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WhyHotel and BFY Capital Form Strategic Partnership Ahead of Natural Products Expo East 2018
Partnership to drive awareness of "better for you" consumer brands across the WhyHotel portfolio; kicking off with This Bar Saves Lives
"Our partnership with WhyHotel is a unique opportunity to surprise and delight WhyHotel's guests with amazingly healthy products. Too often travelers are faced with limited food and beverage options, and we're determined to change that," said Richard Nespola, Jr., Founding Managing Member of BFY Capital and Working Lab Capital. "Through this partnership, we have a chance to introduce "better for you" brands to guests, while at the same time enhancing their stay at WhyHotel."
At launch, BFY Capital partner brands will be placed in WhyHotel units free-of-charge to guests. Guests will be provided with a unique promo code to purchase a brand's products online or through a preferred channel. The goal is to create a frictionless brand discovery platform across WhyHotel's portfolio of properties with high levels of reporting transparency and metrics on brand impressions, consumer feedback and purchase conversion. Over time, the partnership plans to evolve with more options for guests and brands alike.
BFY Capital, which launched earlier this year, provides highly customized term loans of $1M to $5M to emerging "better for you" consumer brands as a complement to equity in funding rounds, between funding rounds or as a bridge to M&A. Specifically, BFY Capital offers brands and their earliest investors a financing mechanism for maintaining flexibility and upside with less dilution. BFY Capital is a subsidiary of Working Lab Capital ("WLC") (http://www.workinglabcapital.com/
"Our partnership with BFY Capital is an exciting step toward innovating our in-room amenities package to better service our guests and provide them with healthier options during their stay. This allows us to truly create 'a place like home,'" says Bao Vuong, President and Co-founder of WhyHotel. "Our brand specializes in offering a fresh take on hospitality—
This Bar Saves Lives is a delicious snack brand with an incredible social impact. Founded by Kristen Bell, Ryan Devlin, Todd Grinnell and Ravi Patel and portfolio company of Working Lab Capital, This Bar Saves Lives provides life-saving food aid to children fighting malnutrition around the world. Its snack bars contain premium ingredients, and are non-GMO, gluten free and Kosher. By the beginning of 2019, their customers will have donated more than 10 million life-saving packets of food aid to children in need (https://www.thisbarsaveslives.com/
"We are thrilled to be the launch brand of this awesome partnership with WhyHotel," says Ryan Devlin, co-founder of This Bar Saves Lives. "WhyHotel and BFY Capital are innovative brands who are changing their respective industries, and it makes sense for us to join forces. We see a ton of potential to introduce guests to our delicious bars while also enhancing our impact through WhyHotel's expanding presence nationwide."
WhyHotel operates 100+ room pop-up hotels in new, multifamily apartments during lease-up. The company takes the vacant units that exist when a large high-rise apartment building completes construction and adds a modern hospitality service to turn the building's inherent vacancy into a temporary, 24/7 on-site staffed luxury hotel.
To learn more about partnership opportunities, please contact BFY Capital at firstname.lastname@example.org (about:blank)
About WhyHotel (http://www.whyhotel.com/)
Uncomplicated. Innovative. Hospitality. WhyHotel operates 100 to 250 room pop-up hotels with 24/7 onsite staff in newly built, luxury apartment buildings. WhyHotel's concept provides developers with a new way to utilize units during lease-up and provides tourists/guests with a new way to travel.
About BFY Capital (http://www.bfycap.com/)
Built by operators, for operators - BFY Capital provides consumer brands with bespoke growth capital in the form of highly structured term debt. BFY Capital helps catalyze the conversion of hard earned potential energy into kinetic energy – accelerating enterprise value creation without the offset of significant dilution to founding teams and early investors alike.
About This Bar Saves Lives (http://www.thisbarsaveslives.com/)
This Bar Saves Lives is a delicious snack bar brand, and every purchase gives life-saving food aid to a child with malnutrition. Co-founders Kristen Bell, Ryan Devlin, Todd Grinnell and Ravi Patel launched This Bar Saves Lives with a simple motto, "Buy a bar. Feed a child. We eat together." Through a unique impact model, This Bar Saves Lives has been able to revolutionize the way private companies drive change in the world. Products are available in retail stores nationwide, including Starbucks, Target, Whole Foods, and on Amazon.
N6A for WhyHotel