Chris Burch Demonstrates His Investment Prowess Yet Again, But This Time in the Hospitality Industry
Chris Burch recently tried his hands on the hospitality industry and going by his initial success; the chances are that he will conquer that industry the same way he conquered the fashion industry. After teaming up with James McBride, his hotelier friend, to acquire a beach hotel in Indonesia in 2012, it was crystal clear that Chris was ready to take his entrepreneurial prowess to another industry. An American couple from New Jersey owned the hotel that is located on the island of Sumba.
The Renovation and Opening Process
The hotel cost Chris and James quite a fortune for renovation, with the figure estimated at around $30 million. Upon completion, the hotel started its operations as a five-star luxury beach resort in 2015 under the name Nihiwatu. Nihiwatu is an Indonesian name meaning a mortal stone. As new as it is, Nihiwatu has already taken the lead in the global hospitality industry. Last year, the hotel was ranked top globally by Travel + Leisure. Due to its location in the Sumba Island, Nihiwatu has been nicknamed as The Edge of Wilderness.
Nihiwatu is indisputably the best hotel in the world; its infrastructure is unmatched in the industry. Chris Burch has a private home within the resort called the Raja Mendaka that has the main house, a private plunge pool, and four other villas. Raja Mendaka is just one among 27 such villas, with all of them available for guests booking. That’s not all; the resort has a couple of treehouses that are both two-storied, each with two bedrooms, a balcony, and a bathroom. More of this on businessinsider.com
Impact to its Immediate Community
The greatest beneficiary of Nihiwatu is Sumba’s local community. On top of opening up the remote island to international visitors, the resort has grown to become the island’s leading employer. To add onto that, Nihiwatu dedicates a certain percentage of its profits to a local philanthropic initiative called the Sumba Foundation. Another notable component of the hotel is the operational wellness center that has qualified yoga trainers. These trainers are available for both group and private yoga training sessions.
- Christopher Burch is a man of many edges, with investments in several diverse industries. He is mostly known due to his company, Burch Creative Capital, of which he is the current CEO. Chris, however, has investments in industries such as technology and finance. Head over to this important site.
Chris is one of the founders of Tory Burch and C. Wonder, two retail fashion brands that have taken the world fashion industry by storm. Burch is in his early 60s and lives in Miami, see related story on architecturaldigest.com
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