Getaway Announces $41.7M in Series C Funding by Certares, Accelerating Outpost Openings Across the U.S.
Getaway, an outdoor and wellness focused hospitality company that offers mindful escapes to tiny cabins in nature located less than two hours outside of major cities across the United States, closed a $41.7 million Series C funding round led by Certares, with continued support from existing investors.
In 2020, Getaway saw a 150% increase in bookings year-over-year, and nearly 100% occupancy on its existing portfolio, as people looked for a way to safely travel to socially distant destinations during COVID-19. The Series C funding will accelerate the development and opening of new Getaway Outposts, such as a third New York Outpost, a second Boston Outpost, and new Outposts in Chicago, Nashville and Seattle, among other locations. During the pandemic, the company opened three new Outposts near Austin and San Antonio, TX, Houston, TX, and Charlotte and Raleigh, NC.
“Our mission at Getaway has always been to provide people with a simple way to disconnect in nature, and in 2020 we have seen people turn to Getaway as a destination to safely disconnect,” states Getaway founder and CEO Jon Staff. “We’re excited to partner with Certares to continue our mission to provide mindful escapes where people can safely travel and reconnect with nature.”
Certares, a global private investment firm with a core focus on travel, tourism, and hospitality, is bringing its industry expertise and experience to Getaway. “We are thrilled to be partnering with Getaway,” said Greg O’Hara, Founder and Senior Managing Director of Certares. “Since its founding, Getaway’s commitment to the guest experience has resulted in exceptional customer satisfaction, which has propelled the company’s market-leading growth. Getaway is a great fit for Certares and we are excited to leverage our extensive industry resources to help the company continue to grow.”
“We believe there is a strong desire by people to spend more time in nature, and Getaway offers an appealing outdoor experience to the urban consumer,” added Richard Moreau, Managing Director of Certares. “We are excited to be partnering with Jon and his team and look forward to working together to continue Getaway’s mission.”
Due to high demand, Getaway is pursuing rapid expansion to bring its popular tiny cabins to new markets. The new properties outside of Boston, Chicago, Nashville, New York and Seattle will bring the total number of Outposts to 17, up from nine Outposts in 2019 and 12 Outposts in 2020. The company will continue to open new locations throughout the year as it strives to give people the time, space and permission to disconnect and the opportunity to reconnect with nature, themselves and their loved ones.
The Series C funding follows a $22.5 million Series B funding round led by Starwood Capital that closed in June 2019.
Getaway offers mindful escapes to tiny cabins nestled in nature where guests can take a break from work, WiFi, and routines and just be off. In a world where everyone is constantly plugged in, Getaway believes strongly that more simplicity, balance, and leisure time are needed to improve our well-being, creativity, productivity, and our relationships. Getaway builds Outposts – collections of tiny cabins in nature within a two-hour drive of major cities, outfits them with the comforts of home, and rents them by the night. Everything about the experience, from the location of the land to the design of the cabins and the lack of WiFi, helps guests unplug from the stress of daily life, reset, and embrace simple pleasures like nature and a campfire. Getaway has Outposts outside of Atlanta, Austin and San Antonio, Boston, Charlotte and Raleigh, Cleveland and Pittsburgh, Dallas, Houston, Los Angeles, New York, Portland, and Washington, D.C. For more information, please visit www.getaway.house.
Established in 2012, Certares focuses on direct investments in proprietary transactions, leveraging deep sector experience in the travel and hospitality industries, and with a consistent emphasis on partnership with management teams to drive growth. Certares brings together a team with decades of both operational and investment experience in private equity, travel, tourism, hospitality and travel-related business and consumer services. For more information, please visit certares.com.