The adventure specialist’s investment will accelerate CABN’s growth plans in the hope of scaling up the firm’s offering by 2023. The new partners’ ambitions include multi-cabin "retreat-style" projects.
CABN currently offers 11 cabin escapes in some of Australia’s most iconic locations. Its cabins are predominantly built from locally-sourced, sustainable materials and require minimal infrastructure to operate as part of a broader "leave no trace" philosophy.
CABN maintained a more than 90% occupancy rate during the pandemic while Australia’s borders were closed, something it and Intrepid expect to grow as sustainable travel becomes more mainstream.
Intrepid said its investment would allow CABN to keep up with demand, forecasting growth in annual room nights from 4,000 to 26,000. It will also boost vertical integration between the two firms; future plans include offering CABN accommodation on Intrepid tours in Australia.
CABN will continue to be run by founder and chief executive Michael Lamprell, in partnership with Intrepid. "We are incredibly pleased we have found the right partner to take CABN forward," said Lamprell.
"There is clear alignment across our shared commitment to sustainability, the environment, and Indigenous culture. Intrepid Travel has extensive experience in the sustainable travel space, and this partnership will allow greater opportunity to expand our off-grid accommodation and experiences.”
Intrepid chief executive James Thornton added: "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.
"We know the CABN product is of particular interest, not only to our existing customer base, but to the growing market of travellers worldwide seeking out authentic and sustainable travel experiences."
