Sustainability-focused travel experiences company Intrepid Travel is investing a $7.85 million equity stake in Australian off-grid accommodations provider CABN.
With the investment, CABN plans to grow from the 11 eco-friendly cabins it currently offers to more than 70 across the country. Its cabins are built from predominantly locally sourced and sustainable materials and require minimal infrastructure, aligning to a “leave no trace” philosophy.
The investment will also help CABN keep up with the increasing demand for sustainable travel, with an expected increase of annual room nights from 4,000 to 26,000 across Australia.
Says James Thronton, CEO of Intrepid Travel: “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.
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“We know the CABN product is of particular interest, not only to our existing customer base, but to the growing market of travelers worldwide seeking out authentic and sustainable travel experiences.”
Through the partnership, Intrepid Travel plans to include CABN sites as featured accommodation in a number of tour operators’ trips.
A certified B-Corp, Intrepid Travel offers more than 1,150 trips on every continent. In March of last year, it announced a strategic partnership with France-based investment company Genairgy to help Intrepid become the first $1 billion adventure travel company by 2025.