Travel Startup Closes $10 Million
Collective Retreats, an experiential travel company, raised $10 million in financing from an undisclosed investor.
Collective Retreats’ goal is to offer travelers “unique luxury retreats in unexpected places.” The company was built with an asset-light business model, meaning that each destination was created with minimal materials, removing the permanence of brick and mortar. Whereas many hotels and resorts pride themselves on the grandeur and stateliness of their buildings, Collective Retreats plans to create as little barrier as possible between one’s surroundings and one’s accommodation. Without sacrificing luxury hospitality, the destination retreats manage to refresh their images every year while providing the comfort of five-star hotels to their guests.
The company will use the funding to begin a major expansion that will likely include building-free, modular-style retreats in urban areas.