financeHotel Business··1 min·For: Owner, Investor, Ops, GM
Astound Ventures Launches $30M Fund for Hotel Innovation
Hospitality veterans Burt and Alex Cabañas, alongside Kirk Jones, have launched Astound Ventures to raise $30 million for operational innovations that improve hotel profit margins. Backed by industry insiders rather than institutional capital, the collaborative fund has already raised $8 million and backed 10 early-stage companies.
Key Takeaways
- 1Targets a $30M fund sourced entirely from industry operators and owners, with over $8M already raised.
- 2Focuses on boosting net unit margins through practical technologies, workflow tools, and operational products.
- 3Already completed 10 investments spanning energy management, mobile POS, and sustainable amenities.
Source: Hotel Business
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