Destination club puts luxury within reach -- for some
Inspirato connects its members with high-end vacation homes and hotels in New York, London, Paris and beyond.
You don't have to be part of the 1% to spend your vacation in a multimillion-dollar mansion. But you do need considerable funds, CNBC's Kelly Evans reported on Friday.
Founded in 2011, destination club Inspirato connects its members with luxury vacation houses and hotels in 69 destinations, including New York, Paris, London, Sydney and Buenos Aires. Members have access to a range of vacation styles, from relaxing on a beach to ranching in the Rocky Mountains.
But there's a fee, or two: Members shell out a $17,500 initiation fee and a $3,000 annual fee to access those properties, which have an average size of 4,250 square feet and a value of $3.6 million.
That approach makes luxury rentals available to a much larger audience, according to Brent Handler, founder and CEO of Inspirato.
"The pricing and the value that they receive is very, very competitive for what they might be able to find on their own," he said in the report. "And the service level also is really bolstered up because of our unique business model."
Membership fees do not cover nightly rental costs.
Inspirato currently has more than 4,000 members, according to Handler. The company controls about $500 million in properties but doesn't own the houses. Instead, it uses long-term leases to have greater control over the inventory.
The club runs at an occupancy of about 44%, making it easy to accommodate members' travel desires.
Most destinations include multiple properties. Others, like Costa Rica, which was added last week, and Naples, have only one at the moment. Inspirato is adding new properties on a monthly basis, according to Handler.
Members traveled to Vail and Aspen, Colo., and beyond for Labor Day weekend. As an example of Inspirato's value, Handler pointed to a four-bedroom home in Vail, a property worth more than $5 million.
"We have members currently staying there for only $295 per night," he said in the report. "That's not per bedroom or per person, that's per night."
The rental includes daily housekeeping and a concierge, according to Handler. Other member benefits include a personal vacation adviser, a private chef and access to members-only programming.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] Equity indices are little changed at midday with the S&P 500 hovering within a point of its flat line. Small caps underperform with the Russell 2000 trading lower by 0.2%.
The first two sessions of the week produced the lightest volume totals of the year so it was not surprising to see the key indices respect narrow ranges through the first half of action today. After opening on a slightly higher note, the S&P 500 has remained within two points of its flat line. ... More
More Market News
Shares fell 9 percent during the quarter, which offers a compelling entry price now.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'