Skift Travel News Blog

Short stories and posts about the daily news happenings around the travel industry.

Venture Capital

European Venture Capital Fund Picks Up Hospitality and Airline Board Members

2 months ago

Roch Ventures, a European venture capital fund with Boston Consultant Group ties, announced that Six Senses CEO Neil Jacobs, Ennismore Brand Chief Operating Officer Chadi Farhat, and former Air France Executive Vice President Amel Hammouda have joined the fund’s board of directors.

Bobby Demri, former Boston Consulting Group software innovation director, and Ludger Kuebel-Sorger, senior partner emeritus at Boston Consulting Group, co-founded the fund in January. It aims to make euro 100 million ($102 million) worth of investments in tourism and hospitality companies over the next few years with a focus on European tech and sustainability.

The fund is eyeing seed stage and Series A investments in Europe. It soon plans to open offices in Tel Avis and Frankfurt.

Hotels

Saudi Arabia Taps New $400 Million Fund to Help Build Ennismore Branded Lifestyle Hotels

2 months ago

Saudi Arabia’s tourism development fund said it would help invest in the building of lifestyle hotels in the kingdom through a new hotel investment fund worth $400 million (1.5 billion Saudi riyals) that Al Rajhi Capital will manage.

Ennismore, a lifestyle hospitality joint venture with Accor, will pinpoint locations, provide financing options, and lead the development and operation of these projects, which will create about 2,000 hotel rooms.

Ennismore didn’t specify which of its 14 brands — which includes 25hours, The Hoxton, Delano, Gleneagles, Mama Shelter, Mondrian, Morgans Originals, and 21c Museum Hotel — will appear in the kingdom.

Saudi’s tourism development fund (TDF), created in 2020, has $4 billion to drive tourism growth in the kingdom.

Ennismore was founded by co-CEO Sharan Pasricha, who will be speaking at Skift Global Forum in New York.

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