Fairmont Royal York Hotel Retrofits

Sector(s)
Green Infrastructure
Location(s)
Toronto, Ontario
Participation
$38 million
Partner(s)
Fairmont Royal York Hotel & KingSett Capital

Decarbonizing the Fairmont Royal York Hotel through deep energy retrofits

Sustainable, energy efficient retrofits to lower building carbon emissions.

Fast facts

Greater energy efficiency by electrifying the hotel’s energy sources and eliminating its reliance on the current steam-based systems
Significant reduction in carbon emissions, with the aim of reducing the iconic hotel’s emissions by more than 80 per cent
To date, the CIB has committed more than $800 million toward building energy retrofits

We are investing $38 million toward deep energy retrofits at the Fairmont Royal York Hotel. The CIB’s financing will transform the hotel into a leader in sustainable accommodations.

The partnership will help decarbonize the hotel, paving the way forward for future green retrofits within the hospitality sector.

Benefits of CIB Involvement

Inefficient energy consumption of buildings is a major source of greenhouse gas emissions. The CIB’s works with private sector real estate owners to modernize their infrastructure assets. The CIB’s upfront financing of the capital costs of building retrofits creates jobs, long-term energy savings and a low-carbon future.

The CIB’s financing will move the decarbonization work forward.

Learn more

Accor Central Canada, Fairmont Royal York

Fairmont has a longstanding history of environmental stewardship, and this important effort is a transformative step in the hotel’s journey toward minimizing climate change and reinforcing our pledge to our planet. We are fortunate to have steadfast partners that share our commitment to environmental sustainability, as well as our enthusiasm for ushering in the next chapter in hospitality. With the travel industry's vibrant recovery came an increased expectation around sustainability, and it is our responsibility to continue to embrace impactful sustainability practices that reduce our environmental footprint and contribute to a better future for all.

Edwin Frizzell, Regional Vice President and General Manager
KingSett Capital

We are proud to be partnering with the CIB to fund the decarbonization of the iconic Fairmont Royal York Hotel. This initiative, made possible by the CIB, adds strength and resilience to one of our core assets and advances KingSett’s sustainability strategy. We are focused on setting meaningful reduction targets, executing decarbonization programs for our core assets and, most importantly, doing what is right for our stakeholders and the environment.

Jon Love, CEO