Hotelscene gets new investor
Private equity group, Bestport Ventures, has acquired a 33% stake in specialist hotel and conference booking agent Hotelscene.
In a leveraged re-capitalisation of the business, Bestport has made the investment with further funds provided by the management and by HSBC.
The current management team will remain in place with Chris Needham responsible for business strategy as well as some key accounts.
Nick Foot remains as managing director responsible for all day-to-day activities and Ian Hamilton, previously a non-executive director, takes on an executive role as finance director.
Ole Bettum, managing partner of Bestport Ventures, said: “Hotelscene is a highly professional and innovative provider of travel booking services to corporate customers looking to increase compliance with corporate travel policy and reduce costs.
“We are delighted to lead this re-capitalisation, which will facilitate a re-alignment of shareholder interests and ensure the continued rapid growth of the company.”
Hotelscene managing director Nick Foot added: “We were looking for an equity partner with solid sector experience and a collegiate, entrepreneurial approach and, as such, we are extremely pleased to be partnering with Bestport.”
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Airlines suspend Madagascar services following unrest and army revolt
Qatar Airways offers flexible payment options for European travellers
TAP Air Portugal to operate 29 flights due to strike on December 11
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Airbnb eyes a loyalty program but details remain under wraps