Philanthropic investing for destination preservation

Philanthropic investing for destination preservation

Impact Investing: How We Can Save Historic Buildings

The Cultura Manor hotel in Quito, Ecuador has won three awards before even opening, with more to come. Kit Carstens helped fund the restoration of this historic mansion, and now he’s getting bought out. Exactly as planned.

Success in the art of Philanthropic Investing (PI) takes perseverance! Working in conjunction with the then Center for Sustainable Destinations at National Geographic, he coined the term (also known as “venture philanthropy”) in 2009 to form a group of philanthropists who believed in principles of quality travel development through investing, as distinguished from merely donating to local projects, which can be less effective.

This is an excerpt from an article first published by Destination Stewardship Center. Read the original article here: Philanthropic investing for destination preservation

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