Former chief executive of Cheapflights parent Momondo Group Hugo Burge has established a new venture to support the modern arts and crafts movement.
Burge, who left Momondo after 17 years last year following its $550 million buyout by Booking.com parent Priceline, published an update on his plans on LinkedIn yesterday.
Since exiting Momondo, Burge has been spending much of his time on the restoration of Marchmont House in the Scottish Borders.
Burge said he plans to make the property a home for “makers and creators” and it will be at the heart of Marchmont Ventures an investment vehicle that will support and nurture sustainable arts and crafts firms.
It has been set up with former Momondo colleague Alan Martin and Burge said it “will have oversight of all our activities, pursuits and investments”.
Burge said his “purpose is to support creativity”.
He added: “I love the buzz of creativity and the energy it generates in solving questions, but the practical part of my brain wants it create something sustainable – something lasting, something with purpose.
“I also love the impact that business can make in the world. Corporations have a huge impact on the vast majority of human experience and society.
“A company has the power to make life better, more sustainable and more empowering – that is exciting.”
Burge will continue to be involved in HOWZAT Partners, the early-stage investment firm he established with David Soskin in 2006.
But he said he will not be involved day to day. HOWZAT is on its third fund having made over 60 investments, including many in digital travel.
Later this month Burge’s contribution to the travel industry will be marked when he is inducted into the British Travel & Hospitality Hall of Fame.
The annual event, which is run by Travel Weekly parent the Jacobs Media Group, will be held at the Dorchester hotel in London on April 30.