INTREPID Travel has announced a $7.85 million investment in off-grid accommodation developer CABN, which currently offers 11 “cosy-minimalist escapes” across Australia.
CABN’s self-contained, eco-friendly tiny houses are built offsite from predominantly locally sourced and sustainable materials, and once completed are transferred to private land in partnerships with farmers or other landholders.
The Intrepid investment will accelerate CABN’s plans to deliver over 70 properties by 2023, with the deal feeding into an “increase in the vertical integration of Intrepid’s businesses,” according to CEO James Thornton.
Future plans will see CABN included as featured accommodation in a number of Intrepid trips, with Thornton saying “CABN’s offering and business model aligns perfectly with our move into the accommodation vertical, and is a natural fit within our vision to grow as a purpose-led adventure travel company”.
CABN, which claims a 90% occupancy rate for its existing locations, will continue to be run by founder Michael Lamprell.
Intrepid’s push into the accommodation sector also includes last year’s partnership with Drifter Hospitality Group to acquire and rebrand “sustainable owner-operated premium hybrid hotels (TD 25 Oct 2021).
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Source: traveldaily