With the investment, CABN plans to grow from the 11 ecological booths it currently offers to more than 70 nationwide. Its cabins are built mostly of local and sustainable materials and require a minimal infrastructure in line with the “leave no trace” philosophy.
The investment will also help CABN meet the growing demand for sustainable travel, with annual room rates expected to increase from 4,000 to 26,000 in Australia.
Says James Tronton, CEO of Intrepid Travel: “CABN’s offerings and business model blend perfectly with our move to the accommodation vertical and it is natural to fit into our vision to grow as a dedicated adventure travel company.
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“We know that the CABN product is of particular interest not only to our existing customer base, but also to the growing market of travelers around the world looking for authentic and sustainable travel experiences.”
Through the partnership, Intrepid Travel plans to include CABN sites as accommodation offered in a number of tour operators’ trips.
Certified B-Corp., Intrepid Travel offers more than 1,150 trips on each continent. Last March, it announced a strategic partnership with France-based investment firm Genairgy to help Intrepid become the first $ 1 billion adventure travel company by 2025.