Inspirato operates a luxury travel club offering subscription and travel services and reported roughly 12,000 members and about 12,700 active subscriptions. The company posted second-quarter revenue of $67.4M, down from $84.1M a year earlier, with travel revenue down 19.1% and subscription revenue down 30%. Net loss narrowed to $15.4M in the quarter from a $46.7M loss a year earlier, aided by the absence of a prior $30.1M non-cash impairment. Management is pursuing cost reductions including terminating underperforming leases (extinguishing a $41.2M lease liability and targeting ~$25M in annual lease savings) and three rounds of layoffs, most recently 15% of staff. Inspirato launched a high-end product, Inspirato Invited, with an entry fee above $150,000 and a two-year booking window with fixed nightly rates for ten years. The company also received a Nasdaq extension to regain compliance with market-value requirements through November 22, 2024. Inspirato operates a luxury vacation club that blends a traditional members-only model with peer-to-peer, Airbnb-style listings. The company charges a $17,500 initiation fee and $3,500 in annual dues. It reports just under 8,000 members—nearly double from July 2013—and a portfolio of 240 luxury homes across the U.S., Mexico, Europe and the Caribbean. Inspirato was founded in 2011 by Brent and Brad Handler and recently expanded via a merger with competitor Portico Club. The company has an AmEx partnership offering cardmembers $2,500 off initiation and $400 off annual dues. Inspirato has raised $70 million to date and is using new capital to accelerate growth. Inspirato is a membership-based luxury vacation club that combines exclusively operated high-end rentals with a peer-to-peer sourcing model. Members pay a $15,000 one-time fee and $2,500 annually for access to properties such as Tuscan villas and Napa cottages. Each property is operated exclusively by Inspirato for around four years and the company furnishes units and provides concierge service, linens, and other amenities to maintain a luxury experience. The company says it is renting hundreds of properties and is adding a new one every other day. Inspirato plans to add a seafaring yacht to its offerings next July. The business has attracted rapid venture interest and rising valuations, though the CEO declined to disclose hard revenue figures. The company is led by CEO Brent Handler, who previously co-founded Exclusive Resorts. Inspirato operates a luxury destination club that provides members leased access to a growing portfolio of high-end vacation homes and hotel suites at top global destinations. The company leases rather than owns properties to keep membership fees low, offer more than 50% off market rates, and enable rapid expansion. Since its January 2011 launch Inspirato doubled its portfolio to more than 100 properties and plans to add at least 180 new properties in 2012. Inspirato targets affluent travelers seeking value, flexibility and high service in luxury vacations. Growth has been funded by venture capital, including a recent $20 million investment from Institutional Venture Partners and a prior $17.5 million equity round led by Kleiner Perkins Caufield & Beyers. As part of the investment, IVP partner Todd Chaffee will join Inspirato’s board. Inspirato provides discounted luxury vacation access by long-term leasing of properties instead of purchasing them, allowing the company to avoid broker fees and pass savings to members. The company charges a one-time initiation fee of $15,000 and a $2,500 annual maintenance fee as its primary revenue model. Founders Brent and Brad Handler run the business and use leasing to offer lower nightly rates at high-end destinations. Since launching in January 2011, Inspirato has grown to 900 members and has been adding about 100 members per month. The model targets affluent consumers seeking steep discounts on luxury travel without property ownership. No operating revenue figures beyond membership and fee structure were provided in the article.

Total raised

$99M

Funding rounds

7

Latest round

Equity

Latest activity

Aug 2024