The following is a summary of the Inspirato Incorporated (ISPO) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Inspirato reported a Q3 revenue of $69 million, showing a 3% increase from the previous quarter, but a 16% decrease year-over-year.

• Gross margin included a gain on lease termination of nearly $30 million, compared to $21 million in the previous year's third quarter which included a $4 million asset impairment.

• The adjusted EBITDA loss improved to approximately $3 million compared to a loss of $9 million in the same quarter last year.

Business Progress:

• Inspirato has streamlined its business model by focusing on its flagship offering, Inspirato Club, reintroducing club membership with initiation fees and annual dues, minimizing short-duration subscriptions.

• Cost structure adjustments resulted in over $40 million annualized savings, with major reductions in leases, payroll, and operational expenses.

• Refocused on luxury experience over discounted offerings and planning to launch a new loyalty program.

Opportunities:

• Optimizing travel revenue with an increase in paid residence nights and plans for further enhancing the member experience.

Risks:

• Transition to a profitable club model may impact member renewal rates and new member acquisition as substantial changes are implemented.

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