Inspirato, a luxury destination club that gives members access to its hundreds of elite accommodations, has just landed $20 million to grow its already large portfolio of locations.
With the rise of Airbnb, travelers increasingly want to stay in homes rather than hotels. But wealthy travelers may also want some of the amenities that hotels provide. That’s where Inspirato comes in. The company, which is partnered with American Express, offers members a portfolio of luxe homes to choose from. It also gives them access to local high-end resorts.
There must be a market for it, because the company says its membership has doubled from 4,000 to 8,000 in the last 14 months.
“Inspirato is well capitalized,” said Brent Handler, founder and CEO of Inspirato. “However, this additional financing allows us to pursue broader expansion while at the same time continuing to invest in our most important priorities.” The company’s existing portfolio is said to be worth $750 million.
The company is also interested in pursuing other avenues. It recently launched Jaunt 52, a weekly email with a listing of lower-priced accommodations on specific dates — for those of us who want to feel rich.
Investors in this latest round of funding include W Capital Partners, and existing investors Institutional Venture Partners, and Millennium Technology Value Partners.