Remote Year Shuts Down Despite New Owners’ Earlier Promises of a Bright Future

Summary

A Skift article by Rafat Ali dated December 21st, 2024 at 7:24 AM EST, headed Remote Year Shuts Down Despite New Owners' Earlier Promises of a Bright Future. It says Remote Year, the travel startup that pioneered month-to-month work-and-travel programs, is shutting down after nearly a decade in operation. The company's statement on its website cites circumstances beyond its control and blames new ownership, Collective Hospitality, which it says blocked its last opportunity to continue. The article says the closure comes just four months after Collective Hospitality, a Singapore-based hospitality group, acquired Remote Year as part of its purchase of Selina. It names Gary Murray as CEO of Destination Group, the parent company of Collective Hospitality.

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Remote Year Shuts Down Despite New Owners’ Earlier Promises of a Bright Future

Rafat Ali

December 21st, 2024 at 7:24 AM EST

Skift Take

Remote Year was a small but pioneering company, innovating on the edges over the years. Sad to see it come to an end.

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Remote Year, the travel startup that pioneered month-to-month work-and-travel programs, is shutting down after nearly a decade in operation. The company shared the news in a statement on its website, citing “circumstances beyond our control” and attributing the closure to new ownership, Collective Hospitality, which it says “blocked our last opportunity to continue.”

The abrupt end comes just four months after Collective Hospitality, a Singapore-based hospitality group, had acquired Remote Year as part of its purchase of struggling hostel-and-hotel operator Selina. At the time, Gary Murray, CEO of Collective Hospitality’s parent company Destination Group, touted Remote Year as a “fabulous business” and signa

Key Points

- Remote Year, a travel startup for digital nomads, is shutting down due to decisions from its new owner, Collective Hospitality.
- Collective Hospitality acquired Remote Year as part of a purchase of Selina's distressed portfolio, but plans to grow the brand didn't materialize.
- Remote Year fostered a strong community among digital nomads, and its closure raises questions about the future of co-working travel programs.

Summary

Remote Year, a pioneering travel startup for digital nomads, is shutting down following its acquisition by Collective Hospitality, which blocked efforts to continue operations. The company's closure comes after Selina, its previous owner, faced financial difficulties and was acquired by Collective Hospitality in a fire sale. Despite Remote Year's significant community impact, the future of co-working travel programs remains uncertain as the digital nomad market evolves.

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