American DG Energy has announced that it has reached agreements with Sunstone Hotel Investors Inc. to manage an energy plant conversion, along with installation and maintenance of a combined heat and power (CHP) system at the DoubleTree Suites by Hilton New York City – Times Square. The agreements should provide American DG Energy with approximately $1,300,000 in revenue in 2014.
Having completed a feasibility study for the property, American DG Energy was selected to oversee a complete energy plant conversion to reduce the property's dependency on utility steam and electricity and convert to a natural gas-based energy system. The conversion project will include five (5) 2 MMBTU boilers, two (2) 500-ton chillers and a 200 kW CHP system. Upon completion, the DoubleTree Suites by Hilton New York City – Times Square is expected to achieve significant energy cost savings, reduce their carbon footprint by 2,208 tons annually, and generate attractive return on incremental invested capital.
"The DoubleTree Guest Suites Times Square is a popular, high occupancy hotel that delivers a truly rewarding experience to each guest," stated W. Guy Lindsey, Senior VP Design and Construction of Sunstone Hotel Investors.
"We were seeking to further improve guest comfort, lower property operating costs and enhance the hotel environmental profile. American DG Energy is providing the technology and management to accomplish this from feasibility and engineering to installation and operations of new efficient energy systems."
Sunstone Hotel Investors Inc. is a hotel investment company with interests in 29 hotels with 13,740 rooms and an enterprise value of approximately $3.8 billion. DoubleTree Suites is the only all-suite hotel on Broadway in the heart of Times Square with 460 two-room suites.
On-Site Utility
American DG Energy sells the energy produced from an onsite energy system to an individual property as an alternative to the outright sale of energy equipment. On-Site Utility customers only pay for the energy produced by the system and receive a guaranteed discount rate on the price of the energy. All system capital, installation and operating expenses are paid by American DG Energy.
