Saudi Arabia’s Public Investment Fund, the country's sovereign wealth arm, along with A&K Travel Group have invested $50 million in Habitas, an eco-minded, sustainable luxury hotel chain, according to Bloomberg.
Habitas currently operates six properties, which it calls homes, in Mexico, Saudi Arabia, Namibia and Morocco, with six more opening soon, its website says, including three more in Mexico and one in the U.S. It's Tulum property is considered its flagship and
According to Habitas, and reported by Bloomberg, the proceeds will be used to further global expansion. No valuation was disclosed, but Habitas said the current fundraising was in exchange for a minority stake. Habitas has now raised more than $85 million, Bloomberg reports.
Habitas, which began as event company, with early investors including former Uber CEO Travis Travis Kalanick and Starwood Capital CEO Sternlicht, states "We are a global home for a global community of like-minded people seeking connection, inspiration and a better future together. Our experience is powered by music, wellness, art, adventure, food and giving back. Through these powerful pillars, we craft magical worlds in which strangers become friends and friends become family."