Good morning from Skift. It’s Thursday, September 14. Here’s what you need to know about the business of travel today.
25.08.2023 - 14:20 / skift.com / Rashaad Jorden
Luxury travel subscription service Inspirato announced on Wednesday that it’s laying off 12 percent of its workforce amid its struggles with lower-than-expected occupancy and disappointing sales.
“We took this step to help reduce costs as we manage Inspirato responsibly in the face of ongoing macroeconomic uncertainty,” co-founder and CEO Brent Handler said in a statement.
“We believe this reduction will help us achieve our goal of adjusted (earnings before interest, taxes, depreciation and amortization) breakeven in 2023.”
Inspirato reported a $7.3 million net loss during its most recent quarterly earnings call on Dec. 20, 2022. The company also said during the earnings call it anticipated a higher than expected loss for 2022 due to increased operating expenses and sluggish sales of its Pass program, which provides travelers access to luxury vacation homes and hotels.
Good morning from Skift. It’s Thursday, September 14. Here’s what you need to know about the business of travel today.
Denver-based property manager Evolve is laying off 20% of its workforce, Skift has learned.
Good morning from Skift. It’s Tuesday, September 12. Here’s what you need to know about the business of travel today.
Oyo, in preparation for its upcoming IPO in 2023, is doing a major reorg of its organizational structure and cost base. It has announced it is letting go of 600 employees out of a total of about 3700, mostly in its product and tech teams. From the company:
Good morning from Skift. It’s Friday, November 11. Here’s what you need to know about the business of travel today.
Good morning from Skift. It’s Tuesday, November 8. Here’s what you need to know about the business of travel today.
In a second round of cuts since mid-year, property manager AvantStay laid off 144 staffers, about 22 percent of its workforce, according to a published report from Short Term Rentalz.
Good morning from Skift. It’s Thursday, November 10. Here’s what you need to know about the business of travel today.
Good morning from Skift. It’s Tuesday, January 10, and here’s what you need to know about the business of travel today.
Good morning from Skift. It’s Friday, January 6, and here’s what you need to know about the business of travel today.
The Ace Hotel Group, the boutique hotel chain considered to be a pioneer in the sector, announced Tuesday that it will be acquired by hospitality firm Sortis Holdings for $85 million, marking yet another chapter in the history of this small but influential player in hospitality.
Vacation rental property manager Vacasa is eliminating 1,300 positions, which was 17 percent of its workforce, as the company determined it had to make deeper improvements to operations. The firings took place Tuesday, just three months after the company axed 280 staffers.