Inspirato discusses potential $1bn SPAC with Thayer Ventures

US: Private travel club Inspirato is reportedly in talks to go public via a merger with a special purpose acquisition company [SPAC].

According to Bloomberg, the company is talking to venture capital firm Thayer Ventures, which has already invested in short-term lodging company Sonder and more recently contributed to noise monitoring firm NoiseAware’s $8 million Series A funding round. The talks are believed to still be at an early phase of negotiations.

If the transaction goes ahead, the subscription-based company would achieve a $1 billion valuation, according to the Bloomberg report.

Inspirato operates a growing portfolio of luxury curated residences, including a global collection of hotel and resort partners. The company aims to offer the certainty of a five-star hotel in the comfort of a spacious vacation home, which comes with supplementary personalised amenities such as dedicated support from its Care team.

Co-founded by brothers Brad and Brent Handler, Inspirato launched its Netflix-style subscription-based service Inspirato Pass two years ago, to enable frequent flyers to travel as much as they like and make use of the luxury hospitality company’s growing portfolio of hotels and resorts. Clients are able to book an unlimited number of stays at legacy five-star brands, including the Ritz Carlton, from prices starting at around $2,500 a month with no additional fees on top.

The company has more than 18,000 members in its roster, with a choice of 1,200 vacation home options in over 395 destinations worldwide.

Despite the pandemic, Inspirato reported year-on-year increases in its booking rates by up to 30 per cent.

Meanwhile, Thayer Ventures created its subsidiary brand, Thayer Ventures Acquisitions, in October 2020, which then raised $172.5 million in an initial public offering [IPO] in December. The firm is planning to accelerate its investment in both travel and transportation companies, and sees Inspirato as the next potential target in its overall strategy.