Brand New Public Tourism Fund Launches in Paris

By On 14th October 2015

Paris, 13th October 2015

Horwath HTL France, part of the world’s number one hotel, tourism and leisure consulting brand have helped the French public investment group, Bpifrance, in the structuring of the new “France Investissement Tourisme” fund. The fund was launched on October 8th 2015 during the annual Tourism Convention organized by the French Ministry of Foreign Affairs.

François Victor and Charlotte Fougère from Horwath HTL France were engaged to:

  • Identify the areas with specific development opportunities in the field tourism and leisure for which a specific fund could be allocated.
  • Identify the financial needs of operators and investors in the sector looking specifically at innovation, change of scale, transformation and international development.

This new fund is the channel for Bpifrance’s to broaden its exposure in a sector generating employment that has cross border and international potential.

Francois Victor said, “We were very happy to work on the fund, as it fits within our core competencies and passion at Horwath HTL. Anything that can bring the attention of the finance industry to the sector is good, especially when the fund will stimulate restructuring, innovation and competitiveness of tourism and leisure firms.

Operational since October 8th 2015, With a 100 M€ total budget and a 50 M€ first stage budget, the fund’s mission is to invest as a minority shareholder 0,5 M€ to 5 M€ amounts in equity or quasi equity in tourism and leisure firms. In a second phase, it will then be open to third party subscribers, especially to tourism and leisure professionals wishing to actively participate in the field’s evolution.

About Bpifrance

Established by a law of December 30, 2012, Bpifrance is a public investment group designed to serve companies and their growth, as the trusted partner of French businesses. In the area of territorial economic development, Bpifrance benefits from the strength of its two shareholders, the French State and the Deposits and Consignments Fund (Caisse des Dépôts). It has become an essential tool in boosting the economy, restoring competitiveness, reinforcing business investments, and thus participating in the country’s industrial revival. Bpifrance participates through its own equity or through the management of a third-party account. Its purpose is to become involved in market segments and companies that suffer from a partial or total absence of other financial players.

About Horwath HTL

Horwath HTL (Hotels Tourism and Leisure) is the world’s largest and most experienced Hotel, tourism and leisure-consulting brand, with over 50 offices in 39 countries. Horwath HTL provides unequalled expertise for clients around the world, always providing the highest level of service to our clients. Over the last 25 years, Horwath HTL has gained extensive market knowledge through involvement in thousands of projects.

Horwath HTL is a member of Crowe Horwath International, a professional association of accounting and management consulting firms founded in New York in 1915. Crowe Horwath International is currently ranked among the top ten international professional service groups with offices in close to 586 cities in 108 countries.

If you have any questions, please contact:
James Chappell, Global Business Director at or
Francois Victor, Associate Director at Horwath HTL, France on

About The Author

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François Victor


Diplômé de l’école HEC, licencié en sociologie, il a d’abord travaillé comme économiste au BIPE. Après avoir développé une activité de consultant indépendant dans le tourisme, il a rejoint Détente Consultants en tant que consultant senior en 1999. En 2006, il rejoint le cabinet Horwath HTL France en tant que Directeur et Associé. Il intervient notamment dans trois domaines :

  • Le marketing des destination touristiques, à l’échelle de pays, de région ou de stations, dans une démarche associant réflexion stratégique et usage des technologies de l'e-tourisme
  • L’analyse des impacts économiques liés au phénomène touristique et la conception/mise en œuvre de systèmes d’observation économique.
  • L’évaluation des politiques publiques du tourisme.
  • English

    François Victor holds a master’s degree from HEC Paris and a Bachelor in Sociology. After working as a consultant for BIPE, then as an independent consultant, François joined Détente consultants in 1999. In 2006, he joined the office of Horwath HTL in Paris as director and partner. He has more than 25 year experience in the tourism sector and he has conducted for than 100 consulting assignments at international, national or local level. As a specialist of destination management, he has developed a strong expertise in certain areas:

  • Tourism Destination marketing at the scale of countries, regions or resorts, including market research strategic positioning and branding and operational planning
  • E-tourism (information technologies applied to tourism businesses)
  • The evaluation of the economic impact of tourism and the development/implementation of observation tools
  • François is also a recognized expert of tourism and assessment of tourism public policies.

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