Fusion & Acquisition

💵 French Tech startups stabilized with €4.26 billion raised in the first half of 2024, matching the previous year’s figure for the same period, but falling short of the €8.39 billion high in 2022's first half. France remains Europe's second most attractive market for venture capital. Investment trends show a 54% increase in funding rounds over €100 million, reaching €1.5 billion, while mid-sized rounds fell by over 20%. Smaller rounds under €10 million grew by 3% in amount and 15% in number. The French Tech sector created over 1.3 million jobs in 2024, a 200,000 job increase from 2023, and startup revenues rose by 27%. Despite economic uncertainty, 80% of startups aim for profitability within three years.

🎬 In the 8th episode of "Tomate," tech and travel professionals discuss "La Belle Epoque" by Nicolas Bedos and "San Junipero" (S03 Ep04) from "Black Mirror." Ange Pozzo Di Borgo, responsible for Hauts-de-France Innovation Tourism, joins the conversation, focusing on time and space travel and the role of emotion and theatricality in creating memorable travel experiences. "La Belle Epoque" features a disillusioned man in his sixties offered a time-travel experience by a theatrical historical reenactment company, while "San Junipero" explores a deep connection between two women transcending space and time.

🏨 Zucchetti Group, an Italian company, acquired the French hotel technology brand Reservit. Zucchetti had previously acquired Vertical Booking in 2017, Lybra Tech in 2020, Pay My Table in 2021, and Vega (Quatuhore group) in 2023. Reservit is recognized as the number one reservation software in France, equipping numerous voluntary French hotel chains. However, it has seen some of these chains depart over recent years.

📍 TNMT highlights a decade of venture capital investments in travel and mobility tech. Pre-2020 saw rapid market growth, with sector leaders like rideshare and electric bikes/scooters dominating. However, post-2020 pandemic, venture capital confidence waned, questioning the unsustainable hypergrowth model. TNMT's infographic focuses on top-funded companies in aerial mobility, online travel, hospitality, and ground transportation, reflecting the investment decline over the past three years.

📈 Barrière Group, under the leadership of Alexandre Barrière and Joy Desseigne-Barrière with CEO Grégory Rabuel, continues its rejuvenation with a significant renovation program and a partial management overhaul. The group acquired restaurant chain Loulou with 4 establishments in Paris, Ramatuelle, Roquebrune-Cap-Martin, and Val d’Isère, stepping into "eatentertainment." A November 2023 partnership with Beefbar at Hôtel Barrière Le Carl Gustaf Saint-Barth was previously announced. Soon, Loulou will open at Barrière Les Neiges in Courchevel. The transaction amount remains undisclosed.

🏖️ Playa Hotels & Resorts N.V., a luxury resort operator, agrees to sell Jewel Palm Beach for $68 million, opened two years ago. The buyer's identity remains undisclosed. Playa Hotels manages 25 properties totaling 9,127 rooms across Mexico, Jamaica, and the Dominican Republic. The deal is expected to close in Q3 2024, subject to customary closing conditions.

💸 Booking's division, Booking For Business, known for catering to business travelers, is gaining traction in the professional travel sector. Over 4 years, a noticeable shift has been observed as professionals increasingly opt for apartments.

📚 FinMont's study reveals 67% of travelers never read booking conditions. Despite the paradoxical frustration for lack of legal protection, only 10% of European travelers admit difficulties in getting refunds or cancellations. Meanwhile, a third of them (33%) abandon reservations due to hidden fees. The French frauds authority highlighted common issues in the travel industry, suggesting transparency as critical for trust in online transactions. The study also notes the complexity and desire for simpler payment options, like Apple Pay, for 20% of travelers.

📌 Salter Brothers, managed by CEO Rahul Ghai, after 10 years investing in Australian hotels since its inception in 2014, now expands into Asia, notably Japan, focusing on business hotels and ryokan. With nearly AUD 4 billion assets under management, about 85% in real estate, the firm leverages institutional capital and targets value-added transactions, including rebranding and potential repositioning to enhance performance for clients. Founders Paul and Rob Salter bring expertise in hospitality, corporate advisory, and asset allocation.

🏨 Les Aubergistes Lyonnais, founded by Loïc Renart and owned by Renart-Auroux family since 1966, expanded with Hôtel Simplon and Hôtel Phénix. Based in Lyon's historic districts, the hotels maintain high occupancy rates. The group, France's first mission-driven hotel company, is led by Loïc Renart, employs 75 staff, and generated €6.9 million in revenue last fiscal year. In 2009, Esprit de France, part of Compagnie Lebon, joined to enhance growth, leveraging their 13 Paris hotels and properties in Aix-en-Provence and Lens.