HotelTonight Cuts 20% of Staff to Focus on ‘Long Term’
Skift Take
As we've said before, HotelTonight was facing tough challenges from hotel brands and better funded online booking sites that have their own design on the last-minute booking space.
Last-minute booking service HotelTonight confirmed that it has laid off 37 staffers in a round of cuts that hits 20% of its workforce.
"Today’s decision was about making the best choice for the company in the long term," CEO Sam Shank said in a statement. "This agonizing decision is also the right decision."
HotelTonight raised at least $81 million in venture funding through early 2014 and attracted a post-money valuation that is estimated to be $320 million. HotelTonight's app for iOS is consistently in the top 20 travel apps.
Skift's Dennis Schaal wrote extensively about HotelTonight's prospects in a profile in August. At the time, Schaal wrote:
As HotelTonight approach
