- Denver’s luxury travel startup, Inspirato, is planning a reverse special purpose acquisition company (SPAC) merger with Thayer Ventures Acquisition Corp TVAC 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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