Chris Burch is Changing the Face of the Global Hospitality Sector through Nihiwatu
The best hotel world over for the year 2016 was Nihiwatu, Chris Burch’s sensational 5-star resort that he built in one of the islands in Indonesia. Chris is a man best known for his dominance in the fashion sector. He has proven beyond any reasonable doubt that he is indeed a serial entrepreneur who can transform any industry that he sets his feet in.
As a debutant in the hospitality sector, Chris Burch had to partner with an experienced hotelier who would handle some technical bits regarding hotel management. He settled on hotelier James McBride and together managed to finalize the purchase of Nihiwatu in 2012. The resort that is situated in Sumba Island had to be upgraded to its current status. To achieve this, Chris and McBride had to make a $30 million investment towards renovation and upgrading.
The renovation and upgrading process took approximately three years, with the sensational Nihiwatu opening its doors in 2015. The hotel’s impact on the global hospitality sector was more of instant since it took the world less than a year to appreciate its uniqueness and only about a year for Travel + Leisure to name it as the best hotel in the world. Related article on forbes.com.
What Chris Makes of Nihiwatu
Even though he is not new to successful investment endeavors, Chris Burch was overwhelmed by the success rate he got with Nihiwatu especially given that he was new in the industry. He once told Business Jet Traveler that he understands that many investments fall short of investors’ expectations, but in this case, Nihiwatu had sufficiently met and even surpassed his expectations. That is a rare occurrence in business according to him. Additional article to read on businessinsider.com.
At the same interview, Chris Burch made revelations as of why he decided to put his money in Nihiwatu. First and foremost, he saw the resort as a good chance for him to utilize and build something unique; something that he could not manage to build elsewhere. Secondly, he wanted to build something that would help his children as well as go the extra mile to impacting positively on the community. True to his intentions, Nihiwatu has turned out to be the main source of livelihood for people living in Sumba Island. On top of uplifting people’s lives through creating job opportunities, the hotel also engages in philanthropy.
Chris Burch biggest contribution in the fashion sector was in the launching of Tory Burch and C. Wonder- two fashion retail brands that are recognized the world over. He is the CEO of Burch Creative Capital, through which he has made investments in not less than ten industries.
Learn more about his various investments, check on this.
Chris is now in his mid-60s and at the peak of his investment career. His entry in the hospitality sector signifies that he is not stopping anytime soon. For update on his recent timeline activities, hop over to crunchbase.com
For his latest cool offering to the market visit https://www.inc.com/magazine/201106/chris-burchs-latest-cool-company.html