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Airbnb’s Shakes Up Finance Chief

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Skift Take

As we speak’s podcast appears at Airbnb’s new CFO, Selina’s restructuring, and the way a merger between Alaska Airways and Hawaiian would play out.

Good morning from Skift. It’s Wednesday, December 6. Right here’s what it’s essential know concerning the enterprise of journey in the present day.

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Episode Notes

Airbnb is shaking up its enterprise group. It introduced that CFO Dave Stephenson will turn out to be chief enterprise officer, and VP of finance Ellie Mertz will turn out to be CFO. Catherine Powell, who turned world head of internet hosting in July 2020, might be leaving the corporate. 

The change comes after analysts on Wall Road expressed concern about Airbnb’s forecast for  slower progress in room nights, writes Skift Government Editor Dennis Schaal. Stephenson might be accountable for increasing Airbnb’s core houses enterprise, pushing worldwide growth, and increasing Airbnb’s host provide.

Subsequent, lodge model Selina is making an attempt to keep away from chapter with a brand new restructuring plan and a capital injection of as much as $50 million. a, writes Hospitality Editor Sean O’Neal. 

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Monetary crunches aren’t new for the model geared towards youthful vacationers. Late final yr, Selina went public in a SPAC deal that failed to herald sufficient capital to fund its operations.

Selina could have a savior, writes O’Neal. In June, the model organized a promise of strategic funding led by World College Programs, which runs for-profit universities. Selina has obtained over about $20 million in capital since then.

Lastly, how worthwhile would a merger Alaska and Hawaiian play out? A merger between the 2 carriers may make them the fifth-or-sixth largest airline based mostly on income, writes Skift airways reporter Meghna Maharishi. 

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By way of profitability, Alaska-Hawaiian collectively is much less worthwhile than Alaska by itself however considerably extra worthwhile than Hawaiian, which has struggled for the reason that pandemic. 

In 2017, Hawaiian reported the very best margins within the U.S. airline trade at 18.8%. But it surely has confronted a lot of points lately, together with the Maui wildfires and a sluggish restoration of the Japanese customer market. 

The working margin if the 2 merged could be 5.1%, placing it in the midst of main U.S. airways, writes Maharishi.

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