Articles tagged “spacs”

Hotels

Sonder Slashes Workforce by More Than 20 Percent, Including Top Tech Exec

The hospitality brand has had to take action to reassure investors it's not over-stretching itself, because they'll now be expecting much higher revenues as travel roars back.

Sonder Slashes Workforce by More Than 20 Percent, Including Top Tech Exec

Business Travel

Amex GBT to Start Trading as a Public Company on May 31

One of travel's most-anticipated SPACs, Amex GBT made it official Friday. It will start trading as a public company on the Tuesday after Memorial Day, smack into a volatile market. But signs of a fast-improving business travel recovery may be what investors choose to focus on.

Amex GBT to Start Trading as a Public Company on May 31

Airlines

Surf Air to Go Public in $1.4 Billion SPAC Deal

Surf Air's debut on the public markets will put to the test two big questions in travel: the validity of electric planes and subscription membership models.

Surf Air to Go Public in $1.4 Billion SPAC Deal

Startups

Raus Raises $3 Million for Nature-Themed Escapes: Travel Startup Funding This Week

This week, Germany's Raus topped up its investment to attract more city dwellers and nature enthusiasts to its cabin getaways, while Mondee secured $20 million as it gears up to go public.

Raus Raises $3 Million for Nature-Themed Escapes: Travel Startup Funding This Week

Travel Technology

Mondee Reportedly Gets $20 Million From Travelport Owners to Support Going Public

Some recent efforts by businesses to go public via mergers with blank check companies have stalled or fizzled. But it's a vote of confidence in Mondee that Travelport's financial sponsors, Elliott Management and Siris Capital, are reportedly putting up money to support the travel tech company in going public.

Mondee Reportedly Gets $20 Million From Travelport Owners to Support Going Public

Business Travel

Amex GBT Assures Investors Pandemic Just a Blip for Corporate Travel

The corporate travel agency’s management team was fairly bullish during an investor day at the New York Stock Exchange on Tuesday, but can anyone really predict the true shape of business travel in the next year or two?

Amex GBT Assures Investors Pandemic Just a Blip for Corporate Travel

Travel Technology

Travel Tech Rollup Mondee Still Aims to Go Public Via $1 Billion Blank Check Deal

Interest in special-purpose acquisition companies, or SPACs, has fizzled. The sell-off in market silliness could mean that investing in a profitable leisure travel wholesaler like Mondee via a SPAC is no longer a high-risk calculation.

Travel Tech Rollup Mondee Still Aims to Go Public Via $1 Billion Blank Check Deal

Short-Term Rentals

Mystery Software Firm Sparked Launch of an Inspirato Corp Rewards Plan

Hey, when opportunity knocks, answer the door if you think there is an ample addressable market. That's what Inspirato did as it develops a corporate rewards or incentive program and seeks to broaden its products into flights and adverture travel, as well.

Mystery Software Firm Sparked Launch of an Inspirato Corp Rewards Plan

Short-Term Rentals

Sonder Says New Public Company Visibility Helps Close Deals in Premium Locales

Sonder began feeling an adverse impact from the Omicron outbreak in late November 2021, and that spilled over into January and February, hurting its booking numbers. Still, the forecast is for a 2022 revenue jump of 100 to 110 percent as it inks new deals in more lucrative markets.

Sonder Says New Public Company Visibility Helps Close Deals in Premium Locales

Online Travel

Tripadvisor Plus Is Case Study in Online Travel Hype

Less than a year ago, a Tripadvisor pitch deck about Tripadvisor Plus touted its "multibillion dollar revenue potential." Despite the company expressing confidence in Plus when it scrapped its business model in September, Tripadvisor admitted last week "we haven't found the product-market fit that we're looking for."

Tripadvisor Plus Is Case Study in Online Travel Hype