Inspirato CFO Resigns Amid Weak Quarterly Results
Denver-based luxury travel club Inspirato is searching for a new chief financial officer after CFO Michael Arthur resigned following the company’s third-quarter earnings release. This marks the third CFO change during CEO Payam Zamani's 15-month leadership.
Leadership Changes
Michael Arthur served as CFO since October 2024, replacing Robert Kaiden who joined in March 2023. Arthur announced his resignation earlier this week but will remain through the end of the year to assist with the transition. Arthur and Zamani both declined interview requests.
Quarterly Financial Performance
Inspirato's third-quarter report showed a 20% decline in revenue compared to the same period in 2024, generating $55 million in revenue but incurring a $4.5 million loss. The membership base fell from 12,400 to 10,700, a 13% decrease.
- Occupancy rate for homes and partner hotels dropped from 73% to 56%
- Average daily rates increased by $300, partially offsetting lower occupancy
- The company highlighted a 97% year-over-year increase in EBITDA and operating cash flow
"On December 12, 2024, the day before Zamani became CEO and Inspirato’s largest shareholder, its stock closed at $4.46 a share."
Summary: Inspirato faces leadership instability and declining financial results as it searches for a new CFO amid drops in revenue, membership, and occupancy, despite gains in operating metrics.