Intrepid Travel invests in CABN
Intrepid Travel will buy a AUD7.85 million equity stake in accommodation platform CABN.
The investment will help deliver more than 70 off-grid, sustainable cabins across Australia by 2023.
CABN’s current experiences include 11 minimalist escapes in some of Australia’s most stunning locations.
Each cabin is built from predominantly locally sourced and sustainable materials.
Their unique design allows guests to immerse themselves in nature.
Intrepid Travel’s investment will allow CABN to keep up with with an expected increase of annual room nights from 4,000 to 26,000 across Australia.
“There is clear alignment across our shared commitment to sustainability, the environment and Indigenous culture,” said Michael Lamprell, CEO of CABN.
The launch of multi-cabin retreat projects across Australia is planned for the future.
The partnership between the two Australian-based companies will allow for an increase in the vertical integration of Intrepid’s business.
CABN will continue to be run by Michael Lamprell in partnership with Intrepid.