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Hotels are an indispensable part of today’s travel industry. Even after the impacts of the pandemic, there are more than 700,000 hotels and resorts worldwide [ref] that have a current global market worth $800 billion [ref].
When thinking about commercial buildings, the terms ‘larger-scale’, ‘more expensive’ and ‘more stakeholders’ may come to mind. These qualities are exactly why the impact of water leaks can be so devastating and is reflected in the average loss for commercial buildings at $1.4 million, compared to domestic homes at just under $4,000 [ref].
Domestically in the US, leaks can waste more than one trillion gallons of water per year [ref] and every day 14,000 Americans face a water damage emergency [ref]. This is reflected by how 1 in 50 US homes will make a water claim each year amounting to a huge strain of $13 billion in annual insurance payouts (2017). Behind these payouts, the added detriments of water leaks to homeowners and utility providers expand to damage of the surrounding property, higher water bills and dealing with secondary effects such as mold.