This story originally appeared on Black Enterprise
Bay Street Capital Holdings founder William Huston was in the news recently after entrepreneur he said he invests in black travel.
Based on his side, Bay Street Capital, headquartered in California, is an “independent investment advisory, wealth management and financial planning firm.” Undertaking invests in real estate technology and luxury holiday homes.
Bay Street Capital Holdings began operations in 2018 as a call center for financial advisors after Huston met withinancial crisis when his father’s injury reduced his family’s income. They later switched to black-owned travel agencies after seeing how their working hours negatively impacted their employees. Since trading, the corporate has amassed $85 million in its portfolio.
During January 3 interview With Guardian, Huston revealed how the corporate has maintained its success despite Standard and Poor’s 500 exchange it fell to 26.7% in October 2022. He attributed all his achievements to how much black people spend annually on “recreational travel”. Huston told the publication, “Black travelers in America spend $109 billion a yr on recreational travel, and only $1 billion goes to Black-owned hotels.”
Because the discussion continued, Huston spoke about Bay Street Capital Holdings’ latest investment in the exclusive luxury vacation property Resthaven Properties and an app called Unified. Guardian describes how Unified helps social media influencers find their next ‘travel items’.
Huston claimed that while the corporate’s properties won’t be widely known like Marriott or other places, after a number of years Bay Street Capital Holdings can be recognized for the hotels they own and support.
He said: “We desired to add a layer of intentionality to the business. We’ll never compete with Marriott, but in five years people will learn about us. And they’re going to know the names of some of the opposite hotels that we do not own but support, and that has an equally big impact.”