How Solar Exceeded Oscars Hotel Expectations and Delivered an ROI of Less Than 3 Years
Blog | October 11th, 2023
Oscars Hotels is one of New South Wales’ largest hospitality groups, operating across a variety of segments including pubs and gaming, accommodation, retail liquor, conference and events centres, chartered vessels, and both commercial and residential developments.
The Challenge
In 2020 Oscars Hotels began looking for a way to manage their increasing operating costs with COVID heavily impacting the hospitality industry and electricity prices on the rise. The group initially switched to a cheaper electricity provider to bring their overheads down, however this proved ineffective as a long-term solution.
The Solution
Understanding the importance of finding a reliable, cost-effective and environmentally friendly alternative for their energy needs, Oscars Hotels then turned to renewable energy, entrusting Solar Energy Enterprises to provide a solar solution starting with their larger locations.
The Results
The 20 solar system rollout began in 2021 and has exceeded all expectations. The systems have a total capacity of 2MW and produce around 3,000MWh of energy every year, offsetting a significant amount of daytime power for the venues.
Their internal accounts team have calculated an impressive return on investment at just 2.5 years, and the substantial savings are allowing them to invest back into the business with solar carparks and EV charging stations.
In addition to the financial benefits, the systems are also expected to eliminate 2,800 tonnes of harmful CO2 annually.
When asked how Oscars Group have found the experience going solar with Solar Energy Enterprises, Chief Financial Officer, Adam Price said, “Oscars Hotel Group selected Solar Energy Enterprises as our partner to complete a solar rollout across 20 sites in our portfolio, including Novotel, Ibis Hotels and Holiday Inn locations.
“Throughout the process Solar Energy Enterprises have been highly competent, professional and easy to deal with, and we’ve been extremely impressed with the results achieved.
“With our internal accounts team projecting a return on investment in just 2.5 years, solar has been an excellent investment for us and we couldn’t be happier with the service Solar Energy Enterprises provided.
“I have no hesitation in recommending them to others.”
Optimized by NetwizardSEO.com.au