citizenM hotels recognized for participation and awarded 5 star rating in the 2021 GRESB Real Estate Assessment
Amsterdam, 15th October 2021 – citizenM demonstrates its continuing commitment to ESG transparency and improved performance by participating in the 2021 Real Estate Assessment and achieving the highest rating available, attained by only 20% of entrants, 5 stars.
This is the fourth year citizenM has taken part in the GRESB assessment. GRESB – formally known as the Global Real Estate Sustainability Benchmark – is a mission-driven, investor-led organisation that has standardised ESG data. Since 2008, GRESB has been the global benchmark for real estate and, more recently, infrastructure. It has covered more than 96,000 assets and 540 infrastructure portfolios – and over 100 investors use this data to steer the industry towards a more sustainable future.
Each year, GRESB assesses and benchmarks the ESG performance of assets worldwide, providing clarity and insights to financial markets on complex sustainability topics. The GRESB Assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of asset investments and are aligned with international reporting frameworks, goals and emerging regulations. The GRESB ESG Benchmark grew this year to cover more than $6.4 trillion of assets under management, up from $5.3 trillion the year before.
GRESB data is used by hundreds of capital providers and thousands of asset managers to benchmark investments across portfolios and to better understand the opportunities, risks and choices that need to be made as the industry transitions to a more sustainable future.
The award demonstrates citizenM’s commitment to its wider Environmental, Social, and Governance (ESG) strategy: to be a proudly conscious, sustainable hotel brand. From the first hotel opening in 2008, citizenM has been on a mission to bring affordable luxury, green buildings and a conscious approach to travel in the world’s most exciting cities – and will continue pushing forward to become a leader in the field. citizenM is all about the latest tech, bringing world travellers everything they need, and nothing they don’t. This ethos feeds into the brand’s approach to sustainability; reducing waste, developing green buildings and setting the standard for hotels across the globe.
Taking part in the GRESB assessment means citizenM can align with ESG standards and grow as a positive, sustainable brand whilst benchmarking itself against leaders in the real estate industry. It’s working, too: 2020 saw citizenM jump over 25% in their score compared to 2019 for the GRESB standing investment benchmark report. In 2021, their score jumped a further 12%, placing citizenM in the five-star rating category.
Klaas van Lookeren Campagne, Chief Executive Officer at citizenM says, “we are proud to be recognised with this five-star rating - a true testament to our dedication to putting ESG at the heart of our business strategy. Our vision is to influence positive change in a world where we are simply guests, by building better and more sustainable futures for our guests, employees, shareholders and communities. This recognition reflects the great teamwork and collaborative effort of employees across our whole company, and we’re thrilled to see our efforts being rewarded year after year.”
“Across the globe, organizations are demonstrating a deep commitment to ESG integration while making important strides towards a more sustainable future for us all,” said Sebastien Roussotte, CEO of GRESB. “ESG transparency and improved performance have never been more important, and it is inspiring to see such a high level of dedication from the industry, particularly when so much has been disrupted by the pandemic this last year.”
Note to Editors
Rachael Jevons | Francesca Formenti
citizenM was launched in 2008 with a purpose – to disrupt the traditional hotel industry. Rattan Chadha – the founder of the global fashion brand Mexx – was inspired by his employees to create a hotel for the modern travellers, giving them everything they need and nothing they don’t. This means central locations in the world’s most exciting cities, but at an affordable price. Not just a place to sleep, but somewhere to work, relax and play – just like home. Somewhere with superfast free Wi-Fi, tech that makes life easy, and a great bed to crash in at the end of a long day. Rattan Chadha called this philosophy ‘affordable luxury for the people’.
The first citizenM opened at Amsterdam’s Schiphol Airport in 2008. In 2021, citizenM’s portfolio has 23 hotels in 15 exciting cities: London, Glasgow, Amsterdam, Rotterdam, Paris, Copenhagen, Zurich, Geneva, New York, Los Angeles, Boston, Seattle, Washington DC, Taipei and Kuala Lumpur.
GRESB is a mission-driven and industry-led organization providing standardized and validated Environmental, Social and Governance (ESG) data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world, used by 140 institutional and financial investors to inform decision-making.