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Amex to own a piece of luxury vacation company
Inspirato LLC hopes to rev up its growth by partnering with a new minority shareholder: American Express.
The luxury destination club was launched in 2011 by Brent Handler, former CEO of Exclusive Resorts. Its investors include private equity firms Kleiner Perkins Caufield & Byers and Institutional Venture Partners.
For $17,500 up front and $3,000 in annual fees, Inspirato’s Core Members get private vacation homes with an average value of $3.6 million, plus luxury hotels and adventure travel experiences in destinations like Aspen, St. Barts, the Maldives and Provence. Limited memberships also are available, starting at $7,500.
Corporate member use the club for retreats, incentive reward trips, and events, the company says.
"This partnership is an opportunity for us to introduce consumers to an innovative concept in luxury travel, offer American Express Cardmembers special benefits, and share in the future success of Inspirato," said Eric Feldstein, executive vice president, Enterprise Growth, American Express.
To celebrate the partnership, American Express members will get $2,500 off the initiation fee and $400 off the annual membership fee when they pay with their American Express Card.
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