Fusion & Acquisition

🏛 Under the leadership of Laurent Kleitman, named General Manager one year ago, Mandarin Oriental reveals a strategy to double its portfolio over the next decade, focusing on expansion in major capitals, the Middle East, Japan, and North America. The luxury hotel group aims to maintain unparalleled quality and service, embodying sustainable luxury principles with continual innovation in customer experience. The strategy, 'Fans of the Exceptional, Every Day, Everywhere,' sets their direction for the coming years.

🌍 FairMoove acquired eco-tourism accommodation specialist We Go GreenR and restaurant environmental impact reducer FiG. These additions in 2023 bolster FairMoove's service division for sustainable tourism practices. Betterfly Tourism, which joined FairMoove in 2023 and has been advising on environmental sustainability since 2011, will manage the new startups. FairMoove, founded in 2021, aims to drive collective action towards positive tourism impact.

⚽ LVMH, via Agache holding and the Arnault family, is set to acquire about 55% of Paris FC shares, with plans to buy an additional 30% from club president Pierre Ferracci in 2027. Red Bull holds approximately 15%. Paris FC, founded in 1972 and currently leading Ligue 2, has less fame than Paris Saint-Germain. LVMH recently signed a 10-year sponsorship deal with Formula 1 worth an estimated $1 billion, after Rolex, and sponsored the Paris summer Olympics and Paralympics.

🏨 Dayuse, a daytime hotel experience provider, has announced MBO+ as its new majority shareholder. Historical investors, Eurazeo and Partech, along with the first shareholders, have exited the firm. Dayuse, under the guidance of founder and CEO David Lebée, plans to accelerate growth and expand internationally, particularly in Asia and Europe. They intend to execute external growth operations and continue technological optimization without disclosing the investment amount.

💸 Moment, a company specializing in in-flight entertainment and digital services, has acquired Airfree, a French e-commerce expert. Moment, connected to over 350 duty-free shops worldwide, allows passengers to order products delivered on board, at the airport, or to their homes. This acquisition aims to enhance passenger experience and generate additional revenue for airlines. Moment plans to extend this versatile technology to other sectors, including rail and maritime. Tanguy Morel, CEO of Moment, emphasizes the technological advancement in e-commerce and marketplaces, aiming to meet client needs.

🏁 LVMH and Formula 1 announce an unprecedented partnership set to launch at the beginning of next season amidst the sport's soaring popularity and cultural relevance. The collaboration aims to blend thrilling sports and luxurious lifestyle, offering unparalleled experiences for enthusiasts. Further details on the partnership to be revealed in early 2025. Liberty Media CEO Greg Maffei highlights shared values of creativity and innovation between the brands.

🚀 Joby Aviation secured a $500 million investment from Toyota Motor Corporation, bringing Toyota's total commitment to $894 million. The funds aim to support certification and commercial production of Joby's electric air taxi, designed to carry one pilot and four passengers at speeds up to 320 km/h. Joby plans its first flights in Dubai by 2026, where a trip from Dubai International Airport to Palm Jumeirah is expected to take 10 minutes, a significant decrease from the current 45-minute car journey. With this latest funding, Joby's total raised nears $3 billion from investors including Delta Air Lines, SK Telecom, Uber, and Baillie Gifford. The company is progressing towards certification, aiming for test operations in 2025, and has partnered with Skyports to develop four vertiport sites in Dubai.

📌 RoomRaccoon, a Netherlands-based cloud hotel management software, acquired Lobbi PMS, a Belgian software provider for small and medium-sized hotels, on October 7, 2024. The acquisition adds over 300 establishments in the Benelux region to RoomRaccoon's clientele and is expected to strengthen its market presence. The Lobbi team will join RoomRaccoon, ensuring a smooth transition for clients. This follows RoomRaccoon's successful acquisition of Ireland-based iHotelligence in December 2023. RoomRaccoon, founded in 2017, was a finalist at the 2024 Hotel Tech Awards.

🎮 Nintendo opened its museum in Kyoto, Japan, showcasing 135 years of history on October 2. Housed in the former Hanafuda and Karuta playing card factory, the Nintendo Museum features two floors of exhibits including all consoles and classic video games, interactive gaming rooms for titles like Legend of Zelda and MarioKart, and the history from playing cards to the Switch console. Due to high demand, it's fully booked until November, and future visitors must register and be selected to visit.

🏠 Sofitel Residences Downtown Dubai, celebrating Sofitel's 60th anniversary, offers 6 penthouses and 64 high-end residences near Burj Khalifa and Dubai Mall. Amenities include a fitness center, cinema, and pool, plus concierge and valet services. Developed by Azha Properties and Accor One Living, with sales starting at 2.1 million AED by Dubai Sotheby’s International Realty, the project aims to redefine luxury living in Dubai by the end of 2026.