Exclusive Resorts offers $39M to acquire Inspirato

A Bold Move: Exclusive Resorts Makes Unsolicited Bid for Inspirato

Brad and Brent Handler, founders of both Exclusive Resorts and Inspirato, have found themselves in a unique situation. Despite no longer controlling either company, they are in full support of Exclusive Resorts’ recent $39 million takeover bid for Inspirato, a luxury travel company also based in Denver.

The Handlers’ journey began in 2002 when they, alongside Shark Tank alum Tom Filippini, launched Exclusive Resorts, a members-only vacation club. However, in 2004, the brothers sold their stake in Exclusive Resorts to AOL co-founder Steve Case. Since then, they have had no ownership in the company.

On the other hand, Inspirato, founded by the Handlers in 2011, went public in 2021 under their leadership. Despite a turbulent departure from the company, the Handlers still hold significant stakes in Inspirato, with Brad owning 3.8% and Brent owning 4.3%.

Inspirato is currently led by CEO Payam Zamani, who owns 49% of the company. The recent proposal to merge with Buyerlink, a digital marketing firm owned by Zamani, has sparked controversy. Exclusive Resorts’ bid for Inspirato arrived just before a scheduled shareholder vote on the merger.

While Inspirato’s board has recommended approving the Buyerlink deal, the Handlers, along with other shareholders, have raised concerns about the process. Clint Coghill, who owns about 5% of Inspirato, has criticized Zamani’s alleged self-dealing and conflicts of interest.

Despite the ongoing legal dispute with Inspirato over withheld perks, the Handlers stand by Exclusive Resorts’ offer to acquire Inspirato at $3.15 per share. This move has brought to light various issues surrounding the merger and the conduct of company leadership.

As the situation unfolds, stakeholders are closely monitoring the developments and implications of the potential takeover. Stay tuned for more updates on this intriguing corporate saga.