Polaris Holdings (3010)
Climate Impact & Sustainability Data (FY3/2022, FY3/2024 (Q1))
Reporting Period: FY3/2022
Environmental Metrics
Climate Goals & Targets
Medium-term Goals:
- Operate 34 hotels with 6,396 rooms by FY3/2024.
- Shift contract mix to majority (39%) low-risk management contracts by FY3/2024.
Environmental Challenges
- Onerous market conditions due to the COVID-19 pandemic and related travel restrictions.
Mitigation Strategies
- Comprehensive cost reduction program, renegotiating leases with hotel owners, temporary hotel closures, and capital raising.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: FY3/2024 (Q1)
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- Stagnation in the hotel market during the pandemic
Mitigation Strategies
- Shifting business model towards low-risk management contracts and owner/operator model
- Recapitalization strategy
- Asset disposals to improve financial position and generate capital for future growth