Climate Change Data

Environmental Metrics

ESG Focus Areas

• People and Society
• Marketplace
• Environment

Environmental Achievements

• >1.000.000kg materials recycled
• Continuous reduction of water consumption through water saving systems and awareness programs

Social Achievements

• 4.021 training hours to staff
• 87% of procurement budget spent to local suppliers
• 1:1 ratio of salary to men & women
• Zero incidents of corruption
• No staff member let go due to redundancy despite the COVID-19 pandemic

Governance Achievements

• 0 incidents of corruption
• Full DNV GL compliance and certification for correct and systematic monitoring, recording and notification of CO2 fuels

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic significantly impacting operations
• Seasonality of tourism in Cyprus and Greece
• Geopolitical tensions (Russia-Ukraine war) impacting tourism
• Health risks (COVID-19)
• Tourism and shipping industry risks
• Operational risks
• Litigation risks
• Reputation risks
• Non-compliance risks
• Geopolitical risks
• Cyber risks

Mitigation Strategies

• Participation in government programs to support employees and companies
• Cost reduction measures
• Securing additional financing from banks
• Measures to reduce seasonality (extending operating season, creating indoor activities)
• Investment in control and response measures for health risks
• Insurance cover against risks related to cruise vessel operations
• Compliance with laws and regulations
• Procedures to minimize reputation risks
• Supervision by Compliance Officer and monitoring controls
• Preparation for political violence, instability, or large-scale crises
• Constant monitoring, maintenance, and upgrades of systems

Supply Chain Management

Responsible Procurement

• Selection of local suppliers and local products meeting quality, environmental, and social criteria

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards: Core option, ISO 26000 for Social Responsibility

Certifications: OHSAS 18001 (Louis Hotels), ISO 22000:2018 (Food Safety), ISO 9001:2015 (Quality Management), ISO 14001 (Environmental Management), Travelife for Hotels & Accommodations Gold award (6 Louis Hotels)

UN Sustainable Development Goals

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The Group's sustainability initiatives contribute to several UN SDGs through various actions related to poverty reduction, economic growth, health and well-being, education, gender equality, water management, energy efficiency, decent work, responsible consumption, reduced inequalities, sustainable cities, responsible production, climate action, marine protection, justice, and partnerships.

Awards & Recognition

• Numerous awards from Cyprus Tourism Awards, Booking.com, TripAdvisor, Hotels.com, HotelCombined, and others

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• 850,000kg materials recycled
• Continuous reduction of water consumption through water saving systems and awareness programs

Social Achievements

• 9/10 customer satisfaction score
• 1:1 ratio of salary to men & women
• Over 12,000 training hours to staff
• Donation of white linen items to Oasis non-profit organization
• Support for One Dream One Wish Association

Governance Achievements

• 0 incidents of corruption
• 90% of procurement budget spent to local suppliers
• Implementation of a robust food safety management system in accordance with ISO 22000:2018

Climate Goals & Targets

Environmental Challenges

• Skyrocketing energy costs due to the prolonged energy crisis
• Staff shortages
• Geopolitical unrest impacting the tourism sector
• Seasonality of the tourism industry

Mitigation Strategies

• Investments in renewable energy sources
• Exploring alternative solutions such as renewable energy sources
• Expanding into new European markets and cultivating existing relationships
• Implementing measures to reduce seasonality effect by striving to increase the operating season of hotels beyond the summer season
• Keeping more hotels open throughout the winter

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Prioritizing local suppliers and products meeting quality, environmental, and social criteria

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI Standards

Certifications: ISO 14001, ISO 45001, ISO 9001:2015, ISO 22000:2018, Travelife Gold (6 hotels)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

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Sustainability initiatives contribute to various SDGs, aligning with the Group's long-term goal for achieving sustainable tourism.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Numerous awards from TripAdvisor, Booking.com, TUI, HotelsCombined, British Airways, World Luxury Spa Awards, Cyprus Tourism Awards, Inbusiness Awards, Cyprus Responsible Business Awards

Environmental Metrics

ESG Focus Areas

• Environment
• Society
• Governance

Environmental Achievements

• Implemented an Environmental Management System based on ISO 14001.
• Reduced energy consumption through administrative, technical, and economic actions.
• Improved waste management practices, including recycling and responsible disposal.
• Reduced water consumption through water-saving systems and awareness programs.

Social Achievements

• Maintained a low employee turnover rate.
• Implemented a robust food safety management system (ISO 22000:2018).
• Provided comprehensive training and education programs for employees.
• Supported local communities through various initiatives.
• Implemented a Personal Data Protection Policy to safeguard customer privacy.

Governance Achievements

• Established a central governance structure for sustainability and corporate responsibility.
• Implemented robust anti-corruption policies and practices.
• 91% of procurement budget spent on local suppliers in Cyprus and 85% in Greece.
• Adhered to the Corporate Governance Code issued by the Cyprus Stock Exchange.

Climate Goals & Targets

Environmental Challenges

• Impact of the Israel-Hamas conflict on tourism.
• Negative effects of the Russia-Ukraine conflict on tourism.
• Seasonality of the tourism industry.
• Climate risks (extreme weather, environmental depletion).
• Health risks (pandemics, etc.).
• Geopolitical risks (political unrest, instability).

Mitigation Strategies

• Shifting marketing focus to attract visitors from other regions.
• Implementing measures to reduce seasonality effects (extending operating season).
• Investing in appropriate control and response measures for health risks.
• Adhering to strict sustainability standards to mitigate environmental impact.
• Developing practices to protect and enhance the natural environment.
• Improving health and safety training and preparedness for extreme events.

Supply Chain Management

Responsible Procurement

• Prioritizing local suppliers and products that meet quality, environmental, and social criteria.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather conditions (wildfires, droughts, flooding).

Reporting Standards

Frameworks Used: GRI Standards

Certifications: ISO 14001, ISO 45001, ISO 9001:2015, ISO 22000:2018, Travelife Gold Certification (11 hotels)

UN Sustainable Development Goals

• 1
• 2
• 3
• 4
• 5
• 6
• 7
• 8
• 9
• 10
• 11
• 12
• 13
• 14
• 16
• 17

Sustainability initiatives contribute to several UN SDGs (see report for details).

Awards & Recognition

• Numerous awards received in 2023 from various organizations (see report for details).