In February I wrote about new startup and luxury home rental service Inspirato. Think timeshare for the rich – members are able to stay at luxury homes around the world for a relatively inexpensive price that’s about 1/3 of market price.
It’s a twist on the Exclusive Resorts model, with the biggest difference being that members don’t have to pay hundreds of thousands of dollars to join. Instead they pay a relatively modest fee of $15,000 plus a couple of thousand dollars a year.
The company raised $5 million in late 2010 to get things started. Today they’re announcing another $11 million in funding. It’s not from venture firms, either. 50 or so wealthy individuals invested in the round. That’s an average of about $220,000 per person. Most of those investors, says cofounder Brad Handler, got a free membership as part of their investment. Funnily enough, a lot of the investors are venture capitalists acting as individual investors, not through their firms.
How’s the company doing? Besides the $15 million in capital, Inspirato has racked up $4 million in revenue since launch, and about 100 new members join each month.
Inspirato combines the best features of vacation clubs and rental offerings but without any of the drawbacks. It seeks to make luxury travel flexible, easy, and affordable.
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San Francisco, CA
