nddomer04

Here's a link to a webinar that Inspirato just hosted last week. It provides a great overview of the differences between Club & Pass, how Inspirato's model works, the service aspect, booking w/ Pass, member testimonials, etc. https://share.vidyard.com/watch/5wAfw5sKYNy1dDaK36rUF6?

dval44

nddomer04 Hi! We are looking at this.

If my wife and I both signed up for pass ($5k/month), do you think there would be any way to use this as our primary WFH situation? Two passes seems like it would solve all the waiting period problems.

But the primary issue seems like the stays are just too short.

In March, the longest stay I can see is 7 days, and most of them are in single-room hotels like the Westin in Boston.

We have a condo we can use in-between, but I'm not really looking to pay $5k/month to stay in a Westin for 2 weeks out of each month. Do you think we could get outsize value here?

The primary motivation for us would be 1.) Taking advantage of the WFH lifestyle and exploring new places 2.) Hoping to stay in nicer accommodations that usual but we don't need a palace. At least 2 separate rooms is necessary though.

I really want to be persuaded, but when I search the actual availability, it just isn't that compelling. Maybe I am missing some of the options or something?

Goodmorning2U

I’ve looked at the product a few times and it only would make sense to us if we wanted to stay at 3 bedroom or more villas, and booked months in advance. You are right, the last minute availability makes no financial sense.

nddomer04

Hi dval44, I totally hear what you're trying to do. I'm just not sure that's the best use for Pass. The best way to use Pass is to book 4-6 weeks in advance, take the trip and then book another 4-6 weeks out from there. That's when the trip length and quality of stays (i.e., larger residences) increase. If you had two passes, then you could totally piggy-back trips, but I still just don't see this being a primary WFH solution.

March is a tough month to use as an example because of spring break...and so many of us Club members were using credits from cancelled trips last year to book way in advance for this year. The typical Club member normally books 3-6 months in advance, but that window has widened considerably due to COVID cancellations and rebookings.

All this said, I personally know the two people who were featured in that presentation in the link from my previous post. They work from home, and they are Pass members (whereas I am a Club member). I'm going to send you a private message with their contact info, and you can reach out to them for their feedback on how they use Pass with their WFH situation and how it could work for you.

BenjaminNicholas

I bought into this program early on and it's been pretty much a disaster.

A lot of the early promises about the program turned out to be BS.

COskiGirl1985

I am a little confused. In post #57 on 9/3/20 you said “I was close to buying into this, but the T&Cs are what killed it for me. Much like what Susan detailed above, it wasn't worth it with those strings.”

Now you’re saying you bought into this program early on?

BenjaminNicholas

Was that not early on? This program debuted early last year, no?

I bought in, yes, and I regret it. Live and learn.

Kagehitokiri

were you able to book any desired trips ?

july 2019 pass launch
jan 2011 inspirato launch

presumably covid was factor in reducing whatever inventory pass had if there was any to begin with

btw anyone heard re lease agreements inspirato does with homeowners ? i only recall one FT post

nddomer04

Dval44, here's a new piece about exactly what you were mentioning trying to do: https://uk.sports.yahoo.com/news/tik...210333120.html I'm still not sure that's the best use of Pass, but I do know people who use it that way, and it looks like these people do as well. Maybe it's just too foreign to me because of my large family & relatively inflexible travel windows.

Kagehitokiri, what kind of info are you looking for in regards to lease agreements with homeowners? I do have some familiarity with this...the agreements are typically 5 years, Inspirato assumes virtually all expenses on the home (taxes, association dues, maintenance, etc), and the homeowner gets certain negotiated weeks per year....then they have access to additional dates at discounted rates. The people I know who have taken advantage of this are those who don't use their vacation home for more than a few weeks per year....it doesn't work great if you live there for multiple months. But for someone just holding a vacation home for appreciation & limited personal use, and then renting it out other times....it's a great program. Inspirato takes incredible care of the property, only fellow Inspirato members have access, and the homeowner has guaranteed fixed rental income, as opposed to having the variable income with VRBO, etc. Let me know if you have any other questions!

COskiGirl1985

Inspirato’s CEO, Brent Handler, held a call tonight for members. Especially for a new member like myself, it was great to hear details about what’s been going on behind the scenes and what’s in store for 2021. They said the recording would be made public. If so, I will post here.

Here were the key points from the notes I took:

• The company celebrated its 10th anniversary in January.
• Inspirato is on strong financial footing. More cash on hand at the end of 2020 than at the end of 2019.
• As the pandemic hit, Inspirato laid off 100 of the 600 employees. They are now back in heavy hiring mode and, within a few months, plan to have more employees than they had before the pandemic/layoffs. Targeting 650+ just within a few months.
• Over 76 new residences were added last year alone, more than the prior 18 months before the pandemic hit.
• As of the end of February ‘21, future 12-month bookings are up a whopping 55% compared with the same 12-month window at the end of February last year.
• In order to accommodate this enormous demand, more new residences will be added over the next 6 months than the previous 12 months. And as mentioned, the previous 12 months already saw record portfolio growth. The next new property announcement is Tuesday March 16.
• They are looking at taking complete control of a boutique hotel in NYC, and opening an Inspirato member lounge (like the one we have in Vail).
• 1,628 new families joined Inspirato last year, including 689 passholders. So definitely more people joining the Club side.
• Inspirato is leveraging its strong cash position to be more aggressive and take advantage of opportunities in the luxury space. The partnership with Montage Cabo is just one example. Another is the partnership with Casa Palmero in Pebble Beach. He said that before the industry took a hit with Covid, a deal like this would not have been possible.
• Another example of aggressiveness is obtaining board approval to enter into some 10-year lease agreements versus the typical 5-year. Some of these new 10-year agreements have begun within the past 60 days
• In addition to growing the overall portfolio, there will be additional opportunities for Passholders...as just one example, he mentioned being able to secure sporting events tickets as a way to get value from Pass during a time when you might not be traveling.
• Challenges include the tight national real estate market, especially in prime destinations.
• As prices are rapidly rising, so too are lease rates. And low housing inventory is a national problem
• Through the real estate division, Inspirato is working to match prospective buyers of luxury properties with accommodations Inspirato wants in their portfolio. Then they can turn around and take control of the residence as was mentioned in a prior post.
• Inspirato is heavily investing in the portfolio, technology and staff, taking advantage of their strong financial position relative to many others in the travel/hospitality industry.
• Pass has been very successful thus far, but is still in its early days. The product will continue to evolve. It works best for people who are highly flexible and are willing to consider a multitude of trip locations. It is not a substitute for a primary residence, and those who want control over their travel dates/duration/location are better suited for Club membership.
• Lastly, as is witnessed by the membership growth, they are getting lots of inquires from people who are drawn to Inspirato because of the control over the portfolio, the consistently high service and certainty, the high cleaning standards, and wanting a luxury vacation without being surrounded by lots of other people. Gearing up for continued growth this year and beyond.

erik123

Great and wonderful.

Lauren Falkner

Could anyone give insight into what sort of discounted rate is offered at aman resorts through club? Specifically was trying to find rates for amangiri in the next few months. I love the idea of club but wondering if it’s actually a decent discount or not. Thanks for any information!

Valveking

Probably none at all. Their hotel partnerships aren’t any good for the most part, but I would be glad to check rates for you if you give me dates.

Lauren Falkner

I was looking at July 20-23, definitely would appreciate you checking! In the email they sent me it said typically a 20-50% discount on their hotel listings which surprised me since Aman never discounts anything! Anyway, thanks for responding!

nddomer04

Recently had a conference call which included questions about this property, so I'll just jump in and say that you're correct....Inspirato is not allowed to undersell Aman...the rates are in parity (~$3,500/night for the Desert View suite or ~$4,500/night for the Desert Pool suite for most dates). Because of this, Inspirato has a unique benefit for this property where they give you 5% of the subtotal back in the form of Travel Perks (trip credits) upon checkout. Then you can use those Travel Perks toward other Inspirato bookings. Your Inspirato team will also be able to get any applicable promotion Amangiri has running.