As part of our Business Class section, Weaving spoke to Real Business about his lifestyle as a hospitality investor and how he’s diversified his portfolio as time has passed.
The managing partner of Foxhole Holdings, it was perhaps foretold that Weaving would go on to become a hospitality investor. His father was a hotelier, which saw Weaving work in the hotel kitchen washing dishes at the age of ten.
Indeed, his portfolio as a hospitality investor has seen him come to own key venues including STK and Ocean Beach Club in Ibiza, Toy Room London and more.
Through Foxhole Holdings, Weaving has expanded beyond the hospitality investor route and into fashion, ecommerce, beauty and beverages, the latter of which includes the likes of Zing Vodka and Union Cider.
Here’s what Weaving had to say about his lifestyle.
(1) Were you born into wealth or has your success been self-made?
I am the son of a hotelier from the UK, always had a great life but worked very hard to make it happen! However, I was let loose on my own from the age of 16 and have built from zero with my own hands without taking anything from anybody, so completely self-made.
(2) How much did your first job pay?
My first job when I was ten was washing dishes in my father’s hotel for seven pence per hour!
(3) You have achieved success as a hospitality investor in the venture capital sector, investing across sectors with clubs, restaurants, and more. Which has been the most lucrative market for you and why?
Foxhole Holdings focuses on many different sectors and very sporadic deals. We love the hospitality sector and have great success, it’s a great catalyst for other opportunities.
However, we have a real strong focus on ecommerce in the Middle East and Europe now. We’ve launched a new ladies fast fashion site called www.isawitfirst.com based out of Dubai covering the Middle East and the UK covering Europe and English-speaking countries. Both sites launch at the end of May.
We believe this sector is strong and are moving into it aggressively.
(4) What has business ownership and funding taught you about money management?
Strategically pick your partners, don’t be greedy, respect different cultures, always stay humble and work hard with a focus on detail. Sometimes you must be selfish, but keep learning and adapting.
(5) Tell us about your smartest investments
We have done a lot of mega deals that have all been smart in their own way, however its so nice when they just go to plan. Some are quick hits and some are long term, I can’t pick one in particular and say it is the smartest.
(6) Do you get more satisfaction from spending or saving your money?
I definitely get more satisfaction from spending money than saving, life is for living otherwise what’s the point?!
(7) What’s the most exciting element of running a business?
The most exciting element for me is the traveling and doing business across the globe, it keeps life interesting.
(8) What are your most expensive hobbies?
My most expensive hobbies are eating out; I love great food and wine!
(9) Most prized possession?
My most prized possession is my wife, she is a great support and very clever, she keeps me in line, she helps me out a lot.
(10) Do you have a favourite luxury brand?
Range Rover – I have three of them; Ibiza, Dubai and the UK.
(11) Where has your most luxurious holiday taken you?
I don’t like holidays, I get bored. I normally just travel where I can work. However, if I can squeeze a few days I do love Labua State Tower in Bangkok and I am trying to also set up some business there so I can get be there more often.
(12) Excluding property, what has been your most expensive purchase?
Business-wise, obviously, we have obviously made a lot of expensive acquisitions. Personally I don’t like watches and jewellery etc, however, let’s just say over the years there has been a lot spent on champagne and luxury travel!