United Airlines reported it took a $200 million hit during the first-quarter from the Max 9 grounding, according to a regulatory filing posted Tuesday.
29.03.2024 - 17:13 / skift.com / Srividya Kalyanaraman / Morgan Stanley / Alex Chatzieleftheriou
New York-based Blueground, the property-management company that operates furnished 30-plus-day rentals, has raised $45 million in a series D round.
The round was a combination of equity and debt: WestCap and Susquehanna Private Equity Investments led the equity round. And Blueground secured a debt facility from Barclays, with participation from Morgan Stanley, Deutsche Bank and HSBC.
The company said that the proceeds from the round will go toward development of Blueground’s technology and new strategic initiatives, which includes growing its partner network and its franchises. An additional focus will be on integrating companies it acquired, including Nestpick and Travelers Haven.
“We’re thrilled to welcome new strategic investors who share Blueground’s vision of enabling flexible living on a global scale,” Alex Chatzieleftheriou, CEO and co-founder of Blueground, said in a statement. “The trust from leading investors like Susquehanna and reputable banking institutions like Barclays, and the syndicate banks, is a testament to Blueground’s financial performance and global leadership.”
To date, the company has 15,000 units across 32 cities worldwide. It recently said that it’s considering taking over some properties from rival company Sonder.
Blueground said that it generated revenue of $300 million in 2022, and in 2023, the number climbed to $560 million, a 70% increase.
Over the past six months, Blueground has inked five franchise agreements, with expansion plans reaching Japan and Thailand. Since the launch of its partner network in the third quarter of 2023, Blueground said it has facilitated approximately $2 million in booking value for its partners.
United Airlines reported it took a $200 million hit during the first-quarter from the Max 9 grounding, according to a regulatory filing posted Tuesday.
Certares, a leading travel and tourism investment firm acquired FTI Group, the third-largest tour operator in Europe.
The American Airlines pilots’ union said it has noticed a “significant spike” in safety and maintenance-related incidents.
Last week was the biggest for fundraising in travel tech in almost three months.
American Airlines CEO Robert Isom was awarded $31.4 million in 2023, his highest compensation since he was appointed to the top spot in 2022, according to a proxy statement filed Thursday.
Guesty, the property management platform for short-term rental businesses, said Wednesday that it has raised $130 million in series F funding.
This as-told-to story is based on a conversation with Allie Hubers , a 29-year-old freelance travel writer. It's been edited for length and clarity. Business Insider verified Hubers' expenses.
At the beginning of the year, TPG shared its list of the most exciting hotels set to open in 2024, and those properties spanned from New Jersey to the Seychelles. One of these hotly anticipated hotels, which sits on a stunning stretch of California coastline, has shared new renderings of the property ahead of its summer opening.
Participants will leave the programme confident in their skills to lead change in the day-to-day operations of the business, from their responsibilities to staff, to minimising food, water and energy waste.
With its distinctive blend of Southern charm and sophistication, the hotel has attracted discerning travelers and dignitaries from around the world for decades.
A manor house nestled in the Sierra de Tramuntana – a UNESCO World Heritage Site – Hotel Valldemossa is just a ten-minute stroll from the quaint village of the same name which was once described by world renowned nineteenth century composer, Frédéric Chopin, as “the most beautiful place in the world.”
Anita Paic is an expert in strategic marketing communication with many years of international corporate experience.