Inspirato CEO Payam Zamani is now searching for the third chief financial officer of his 15-month tenure at the luxury travel club.
Michael Arthur, who has held the CFO role since October 2024, announced his intent to resign from the Denver-based company earlier this week. He replaced Robert Kaiden, who started as Inspirato’s CFO in March 2023.
Arthur declined an interview request. Inspirato said he’ll stay on the rest of the year to help with the transition. Zamani also declined a request for comment.
Inspirato announced the resignation at the same time it released its third-quarter earnings, which showed revenue dropped 20% compared with the same quarter in 2024. The company said it lost $4.5 million on $55 million in revenue.
Inspirato ended the quarter with 10,700 members, down 13% from 12,400 a year earlier. The occupancy rate for its homes and affiliate hotels also dropped from 73% to 56% during that same period, although a $300 increase in average daily rates made up some of the difference.
In a news release, Inspirato touted a 97% increase in year-over-year EBITDA (earnings before interest, taxes, depreciation and amortization) and operating cash flow.
On Aug. 12, 2024, the day before Zamani became CEO and Inspirato’s largest shareholder, its stock closed at $4.46 a share. Inspirato shares finished trading at $2.51 Thursday. Shares fell about 1.5% the day after the company reported its latest quarterly earnings.
The price remains below the $3.50 a share takeover offer Exclusive Resorts, a fellow Denver-based vacation company, made for Inspirato in September. Inspirato declined that takeover bid, which was started by Inspirato founders and brothers Brent and Brad Handler, who are in a legal battle with Inspirato over a lavish vacation perk.
That takeover bid came amid a since-scrapped plan to merge Inspirato with Buyerlink, a digital marketing firm that Zamani also owns. The deal, which was agreed on in June, fell apart after a minority investor said it “reeks of self-dealing” by Zamani, something he has denied.
Arthur’s resignation follows a string of exits for high-ranking Inspirato employees this year.
David Kallery, the company president for over a decade, was “separated” from Inspirato in April. Julie Wainwright, a board member who came on last October, told Inspirato she was leaving early last month, though she will stay on until she can be replaced, according to SEC filings.
Brandon Cassagnol, who was the vice president of experience and operations, announced his departure from the company last week on LinkedIn after 10 years with the business.
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