HotelTonight, a leader in same-day booking apps, has laid off 20 percent of its staff, citing a necessary company realignment. Though company CEO Sam Shank told Fortune the company is on “strong financial footing,” and that hotel bookings are growing 100 percent annually, the instant-booking app is being streamlined and expects to continue appointing key roles. While the instant booking market continues to thrive, competition is getting more intense, with TripAdvisor and Google introducing similar products. Whether the fiercer competition inspired a change in the company’s business plan remains a mystery, but Tnooz notes that just last year, HotelTonight changed its format to allow flexible booking in order to adapt to the changing landscape. To learn more, click here.
