Inspirato and Portico Announce Combination
From the Robb Report Luxury Newswire
Inspirato LLC and Portico Club LLC this week announced they have combined, joining the two fastest growing destination clubs to provide members with increased choice and added flexibility. As a result of the combination, the majority of Portico's residence portfolio will be joined with Inspirato's portfolio, and Portico members will be invited to join the "Inspirato with American Express" travel club without payment of initiation fees. The combined club, which will operate under the name "Inspirato with American Express" and be led by Inspirato CEO Brent Handler, will offer members more than 500 luxury vacation choices in more than 100 destinations
"Inspirato and Portico share a deep commitment to providing our members the very best experiences the world has to offer," said Brent Handler, founder and CEO of Inspirato. "This combination delivers on that promise. I am thrilled to introduce new vacation options to both Inspirato and Portico members and look forward to welcoming Portico members to the Inspirato family."
In conjunction with the combination, Exclusive Resorts, which launched Portico in 2012, will enter into a strategic partnership with Inspirato, providing Exclusive Resorts members privileged access to Inspirato's Signature Residence Collection. Exclusive Resorts and its owner Revolution Places will acquire a minority stake in Inspirato and a seat on the board, joining Inspirato's prestigious list of venture capital partners including Kleiner Perkins Caufield & Byers and Institutional Venture Partners.
"Inspirato and Portico members will benefit by gaining access to a broader range of residences, and the combination positions the combined club to add even more destinations and services in the future," said Steve Case, Revolution Places Chairman. "We are pleased to join Kleiner Perkins and IVP in backing an expanded Inspirato, and look forward to working with Brent and the Inspirato team. These transactions also benefit Exclusive Resorts' members, and speak to our commitment to growing Exclusive Resorts' offerings and experiences."
As the largest destination club in the world, Inspirato will continue to offer a superior alternative to hotels, resorts and online villa rentals by providing new and existing members exclusive access to its Signature Collection of residences, experiences and VIP offerings.
As a result of the combination, existing Portico members will retain access to most of Portico's current portfolio for the duration of their membership year and may elect a complimentary Inspirato membership featuring more than 30 new destinations. Inspirato members will also enjoy a larger collection of luxury vacation options, including more than 30 new destinations around the world. As part of the partnership agreement between Exclusive Resorts and Inspirato, Exclusive Resorts members will be offered an unrestricted Inspirato membership without paying any initiation fee. This membership opportunity is just one of the new benefits and destinations Exclusive Resorts will be announcing in 2014 as part of its 10th Anniversary celebration.
The partnership reunites Brent and Brad Handler, co-founders of Exclusive Resorts, with Exclusive Resorts' current Chairman, Steve Case. Moving forward, Inspirato and Exclusive Resorts will work together to provide discerning and sophisticated travelers with superior lifestyle and luxury vacation experiences.
The integration of Portico and Inspirato is expected to be complete by the end of January 2014.
For more information, please visit www.inspirato.com.
About Inspirato with American Express
Inspirato with American Express is a private club that provides its members exclusive access to a Signature Collection of luxury vacation homes, experiences and VIP offerings. At the heart of the Signature Collection are the club's Signature Residences, multimillion-dollar vacation homes fully managed and controlled by Inspirato for the exclusive use of its members. Inspirato members also enjoy unique members-only Signature Experiences all around the world, access to Signature Ticket VIP events, and Signature Stays with iconic hotels and resorts. Launched in 2011 and now the largest destination club in the world with more than 500 luxury vacation choices in more than 100 destinations, Inspirato is the luxury vacation solution for discerning travelers seeking a superior alternative to hotels, resorts and online villa rentals. In March 2013, Inspirato announced a partnership with American Express and the destination club's new name, "Inspirato with American Express." Learn more by visiting inspirato.com, calling (888) 546-5008, and following Inspirato on Facebook and Twitter.
Inspirato(R) is owned by Inspirato LLC. All products and services offered by Inspirato(R) are provided solely by Inspirato LLC or its agents and affiliates, and not by the American Express Company or its subsidiaries or affiliates.
About Exclusive Resorts
Exclusive Resorts is a discerning and sophisticated community with a 10-year legacy providing its members with a distinctive lifestyle anchored by once-in-a-lifetime experiences. The private club provides members five distinctive ways to discover the best the world has to offer: a $1 billion dollar residential portfolio owned and operated by Exclusive Resorts featuring more than 350 multi-million dollar vacation homes worldwide; curated members-only journeys with exotic adventures spanning seven continents; privileged access to world-class VIP events; exclusive alliances with award-winning resort partners; and a collection of exclusive benefits and privileges with elite travel and luxury lifestyle brands. Founded in 2002 and acquired by Steve Case and Revolution Places in 2004, the Club has delivered more than 165,000 vacations for its discerning members. For more information about Exclusive Resorts, visitwww.exclusiveresorts.com , call (866) 863-2688, and follow Exclusive Resorts on Facebook and Twitter.