Inspirato Chairman & CEO Payam Zamani Significantly Increases Ownership
GlobeNewswire Inc.
December 19, 2024 2:02PM GMT
Zamani Further Demonstrates Confidence in Future of Inspirato Through Series of Transactions, Including Open Market Purchases of Inspirato Stock
DENVER, Dec. 19, 2024 (GLOBE NEWSWIRE) -- Inspirato Incorporated (“Inspirato” or the “Company”) (NASDAQ: ISPO), the premier members-only luxury vacation club, today announced increased ownership by Chairman and CEO Payam Zamani.
The investment was made both directly by Zamani, as well as his fully owned investment firm One Planet Group, further demonstrating his strong commitment to Inspirato, the future of the Company, and its position within the luxury club and vacation market.
Zamani’s recent increased investment consisted of the following transactions, equating to a total of approximately one million shares:
- Exercised investment option to acquire an additional $2.5 million shares.
- Converted $600,000 cash owed to One Planet Group into additional shares at market price.
- Invested approximately $350,000 to acquire 100,000 shares through open market purchases.
Including warrants, Zamani and One Planet Group now own approximately 8.2 million shares equating to approximately 50% of Inspirato’s fully diluted shares outstanding.
"I love Inspirato and its business model. Luxury vacation experiences represent significant opportunities for a long time to come,” said Payam Zamani, Chairman and CEO of Inspirato. “Inspirato has a best-in-class management team, and it is well positioned to deliver on its promise as a member only highly coveted vacation club.”
Zamani’s increased investment underscores a clear vision for Inspirato’s long-term value creation and commitment to delivering sustainable results. Since taking over leadership as Chairman and CEO in August 2024, the Company has invested in overall operational efficiencies and executed on an annualized cost savings plan of $40 million, an increase of $15 million from its original plan, positioning the Company for profitability in 2025.
For more information about Inspirato, visit www.inspirato.com.
About Inspirato
Inspirato (NASDAQ: ISPO) is a members-only luxury vacation club that provides exclusive access to a portfolio of curated vacation options, delivered through an innovative model designed to ensure the service, certainty, and value that discerning customers demand. The Inspirato portfolio includes exclusive luxury vacation homes, accommodations at five-star hotel and resort partners, and custom travel experiences. For more information, visit www.inspirato.com and follow @inspirato on Instagram, Facebook, X, and LinkedIn.
About One Planet Group
One Planet Group is a closely held private equity firm that owns a suite of technology and media businesses while also investing in early-stage companies. Owned and operated businesses span a variety of industries including ad tech, publishing, and media. One Planet Group’s mission is to support strong business ideas while building an ethos that helps improve society and give back to communities. The company’s investment portfolio includes a diverse group of innovative tech-enabled products and solutions. Investing primarily in high-growth early-stage entities, emphasizing companies that aspire to ‘Innovation + Intention.’ One Planet Group was founded by tech entrepreneur Payam Zamani in 2015. With offices and employees in over ten countries, its global headquarters is in Walnut Creek, California. For more information, visit www.oneplanetgroup.com.
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