Brand New Public Tourism Fund Launches in Paris
By Francois Victor on October 14, 2015
Paris, 13th October 2015
Horwath HTL France, part of the world’s number one hotel, tourism and leisure consulting brand have helped the French public investment group, Bpifrance, in the structuring of the new “France Investissement Tourisme” fund. The fund was launched on October 8th 2015 during the annual Tourism Convention organized by the French Ministry of Foreign Affairs.
François Victor and Charlotte Fougère from Horwath HTL France were engaged to:
- Identify the areas with specific development opportunities in the field tourism and leisure for which a specific fund could be allocated.
- Identify the financial needs of operators and investors in the sector looking specifically at innovation, change of scale, transformation and international development.
This new fund is the channel for Bpifrance’s to broaden its exposure in a sector generating employment that has cross border and international potential.
Francois Victor said, “We were very happy to work on the fund, as it fits within our core competencies and passion at Horwath HTL. Anything that can bring the attention of the finance industry to the sector is good, especially when the fund will stimulate restructuring, innovation and competitiveness of tourism and leisure firms.”
Operational since October 8th 2015, With a 100 M€ total budget and a 50 M€ first stage budget, the fund’s mission is to invest as a minority shareholder 0,5 M€ to 5 M€ amounts in equity or quasi equity in tourism and leisure firms. In a second phase, it will then be open to third party subscribers, especially to tourism and leisure professionals wishing to actively participate in the field’s evolution.
Established by a law of December 30, 2012, Bpifrance is a public investment group designed to serve companies and their growth, as the trusted partner of French businesses. In the area of territorial economic development, Bpifrance benefits from the strength of its two shareholders, the French State and the Deposits and Consignments Fund (Caisse des Dépôts). It has become an essential tool in boosting the economy, restoring competitiveness, reinforcing business investments, and thus participating in the country’s industrial revival. Bpifrance participates through its own equity or through the management of a third-party account. Its purpose is to become involved in market segments and companies that suffer from a partial or total absence of other financial players.
About Horwath HTL
Horwath HTL (Hotels Tourism and Leisure) is the world’s largest and most experienced Hotel, tourism and leisure-consulting brand, with over 50 offices in 39 countries. Horwath HTL provides unequalled expertise for clients around the world, always providing the highest level of service to our clients. Over the last 25 years, Horwath HTL has gained extensive market knowledge through involvement in thousands of projects.
Horwath HTL is a member of Crowe Horwath International, a professional association of accounting and management consulting firms founded in New York in 1915. Crowe Horwath International is currently ranked among the top ten international professional service groups with offices in close to 586 cities in 108 countries.