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Luxury Travel Startup Inspirato Aims SPAC Merger With Thayer Ventures In $1B Deal: Bloomberg

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Luxury Travel Startup Inspirato Aims SPAC Merger With Thayer Ventures In $1B Deal: Bloomberg
  • Denver’s luxury travel startup, Inspirato, is planning a reverse special purpose acquisition company (SPAC) merger with Thayer Ventures Acquisition Corp (NASDAQ: TVAC) (NASDAQ: TVACU) to go public at over $1 billion valuation, Bloomberg reports.
  • Inspirato offers unrestricted booking in luxury vacation homes and five-star hotel brands like Ritz Carlton, starting from a monthly $2,500, with no incremental fee. Another monthly plan of $600 offered booking privileges, excluding additional nightly rates.
  • The company’s booking activity rose 30% year-over-year amid the pandemic, based on a Jan. Bloomberg report. 
  • Inspirato’s over 18,000 members can select from 1,200 vacation options across 395 destinations.
  • Thayer Ventures had raised $172.5 million in a Dec. initial public offering. The SPAC planned to focus on the travel and transportation technology sectors.
  • Thayer Ventures SPAC is affiliated with Thayer Ventures, which focuses on investment in travel and transportation companies. It is led by co-CEOs Mark Farrell and Chris Hemmeter.
  • Thayer’s portfolio included short-term rental specialist Sonder, travel search site Hipmunk, and hotel revenue management software maker Duetto.
  • Price action: TVAC shares traded lower by 0.8% at $9.96 on the last check Friday.
 

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