Intrepid Travel, a travel company with sustainability at its core is investing a $7.85 million into CABN, an Australian accommodations provider.
CABN currently have 11 eco -friendly cabins built from predominantly locally sourced and sustainable materials which require minimal infrastructure and a ‘leave no trace’ philosophy. With this investment they hope to increase that number to 70.
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.
During COVID-19 and with borders closed CABN still enjoyed a high average occupancy rate of over 90% and this is expected to increase as consumers continue to embrace sustainable travel. Intrepid Travel’s investment will allow CABN to keep up with the increasing demand, with an expected increase of annual room nights from 4,000 to 26,000 across Australia.
“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”, said James Thronton, CEO of Intrepid Travel.