Luxury vacation home and 5-star hotel room rental startup, Inspirato, is planning a reverse special purpose acquisition company (SPAC) merger with Thayer Ventures Acquisition Corp to go public at over US$1 billion valuation, Bloomberg reports, citing people with knowledge of the deal.
Denver-based Inspirato, co-founded by brothers Brent Handler and Brad Handler, launched the “Inspirato Pass” in 2019. You can read HOTELS recent interview with Brett here.
Inspirato, which has 18,000 members, lets customers book unlimited stays in luxury vacation homes, as well as 5-star hotel brands such as Ritz-Carlton, starting at US$2,500 a month with no other nightly rates or fees. Another membership plan, at US$600 a month, provides booking privileges, though users have to pay additional nightly rates. It offers some 1,200 vacation options in 395 destinations.
Inspirato’s booking activity was up 30% year-over-year, Bloomberg Businessweek reported in January.
Venture firms Kleiner Perkins, IVP and Revolution are among Inspirato’s existing investors, its website shows.
Thayer Ventures had raised US$172.5 million in a December initial public offering. The SPAC planned to focus on the travel and transportation technology sectors.
Thayer’s portfolio includes short-term rental specialist Sonder, travel search site Hipmunk and hotel revenue management software maker Duetto, according to its website.