
Revenue
$30.00M
2024
Growth Rate (y/y)
200%
2024
Funding
$47.80M
2025
Revenue

Sacra estimates Wander hit $30M in revenue run rate revenue in 2024, with a 30% month-over-month GMV growth rate.
Compare to other vertically-integrated short-term rental competitors like Inspirato (NASDAQ: ISPOW) at $287M in TTM revenue (down 13% YoY), Sonder (NASDAQ: SOND) at $620M (up 3% YoY), and Vacasa (NASDAQ: VCSA) at $940M (down 16% YoY), which have struggled with profitability amid declining occupancy rates (Vacasa, ~40%), low revenue per available room (Sonder, ~$150) and high operating costs (Inspirato, 25% gross margin in 2023).
Wander's Eastern region properties generate roughly approximately $129,000 more in annual revenue per property than competitors, achieving 68% higher ADR ($1,028 vs $613). Western region properties generate $22,000 more in annual revenue than market averages, with an ADR of $823. A Hudson Valley case study showed Wander RevPAR of $860 versus market average RevPAR of $187 (+359% outperformance).
Revenue is primarily generated through a 10% service fee to guests (vs Airbnb's 13%) and management fees of 25-30% depending on the operating model. The company maintains 80% direct bookings through Wander.com, reducing OTA commission expenses. Properties average 78% occupancy rates versus competitors' 49%.
While gross margins are estimated between 50-60%, Wander likely operates at a net loss as it invests in growth.
Valuation
Wander has raised approximately $47 million in total funding since its founding in 2021. The company secured a $20 million Series A round in 2022 led by QED Investors, with participation from Redpoint Ventures and Authentic Ventures. A previous $7 million seed round included investments from Redpoint Ventures.
Product

Combining the visual, Instagram-native appeal of Airbnb (which hired professional photographers to enliven vacation rental listings) with the consistency of the hotel experience, Wander launched in 2021 as a vertically-integrated vacation rental company that acquired $2-3M, architecturally-unique properties in vacation hotspots (Big Sur, Joshua Tree), converted them to luxury rentals with hotel-grade amenities and monetized them with a 12% guest fee (compared to Airbnb’s 14%).
A consumer marketplace on the front end, on the back end, Wander acquired properties through its Wander Atlas REIT to fund acquisitions ($18M raised, ~7 homes), with another Wander subsidiary responsible for owning, renovating, managing, and eventually selling the properties (targeted 8% annual return).
Guests book through Wander's mobile app, which provides complete control over their stay experience. The app enables contactless check-in, smart home controls for lighting and temperature, and Tesla vehicle access for local exploration. Properties are equipped with dedicated workstations and enterprise-grade WiFi to accommodate extended "workcations."
Wander differentiates itself through strict quality control and consistency. Each property undergoes extensive vetting and renovation to meet brand standards before joining the platform. The company provides 24/7 concierge support and maintains partnerships with local service providers to deliver hotel-like amenities. Properties are located in scenic destinations chosen for their combination of natural beauty and reliable infrastructure to support remote work.
The platform has expanded to include Wander Team, a service targeting companies seeking locations for corporate retreats and team gatherings.