BROOKLYN — Getaway, which offers escapes to tiny cabins in nature located less than two hours outside of major cities across the United States, has closed a $41.7 million Series C funding round led by investment firm Certares.
The Series C funding follows a $22.5 million Series B funding round led by Starwood Capital that closed in June 2019.
In 2020, Getaway reported a 150% increase in bookings year-over-year, and nearly 100% occupancy on its existing portfolio, as people looked for a way to safely travel to socially distant destinations during COVID-19. The new funding will help the company open new Getaway Outposts, including a third New York Outpost, a second Boston Outpost, and new Outposts in Chicago, Nashville and Seattle, among other locations.
Getaway’s two locations in NY are upstate in the Catskills.
During the pandemic, the company opened three new Outposts near Austin and San Antonio, TX, Houston, TX, and Charlotte and Raleigh, NC.
“Our mission at Getaway has always been to provide people with a simple way to disconnect in nature, and in 2020 we have seen people turn to Getaway as a destination to safely disconnect,” said Getaway founder and CEO Jon Staff. “We’re excited to partner with Certares to continue our mission to provide mindful escapes where people can safely travel and reconnect with nature.”
Certares, a global private investment firm with a core focus on travel, tourism, and hospitality, is bringing its industry expertise and experience to Getaway. “We are thrilled to be partnering with Getaway,” said Greg O’Hara, Founder and Senior Managing Director of Certares. “Since its founding, Getaway’s commitment to the guest experience has resulted in exceptional customer satisfaction, which has propelled the company’s market-leading growth. Getaway is a great fit for Certares and we are excited to leverage our extensive industry resources to help the company continue to grow.”
“We believe there is a strong desire by people to spend more time in nature, and Getaway offers an appealing outdoor experience to the urban consumer,” added Richard Moreau, Managing Director of Certares. “We are excited to be partnering with Jon and his team and look forward to working together to continue Getaway’s mission.”
Due to high demand, Getaway is pursuing rapid expansion to bring its popular tiny cabins to new markets. The new properties outside of Boston, Chicago, Nashville, New York and Seattle will bring the total number of Outposts to 17, up from nine Outposts in 2019 and 12 Outposts in 2020.