Inspirato CFO resigns amid lackluster quarterly earnings

Inspirato CEO Payam Zamani is now searching for the third chief financial officer of his -month tenure at the luxury journey club Michael Arthur who has held the CFO role since October disclosed his intent to resign from the Denver-based company earlier this week He replaced Robert Kaiden who started as Inspirato s CFO in March Arthur declined an interview request Inspirato commented he ll stay on the rest of the year to help with the transition Zamani also declined a request for comment Inspirato reported the resignation at the same time it issued its third-quarter earnings which revealed revenue dropped compared with the same quarter in The company noted it lost million on million in revenue Inspirato ended the quarter with members down from a year earlier The occupancy rate for its homes and affiliate hotels also dropped from to during that same period although a increase in average daily rates made up selected of the difference In a news release Inspirato touted a increase in year-over-year EBITDA earnings before interest taxes depreciation and amortization and operating cash flow On Aug the day before Zamani became CEO and Inspirato s largest shareholder its stock closed at a share Inspirato shares finished trading at Thursday Shares fell about the day after the company published its latest quarterly earnings The price remains below the a share takeover offer Unique 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 Related Articles Brookfield Properties sells downtown Denver office towers at M loss Cherry Creek office building sells for big gain No City of Denver bailout for investors who bet on risky metro district bonds Editorial Following last year s closure er Brewing to move from Denver s RiNo to Chaffee County After bankruptcy a Colorado apparel company rebuilt in Vietnam 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 stated 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 recounted 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 stated his departure from the company last week on LinkedIn after years with the business Read more from our partner BusinessDen Get more business news by signing up for our Financial sector Now newsletter