team,” states Rakesh Patel, Director of Development of Lotus Management, Inc. “Building codes have become increasingly strict with energy-efficient regulations. The ability to finance green initiative through C-PACE has provided a beneficial source of capital that make energy-efficient solutions more financially attractive for us.” continues Patel.
Lotus Management, Inc. remains committed to social and environmental solutions for its hotels. "We are excited there is an investment in infrastructure that will reduce our carbon footprint without a compromise to the luxury experience we create at Lotus Management, Inc. hotel’s.” states Patel.
About Lotus Management, Inc. - Lotus Management, Inc. was established in 1979 and is headquartered in San Jose, CA. Lotus Management, Inc. is a family run, fully integrated hotel ownership, development, and operations company – a recognized leader that has defined and cultivated the ability to achieve consistent, sustainable growth among mid-to-large-scale hotels across the western US. Its current portfolio encompasses representation of the following leading brands: Marriott International, Inc., InterContinental Hotel Group, Choice Hotels, Wyndham Hotel Group and independent hotels. For more information about Lotus Management, Inc., please visit our website at LotusMgmtInc.com.
About C-PACE - Financing was introduced in California in 2008 as a form of voluntary parcel tax assessment financing to fund qualifying improvements that reduce energy and water usage, and that provide seismic and other resiliency benefits to commercial properties. C-PACE financing for commercial real estate, which has been adopted in 35 states and the District of Columbia, allows property owners to repay qualified investments for building upgrades and new construction as a line item on the property's ordinary property tax bills.
Commercial Property Assessed Clean Energy (C-PACE) can close the gap with a new option for owners and developers of hotels to fund up to 100% of energy-efficient and renewable building upgrades and new construction on a non-recourse permanent loan basis. C-PACE functions through a public-private partnership enacted by state law and is funded entirely by private lenders. The funding is earmarked solely for energy-related improvements such as water conservation, seismic resiliency, for renewables, lighting, mechanical and plumbing.