In 2012, Chris Burch together with James McBride bought a beach hostel that was owned by a couple that originated from New Jersey. The beach hostel was in the remote Sumba Island in Indonesia. A total of $30 million was used to renovate the hotel into a five-star resort that was named Nihiwatu in 2015. Nihiwatu has acquired a nickname “The Edge of Wilderness.’ check businessinsider.com
The name Nihiwatu means a motor stone, a rock that was named after formation of a rock on the side. The hotel has become a source of employment to the Indonesian locals. As part of giving back to the community, a portion of the hotel’s profit is channeled into the Sumba Foundation. It is a foundation that funds projects that aim at helping the Sumba community.
In 2016, Travel and Leisure voted this five-star hotel as the best hotel globally. In 2015, in an interview with Business Jet Traveler, Mr. Burch said that he had bought the hotel for his children. He mentioned that he has hopes that it is something that can be given back to the community. He was also impressed with what the hostel had turned to be since most times things turn out to be less than the set expectations. The five-star hotel has got 27 private villas in it including a private room for Mr. Burch and Raja Mendaka. Related article on wingsjournal.com.
Burch’s journey as an entrepreneur
Born in 1953, Christopher Burch has been an active entrepreneur and investor in several companies. Mr. Burch has a total of 40 years’ experience as an investor. He has taken part in the rise of more than 50 corporations and luxury brands. It has become possible through studying the behavior of consumers and coming up with innovations that have got a positive impact. He is the founder and the Chief Executive Officer of Burch Creative Capital. Chris is also the founder of Luxury Fashion Brand. Chris has served as the board member of two companies namely The Continuum Group and Guggenheim Capital. For timeline activity update, hit on crunchbase.com.
Mr. Burch began his career in 1976. At this time he was still an undergraduate student at Ithaca College. Burch made his first investment of $2,000 to start Eagle’s Eye together with his brother Bob. The business thrived to $165 million. They later sold it to Swire Group. Mr. Burch was among the first investors in Internet Capital Group. He has invested in several real estates both locally and internationally. Chris is part of the investors who have been involved in the development of luxury homes.
A must-read article on http://www.ceocfointerviews.com/interviews/ChrisBurch-BurchCreativeCapital17.htm