Articles tagged “spacs”

Business Travel

Expedia Recorded $326 Million in Losses on Its Stake in Amex Global Business Travel Group

Expedia Group's equity stake in American Express Global Business Travel has taken a shellacking to date, but other aspects of the deal have long-term benefits.

Expedia Recorded $326 Million in Losses on Its Stake in Amex Global Business Travel Group

Online Travel

Booking Holdings CEO Recalls Road Back From Reverse Stock Split to $3,500 Per Share

One challenge for struggling travel SPACs beyond their stock prices is to create something new that's truly valuable to their customers. Booking.com did just that years ago, although others have caught up in the interim.

Booking Holdings CEO Recalls Road Back From Reverse Stock Split to $3,500 Per Share

News Blog

Sonder’s 1-For-20 Reverse Stock Split to Become Effective Wednesday at Market Close

Sonder announced Tuesday that its 1-for-20 reverse stock split would become legally effective after market close Wednesday, and that its shares would start trading on that basis Thursday morning. The move is geared to get the stock trading at more than $1 per share in compliance with Nasdaq rules. "As of the Effective Time, every…

News Blog

Hotel Brand Selina Sees Upswing in Financial Performance

Selina, a hotel and experiences brand focused on youth travelers, said on Wednesday that its financial metrics were trending in the right direction as it reported earnings results. In the second quarter, the company generated $52.5 million in revenue, a bump of 15.9% year-over-year. Factors included higher occupancy rates, reductions in corporate overhead, and essentially…

Hotels

Hotel Brand Selina’s Wild Ride as a Penny Stock: Here’s What We Know

Selina's stock price stabilized on Monday after a sharp drop to an all-time low on Friday. The chain of premium hostels and coworking spots is taking steps to escape penny-stock status.

Hotel Brand Selina’s Wild Ride as a Penny Stock: Here’s What We Know

News Blog

Sonder Sets Shareholder Meeting to Approve Stock Split to Stay on Nasdaq

Sonder shareholders will vote in a special meeting September 15 on whether to give the board approval to carry out a reverse stock split — with the split ratio subject to the board's discretion. Sonder CEO Francis Davidson on stage with Skift Director of Research Seth Borko at the Skift Short-Term Rental Summit on June…

Short-Term Rentals

Sonder Proposes Reverse Stock Split to Stay Listed on Nasdaq

A reverse stock split would give Sonder some breathing room, and who knows, it may even tempt institutional investors to take a look.

Sonder Proposes Reverse Stock Split to Stay Listed on Nasdaq

Short-Term Rentals

Inspirato Lays Off 6% of Workforce, Second Round of Cuts This Year

Inspirato's woes do not appear to be a reflection of the broader luxury sector. Perhaps luxury subscriptions, though, don't have as much value in the eyes of wealthy travelers as the company purports.

Inspirato Lays Off 6% of Workforce, Second Round of Cuts This Year

Travel Technology

Mondee Adds Mobile App and AI Chatbot for Travel Booking

A mobile app, online shopping cart, and easier group travel booking are highlights in a world of outdated tech for travel agents.

Mondee Adds Mobile App and AI Chatbot for Travel Booking

Hotels

Hotel Brand Selina Seeks to Fix Unwieldy Cash Burn

Selina is like a Tesla Roadster sportscar driving down California's Highway 101 on a sunny day while a malfunctioning hood is popping open and the battery's struggling to hold its charge. Everything's fixable, and the views are great. But repairs are urgent.

Hotel Brand Selina Seeks to Fix Unwieldy Cash Burn