Getaway Raises $22.5M in Series B Funding
BROOKLYN, NY, Getaway has closed a $22.5M Series B financing round.
Getaway, a wellness hospitality company that provides mindful escapes to tiny cabins in nature within two hours of major cities, has closed a $22.5M Series B financing round. The round was led by a controlled affiliate of Starwood Capital Group, with continued support from L Catterton and other existing shareholders.
Getaway is a unique hospitality company tapping into the increasing need for urban dwellers to find balance in their over-connected and overstimulated lives. The Company offers its guests the ability to 'unplug' from the stress of daily life, reset and embrace simple pleasures like nature, silence and campfires. Every minimalist, design-focused cabin is perfectly situated in serene environments where guests are encouraged to recharge and spend time on what really matters - their relationships with themselves and their loved ones.
Starwood Capital Group, a global private investment firm with a core focus on real estate, energy infrastructure and other related strategies, is bringing its expertise and experience within the hospitality sector to this fast-growing, dynamic wellness company. "Starwood Capital's passion and capability for innovation within the hospitality space marries perfectly with Getaway's mission to provide wellness and mindfulness-oriented travel experiences," said Barry Sternlicht, Starwood Capital Group's Chairman and CEO. "We are very excited to partner with this fast-growing and well positioned company and help expand its impact on people and the world."
This new round of funding will allow Getaway to continue its expansion in pursuit of its mission to offer overworked, over-connected people a chance for a mindful escape. The company currently has six Outposts with 140 total cabins outside of New York, Boston, Washington, DC, Atlanta, Portland, and one in between Pittsburgh and Cleveland. Getaway has already announced two new locations opening later this summer, outside of Los Angeles and Dallas.
"I couldn't be more thrilled to partner with industry leaders like Starwood Capital and Barry Sternlicht," notes Getaway Founder and CEO Jon Staff. "Starwood Capital shares our vision that more time spent disconnected, in nature, and away from everyday distractions will lead to better health and a better world. Their support will make it possible to bring the Getaway experience to many more people seeking mindful escapes."
The Series B follows a $15M Series A round led by L Catterton in early 2017.
Getaway offers simple escapes to tiny cabins in nature just outside of major cities, where guests can disconnect from work, wifi, and routines for a night or two and actually take a break. Getaway builds Outposts (collections of tiny cabins in the woods), outfits them with everything you need and nothing you don't, and rents them by the night. Everything about the experience - from the location of the land, to the design of the cabins to the lack of wifi - helps guests unplug from the stress of daily life, reset, and embrace simple pleasures like nature and a campfire. Getaway has Outposts outside of Boston, New York, Washington, DC, Atlanta, Portland, Pittsburgh, and Cleveland and is coming soon to Los Angeles and Dallas this summer.
About Starwood Capital
Starwood Capital Group is a private investment firm with a core focus on global hospitality and real estate. The firm and its affiliates maintain 13 offices in five countries around the world, and currently has approximately 4,000 employees. Since its inception in 1991, Starwood Capital Group has raised $45 billion of equity capital, and currently has in excess of $60 billion of assets under management. Starwood Capital has invested in virtually every category of real estate on a global basis, opportunistically shifting asset classes, geographies and positions in the capital stack as it perceives risk/reward dynamics to be evolving. Over the past 27 years, Starwood Capital Group and its affiliates have successfully executed an investment strategy that involves building enterprises in both the private and public markets. Additional information can be found at starwoodcapital.com.
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