This story originally appeared on Black enterprise
Bay Street Capital Holdings founder William Huston has been in the news recently following the australiabusinessblog.com shared that he invested in black travel.
According to his PlaceBased in California, Bay Street Capital is an “independent investment advisory, wealth management and financial planning firm.” Company invests in real estate technology and luxury vacation homes.
Bay Street Capital Holdings started as a call center for financial advisors in 2018 after Huston met with affinancial crisis when his father’s injury reduced his family income. They would later switch to Black travel agents, after seeing how the work hours negatively affected their employees. Since the pivot, the company has accumulated $85 million in its portfolio.
During a January 3 interview of the protector, Huston revealed how the company maintained its success despite the Standard and Poor’s 500 stock market dropped to 26.7% in October 2022. He attributed all of his achievements to how much black people spend annually on “leisure travel.” Huston told the publication, “Black travelers in America spend $109 billion annually on vacation travel, and only $1 billion goes to black-owned hotels.”
Later in the discussion, Huston spoke about Bay Street Capital Holdings’ latest investments in an exclusive luxury vacation rental property, Resthaven Properties, and an app called Unified. The protector describes how Unified helps social media influencers find their next “travel properties.”
Huston claimed that while the company’s properties may not be widely known like the Marriott or other places, after a few years Bay Street Capital Holdings will be recognized for the hotels they own and those they support.
He said: “We wanted to add a layer of intentionality to the business. We will never compete with Marriott, but in five years people will know us. And they will know the names of some of the other hotels that we don’t own, but we support, and that’s just as impactful.”