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 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.