The rise of electric vehicles (EVs) is creating a new business opportunity for hotels. This article from Lodging Magazine by George Seli explores the growing demand for EV charging stations and the potential return on investment (ROI) for hoteliers.
With EV sales exceeding 1.6 million in the U.S. in 2023 and projected to reach a third of all new vehicle sales by 2030, offering charging facilities could soon become an essential amenity for attracting guests.
So, what’s the ROI on installing EV chargers? While the initial cost is a factor, the article highlights several ways hotels can benefit:
- Increased Revenue: Charging fees can generate additional income, estimated at $12-$20 per night.
- More Room Bookings: Offering EV charging can attract new guests who prioritize this amenity.
- Competitive Advantage: Early adopters can position themselves as leaders in sustainability and attract environmentally conscious travelers.
The article delves into different charger types and their considerations:
- Level 2 Chargers: Considered the “sweet spot” for hotels, offering a balance between cost and charging speed (3-8 hours).
- Level 3 Fast Chargers: More expensive but can fully charge a car in 30-60 minutes. While not essential for overnight stays, they may be attractive for future use.
Beyond the hardware, the article offers tips on maximizing your return:
- Incentives and Rebates: Leverage federal and local programs to reduce installation costs.
- Marketing and Promotion: Update online listings, maps, and social media to showcase your EV charging amenities.
- Publicity Events: Host ribbon-cutting ceremonies or partner with local officials to raise awareness.
Overall, the article suggests that installing EV chargers can be a strategic investment for hotels. By offering a seamless experience for EV drivers and positioning themselves for a future with more electric vehicles on the road, hotels can gain a competitive edge and attract new customers.
Link to the original article: ROI for EV Chargers Is More Promising Than Ever