News Briefs

Thayer Ventures, a venture capital firm focused on technology innovation in travel and hospitality, and Derive Ventures, an early-stage investment firm dedicated to travel and hospitality, announced the formation of Thayer Investment Partners (TIP). The new platform will leverage the experience of both firm’s founding members to drive value for industry partners and invest in a new generation of innovative start-up companies. Thayer Ventures’ Chris Hemmeter and Derive’s founders Tyler Carrico and Mike Scott will serve as Managing Partners for the new platform, which expects to launch a new investment fund in the coming weeks. Lee Pillsbury, founder of Thayer Lodging Group, sold to Brookfield in 2014, and Managing Director of Thayer Ventures Funds, will continue his role as Managing Director. Previous funds launched by Thayer Ventures and Derive Ventures, respectively, will continue to be managed as they have been since inception; new funds will be managed under the combined TIP leadership. 

Chris Hemmeter, Co-Founder and Managing Partner at Thayer Ventures and Managing Partner at TIP, said: “This is a transformative moment for Thayer’s portfolio companies, for our industry partners and for investors. Thayer and Derive are already the leading early-stage investors in travel and hospitality, together we are best positioned to capitalize on the next wave of innovation and leverage an expanded team to deliver maximum value to our industry partners. We are set to tackle a new era of innovation in travel, which includes the transformative development of AI, a radically rethought and reimagined booking funnel and the need to break down silos that continue to hold back progress toward seamless customer journeys and business efficiencies for travel providers.”

Hemmeter concluded, “We’re delighted to welcome back Tyler Carrico, who launched his investment career at Thayer Ventures 6 years ago, and to welcome his co-founder at Derive, Mike Scott, who brings travel investing experience from KSL Capital Partners. By adding Derive’s capabilities to Thayer Ventures, we deepen and expand Thayer’s reach even further through the new TIP platform. We are excited to build out the new platform with a robust team and unmatched record of investment success.”

Founded in 2009, Thayer Ventures invests in early-stage travel and hospitality. The firm has built the preeminent venture platform for entrepreneurs to leverage unequaled counsel from our experienced team, strategic LPs, industry-leading advisors and the entire Thayer portfolio ecosystem.

Mike Scott, Managing Partner at TIP, said: “We are thrilled to team up with Thayer Ventures to launch Thayer Investment Partners. The combined platform will bring an unmatched level of investing experience and strategic support to advance innovation in the travel industry. It will also reinforce our differentiated sector focused approach to producing best-in-class returns and providing the highest level of service to our industry partners.”

Derive Ventures, founded in 2022, is an early-stage venture fund investing in the next generation of hospitality, experiences and real estate; its mission is to bridge the gap between technology and travel by supporting entrepreneurs shaping the future.

Lee Pillsbury added, “I am happy to continue to serve Thayer Ventures and the industry to help accelerate even further the bounds of innovation for Strategic Partners and entrepreneurial early stage start-ups alike. The new Thayer Investment Partners platform represents the next evolution of our original vision for transforming travel technology into in an engine of growth and efficiency for hotel owners, brands and investors across the industry.”

Shift4 has acquired a majority stake in Vectron Systems AG, a European suppliers of point-of-sale (POS) systems to the restaurant and hospitality verticals. 

Based in Germany, Vectron has 65,000 POS locations across Europe, representing. Shift4 is expected to acquire additional ownership of Vectron through a public tender offer that is expected to conclude within the next month, with a de-listing and formal integration process to occur shortly thereafter.

The acquisition is expected to provide Shift4 with an expansive customer footprint across Europe as well as a distribution network of ~300 POS resellers. As a result of the acquisition, Shift4 believes it will be able to add its integrated payment services to current Vectron customers and products, while also empowering the sales force with a compelling all-in-one POS and payments solution unrivaled in Europe.

“Shift4 was at the forefront of the convergence between software and payments in the restaurant and hospitality verticals in the US. We see an incredible amount of demand for a similar all-in-one solution across Europe,” states Shift4 CEO Jared Isaacman. “With our integrated payments and SkyTab offering, we believe we have the best solution at the right price point. Vectron will provide valuable local expertise, infrastructure, and the distribution necessary to meet the demand. This acquisition is right out of the Shift4 playbook – enabling us to unlock synergies, expand our distribution, and monetize payments for a large existing install base.”

Completes Revel Systems Acquistion

In addition to the acquisition of Vectron, Shift4 has also completed its previously announced acquisition of Revel Systems. Revel has over 18,000 merchant locations across the United States and internationally which Shift4 estimates represents a $17B+ payment opportunity. Revel also has a direct sales and dealer distribution network which Shift4 believes can be leveraged to accelerate SkyTab distribution both domestically and abroad. 

Shift4 has signed a definitive arrangement agreement to acquire Givex Corp., a global provider of gift cards, loyalty programs and point-of-sale solutions. 

The Arrangement Agreement is subject to customary closing conditions and the transaction is expected to be completed in the fourth quarter of this year. 

With across more than 100 countries, Givex serves a wide range of businesses in various industries, including 7-Eleven, Wendy’s, Best Western, Texas Roadhouse. 

The company offers robust gift card and e-gift solutions as well as customizable loyalty programs, and a point-of-sale (POS) system for various business types, among other value-added services.

 “Givex has a considerable footprint around the world which will dramatically increase Shift4’s overall customer base,” states Shift4 President Taylor Lauber. “At the same time, their gift card and loyalty solutions are second to none and will add significant value for our current customers, creating stickier relationships andh 130,000+ active locations enhancing our overall value proposition. Similar to other deals we have recently completed, this acquisition aligns perfectly with how we like to deploy capital – adding blue-chip merchants at a low customer acquisition cost while delivering additional benefits to our customer base.” 

“The Givex team looks forward to joining the Shift4 family and bring our enterprise gift card capabilities and loyalty programs to hundreds of thousands of new customers,” says Don Gray, CEO of Givex. “By combining Shift4’s end-to-end payment solution with our value-added engagement services, we can deliver an unparalleled package to both of our customer bases.”  

Mark Shambura has joined Panera Bread as Chief Marketing Officer. Shambura will lead all aspects of marketing at Panera, including Brand Building, Digital & Loyalty, Product Strategy & Consumer Insights. An accomplished marketing leader with broad expertise in the restaurant industry, Mr. Shambura has previously held marketing leadership roles during pivotal growth periods for top brands including Chipotle, MOD Pizza, and most recently Papa Johns.

"Mark brings an impressive background building brands and leading marketing teams for fast-casual restaurants, and we’re thrilled to welcome him to Panera Bread,” said José Alberto Dueñas, Chief Executive Officer. “As Panera continues to evolve our brand, guided by listening to our guests, Mark’s depth of experience and ability will help drive our growth as a brand that serves great food you feel good about eating.”

Shambura previously served as CMO at Papa Johns, where he led a revitalization of the brand by enhancing its iconic “Better Ingredients, Better Pizza” platform, and developing a more modern, innovative omnichannel approach to transform how Papa Johns appealed to both new and loyal consumers. As Executive Director at Chipotle, Mr. Shambura guided the marketing function through periods of both sustained growth and transition, providing leadership over brand strategy, advertising, digital, social, events/sponsorships, promotions, and field marketing, including playing a key role in spearheading its “Real Ingredients” brand strategy.

“I’m proud to join the Panera Bread team and excited to build on the momentum of the brand's transformation as it continues to evolve in service of our guests,” Mr. Shambura said. “Panera propelled and cemented its position at the top of the fast casual restaurant segment through its promise of high-quality ingredients and freshly prepared food, and I’m thrilled to join a highly talented team to help shape its next chapter.”

Prior to his tenure in the restaurant industry, Mr. Shambura gained extensive marketing agency experience, working with a broad array of top global consumer brands for over a decade. Shambura will report directly to José Alberto Dueñas, Chief Executive Officer, and officially assumed the role of Chief Marketing Officer on July 29, 2024.

SH Hotels & Resorts, the hotel brand management company that operates 1 Hotels & Homes, Baccarat Hotels & Residences, and Treehouse Hotels, is pleased to announce the promotion of two key leaders within the company. Shadi Omeish has been appointed Vice President of Operations in North America, and Milton Sgarbi has assumed the responsibilities of Regional Vice President of Operations and Special Projects at 1 Hotel South Beach.

Omeish, an award-winning hospitality leader with over two decades of international experience, will oversee and collaborate closely with general managers and VP at SH Hotels’ properties across the U.S., Canada, and Mexico. The portfolio currently includes eight operating 1 Hotels as well as Baccarat Hotel & Residences New York, with Treehouse Hotel Silicon Valley set to open this year and several projects under development, including 1 Hotel Austin, 1 Hotel Seattle, and 1 Hotel & Homes San Miguel de Allende. A seasoned expert in luxury hospitality, Omeish has managed various SH Hotels & Resorts properties, consistently upholding the highest standards of operations and services. Since joining the company in 2016, he has served as General Manager at 1 Hotel South Beach and 1 Hotel West Hollywood, Area Managing Director West Coast, and most recently Regional Vice President West Coast.

“Shadi’s long tenure and contributions to the company are undeniable, and he has been an invaluable asset to the organization,” said Raul Leal, CEO of SH Hotels & Resorts. “His leadership and vision have been instrumental in driving the success of our properties on the West Coast. We are confident in his guidance through this period of growth for the company, ensuring our continued progress and innovation in new markets across North America.”

Sgarbi is a veteran of the industry with vast experience in hotel operations and new property openings. He reports directly to the CEO in his new role overseeing operations at 1 Hotel South Beach featuring 425 rooms, eight dining outlets, four pools, 600 linear feet of beachfront, a Bamford Spa, 14,000 sqft Anatomy Gym, Membership Club, 269 Branded Residences and two Homeowner Associations. He will also serve in a regional capacity over the immediate openings in Miami, including the upcoming Treehouse Hotel and Baccarat Hotel in Brickell, as well as other select hotels and projects in the future. Inspired by the vision of SH Hotels & Resorts Chairman Barry Sternlicht, Sgarbi collaborated on numerous projects across three continents, joining the company in 2016 with the opening of 1 Hotel South Beach, where he most recently served as VP of Operations.

“Milton's proven industry experience and profound understanding of each brand within the SH Hotels portfolio make him the perfect choice for this new role,” said Leal. “His knowledge of our brand values, combined with his commitment to excellence and ability to successfully launch and manage properties, will be crucial as we continue to expand. We look forward to his leadership in driving the success of our Miami operations and beyond.”

SH Hotels & Resorts is rapidly expanding across the Americas, Europe, the Middle East, and the Asia Pacific. In addition to its ten existing luxury, mission-driven 1 Hotel properties, the brand has several anticipated projects under development in Melbourne, Copenhagen, Seattle, Austin, Elounda Hills (Crete), Paris, San Miguel de Allende, Cabo, and Riyadh. Baccarat Hotels & Residences, known for its iconic, ultra-luxurious flagship in New York, is set to open new locations in Rome, Florence, Dubai, Riyadh, Brickell (Miami), and the Maldives. Following the success of Treehouse Hotel London, Treehouse Hotels will open properties in Silicon Valley and Manchester this year, offering guests a nostalgic experience filled with playful moments. Additional projects in Brickell (Miami), Adelaide, and Riyadh are also in the pipeline.