|Description||Members-Only Luxury Vacations|
|Series A, 10/2011 |
Kleiner Perkins Caufield & Byers
Access Venture Partners
|Series A, 10/2011 ||$1.3M|
|Series B, 1/2012 |
Institutional Venture Partners
|Series B, 6/2012 |
Millennium Technology Value Partners
|Debt, 4/2011 ||$11M|
Inspirato is a private, members-only luxury destination club founded in January 2011 by destination club pioneers Brent and Brad Handler and their partners Martin Pucher and Brian Corbett.
Designed specifically for a new generation of luxury consumers, Inspirato offers the best of destination club consistency and service, together with extraordinary value, flexibility and low-cost membership. In exchange for an initial membership fee and annual dues, Inspirato club members gain access to a Signature Collection of luxury vacation homes, experiences and VIP offerings. At the heart of Inspirato’s Signature Collection are the club’s Signature Residences, multimillion-dollar, luxury vacation homes fully managed and controlled by Inspirato for the exclusive use of its members. Homes range in size from intimate, one-bedroom cottages to expansive mountain chalets in many of the world’s most sought-after destinations, including the Caribbean, Colorado, Florida, California, Hawaii, France, Italy, Mexico and more.
Inspirato members enjoy the services of a personal vacation advisor and an on-site destination concierge as well as daily housekeeping every time they travel to a Signature Residence. In addition, members can access the club’s portfolio of unique, members-only Signature Experiences all around the world, Signature Ticket VIP events, and Signature Stays with iconic hotels and resorts. The club also provides a curated selection of Inspirato adventures travel options, including an African safari, a Galapagos Islands voyage and a guided tour of Machu Picchu, and various club benefits such as discounts on travel-related services.
By leasing its vacation properties (rather than owning them), Inspirato is able to keep membership fees significantly lower than many other destination clubs, offer heavily reduced nightly rates, and easily add homes and destinations to the club’s portfolio as demand increases.
Less than a year and half after its launch, Inspirato announced it had surpassed the 10,000 vacation-night milestone in addition to welcoming nearly 2,000 club members, raising more than $1 million for charitable causes through its Inspired Giving program, and being named one of “America’s Most Promising Companies” by Forbes and “Best of the Best 2012: Vacation Homes” by Robb Report. As of June 2012, the company had raised $65 million from notable investors including Kleiner Perkins Caufield & Byers, Institutional Venture Partners, Millennium Technology Value Partners and DAG Ventures.
In July 2012, Inspirato announced the launch of two new products: Jaunt by Inspirato encourages club members to vacation more and rewards them for vacationing on short notice. Each week, club members are notified of select homes in the club’s portfolio that are available for immediate booking at significantly reduced rates: $295 per night for the first seven days, and $495 or less per night for the subsequent seven days, representing what may be the most significant discounts ever offered in the luxury travel industry. Inspirato for Business is the club’s corporate offering, providing businesses of any size a solution for corporate meetings, incentives and reward travel.
In March 2013, Inspirato announced a partnership with American Express and the club’s new name, “Inspirato with American Express.” The partnership was designed to raise awareness with relevant consumers and provided special benefits to American Express Cardmembers.
In December 2013, Inspirato announced Inspirato and Portico Club (launched by Exclusive Resorts in 2012) had combined, joining the two fastest growing destination clubs in the industry to provide members with increased choice and added flexibility. As a result of the combination, the majority of Portico’s residence portfolio joined with Inspirato’s portfolio and Portico members will be invited to join Inspirato without payment of initiation fees. The combined club, which continues to operate under the name “Inspirato with American Express” and under the leadership of Inspirato CEO Brent Handler, will offer members more than 500 luxury vacation choices in more than 100 destinations. As part of the agreement, Exclusive Resorts and its owner Revolution Places acquired a minority stake in Inspirato and a seat on the Inspirato board and Inspirato and Exclusive Resorts entered into a strategic partnership to provide discerning and sophisticated travelers superior lifestyle and vacation experiences.