RV Business

EDEN PRAIRIE, Minn. – Winnebago Industries, Inc. (NYSE: WGO), a leading outdoor lifestyle product manufacturer, is proud to showcase the latest innovation from its marine brands, Barletta Pontoon Boats and Chris-Craft at the Fort Lauderdale International Boat Show in Fort Lauderdale, FL, October 30 – November 3.

Barletta, the fastest-growing pontoon boat maker in the segment, will feature a line-up of Coastal Edition premium pontoons, ready for big water, including the industry’s first and only center-mounted twin-engine pontoon boat, while Chris-Craft, America’s Boatbuilder since 1874, will showcase its latest innovations including the consumer debut of its Launch 35 GT wake/surf edition and newly launched, family-friendly Sportster series.

“At Winnebago Industries, our commitment to quality and elevating outdoor experiences drives everything we do,” said Amber Holm, Winnebago Industries’ Chief Marketing Officer. “The products on display in Fort Lauderdale represent both Chris-Craft’s and Barletta’s customer-centric design process. Our brands combine expert craftsmanship and technology in ways that delight our customers as they create connections and memories on the water.”

Chris-Craft
Chris-Craft is building on its 150-year legacy of purposeful innovation and excellence with several key products highlighted at the show, including the Sportster series: an exciting, next-generation offering that combines classic craftsmanship and design with modern flair to create a new experience for adventure seekers and water sports enthusiasts.

While the Sportster series is designed to introduce Chris-Craft to a new market, the boats are built to all the same quality and design standards for which Chris-Craft is known. Every step of the design process was carefully considered to deliver value without sacrificing premium quality and luxury. The Sportster series currently includes two models, a 25ft and 28ft, with the 28ft version on display in the water at the show. The Sportster series will be available in sterndrive, surf, and outboard propulsion options, with the outboard versions being released in early 2025.

Chris-Craft will also feature the surf edition of its Launch 35 GT runabout. The flagship of its series, the Launch 35 GT blends cutting-edge features with the classic design and styling that make it uniquely Chris-Craft. This luxurious runabout is the perfect choice for a variety of water activities, including hosting family and friends or water sports.

Chris-Craft’s category defining line-up can be seen in the water at the show by visiting the Bahia Mar Yachting center, C-Dock 315-319. Learn more at ChrisCraft.com.

Barletta Pontoon Boats
Barletta, one of the fastest growing pontoon boat brands in the market, is widely recognized for its pioneering products, securing innovation awards from the National Marine Manufacturers Association, three out of the last six years.

At the Fort Lauderdale show, Barletta will showcase one of those award winners, its new twin engine series. The two engines are mounted in the center of the transom, a meaningful departure from the industry standard in the pontoon boat segment, where twin engines are typically mounted on the outer tubes. By moving the engines to the center, Barletta achieves significant performance and functionality improvements, including providing an unparalleled smooth and powerful ride, while creating a safe and usable space at the stern of the boat.

Barletta will also highlight its luxury Leggera product line with an all-new redesigned helm station equipped with two Simrad displays, Harmon Kardon audio system and distinctive RBG lighting.

Show attendees are encouraged to visit the Barletta team by visiting booth 2069 in the Broward Convention Center where they can see Barletta’s line-up of coastal water capable pontoons, now with standard JBL sound systems for model year 2025. Learn more at BarlettaPontoonBoats.com.

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Black Book, which publishes a family of vehicle appraisal guides, has released the Black Book RV market commentary for November.

“The average values for Motorhomes and Towables sold at auction fell slightly once again last month.  This is the second consecutive month of decreases across the board, which more than likely indicates the beginnings of a return to normal seasonal patterns.  As more new 2025 models continue to arrive on dealer’s lots we expect used values to trend downward as we head into colder weather,” reported Eric Lawrence, Black Book principal analyst – specialty markets.

Taking a closer look at the markets, we see that the average selling price for motorized units was $65,973, which is down $2,226 (3.4%) from the previous month.  Towables came in at $18,736, down $312 (1.6%) from last month.  One year ago the average motorhome sold for $61,575 and the average towable unit brought $20,138.

Auction volume was mixed: motorhomes increased 18.2% while towables decreased 0.9%. 

The average age of motorhomes was eight years old (2016) and towables was five (2019).

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LINCOLNSHIRE, Ill. – Camping World Holdings Inc. (NYSE:CWH) announced today a proposed offering of $300.0 million of its Class A common stock pursuant to a registration statement filed on Form S-3 with the Securities and Exchange Commission. Additionally, the company intends to grant the underwriters a 30-day option to purchase up to an additional $45.0 million of Class A Common Stock.

The proceeds of the offering will be used by Camping World to purchase common units directly from CWGS Enterprises LLC, at a price per unit equal to the public offering price per share of Class A common stock in the offering, less the underwriting discounts and commissions. CWGS, LLC intends to use the net proceeds from the sale of common units to Camping World for general corporate purposes, including strengthening the balance sheet, working capital for growth and debt pay down.

Camping World also announced today the pricing of an underwritten public offering of 14,634,146 shares of its Class A common stock at a public offering price of $20.50 per share pursuant to a registration statement filed on Form S-3 with the Securities and Exchange Commission.

Additionally, the company has granted the underwriters a 30-day option to purchase up to an aggregate of 2,195,121 additional shares of Class A common stock. The proceeds of the offering will be used by Camping World to purchase 14,634,146 common units (or 16,829,267 common units if the underwriters exercise their option in full to purchase additional shares of Class A common stock) directly from CWGS Enterprises LLC, at a price per unit equal to the public offering price per share of Class A common stock in the offering, less the underwriting discounts and commissions.

The closing of the offering is expected to occur on Nov. 1 subject to the satisfaction of customary closing conditions.

Goldman Sachs & Co. LLC and J.P. Morgan are serving as joint lead book-running managers and as representatives of the underwriters for the offering. BofA Securities, Wells Fargo Securities, KeyBanc Capital Markets, BMO Capital Markets and Baird are also acting as joint book-running managers for the offering.

The offering is being made pursuant to a shelf registration statement on Form S-3 that was filed with the SEC on Oct. 30 and was effective upon filing. The offering is being made only by means of a written prospectus supplement and the accompanying base prospectus that forms a part of the registration statement.

A preliminary prospectus supplement relating to the offering (including the accompanying base prospectus) was filed with the SEC on October 30, 2024, and a final prospectus supplement will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. A copy of the final prospectus supplement may also be obtained, when available, from any of the following sources:

• Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 866-471-2526 or by email at [email protected] ; or
• J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at [email protected] and [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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ELKHART, Ind. – Patrick Industries, Inc. (NASDAQ: PATK), a leading component solutions provider for the Outdoor Enthusiast and Housing markets, today reported financial results for the third quarter and nine months ended Sept. 29.

Third Quarter 2024 Highlights (compared to Third Quarter 2023 unless otherwise noted)

• Net sales increased 6% to $919 million driven by a 13% increase in Housing revenue and our first quarter acquisition of Sportech, which together more than offset a 21% decline in Marine revenue.
• Operating margin decreased 10 basis points to 8.1%. For the first nine months of 2024, adjusted operating margin improved 20 basis points to 7.8%.
• Net income increased 3% to $41 million. Diluted earnings per share of $1.80 included the dilutive impact of our convertible notes and related warrants in the period, or an estimated $0.06 per share. For the first nine months of 2024, adjusted diluted earnings per share increased 13% to $5.75.
• Adjusted EBITDA increased 7% to $121 million; adjusted EBITDA margin increased 10 basis points to 13.2%.
• Cash flow provided by operating activities was $224 million for the first nine months of the year compared to $294 million in the same period last year. Free cash flow, on a trailing twelve-month basis, was $277 million.
• Completed the acquisition of RecPro, which significantly increases our penetration into the RV aftermarket, while also providing synergy opportunity for our Marine and Powersports end markets to sell through a more advanced aftermarket distribution channel.
• Maintained solid balance sheet and liquidity position, ending the third quarter with a total net leverage ratio of 2.6x following the acquisition of RecPro and liquidity of $458 million.
• Subsequent to quarter end, the Company amended and extended the maturity of its credit facility, and also issued $500 million aggregate principal amount of 6.375% Senior Notes due 2032. The Company plans to redeem its 7.500% Senior Notes due 2027 with a portion of the proceeds.
• Patrick plans to host an investor day in New York City on December 3, 2024.

Net sales increased 6% to $919 million, an increase of $53 million compared to the third quarter of 2023. The growth in net sales was due to a 13% increase in Housing revenue coupled with revenue gains from our Sportech acquisition, which closed in January of this year. These factors more than offset a 21% decline in Marine revenue as marine OEMs as well as OEMs across our other Outdoor Enthusiast markets continued to maintain highly disciplined production schedules in an effort to manage dealer inventory in alignment with current end market demand

Operating income of $74 million in the third quarter of 2024 increased $3 million, or 5%, compared to $71 million in the third quarter of 2023. Operating margin of 8.1% decreased 10 basis points compared to 8.2% in the same period a year ago, reflecting higher SG&A expenses and amortization costs related to acquisitions. For the first nine months of 2024 compared to the same period in 2023, excluding acquisition transaction costs and purchase accounting adjustments in both periods, adjusted operating margin improved 20 basis points to 7.8%.

Net income increased 3% to $41 million, compared to $40 million in the third quarter of 2023. Diluted earnings per share of $1.80 in the third quarter of 2024 included approximately $0.06 of dilution from our convertible notes and related warrants. There was no dilutive impact from the convertible notes in the third quarter of 2023. For the first nine months of 2024 compared to the first nine months of 2023, excluding acquisition transaction costs and purchase accounting adjustments in both periods, adjusted net income increased 14% to $128 million and adjusted diluted earnings per share increased 13% to $5.75. Diluted earnings per share for the first nine months of 2024 included approximately $0.10 of dilution from our 2028 convertible notes and related warrants. The prior year period included approximately $0.05 of dilution related to our 1.00% Convertible Senior Notes due 2023, which were repaid in cash in February 2023. 

“The Patrick team delivered another quarter of solid results with revenue and net income growth supported by the continued diversification of our business,” said Andy Nemeth, Chief Executive Officer. “The resilience of our model is directly related to the dedication and talent of our incredible team members, and the strategic investments we have made enabling Patrick to perform well during a prolonged period of inventory destocking that has continued to affect our Outdoor Enthusiast end markets at different times over the last two years.”

Jeff Rodino, President — RV, said, “This quarter, we welcomed RecPro into our family of brands, which meaningfully expands our position in the direct-to-consumer RV and enthusiast aftermarket. We are energized by the depth and breadth of their product offering, the synergies across our business, and their tremendous leadership and expertise in e-commerce and aftermarket sales. We believe RecPro’s efficient distribution channel and significant consumer reach will substantially enhance our ability to provide Patrick’s valuable aftermarket solutions across all of our end markets.”

Third Quarter 2024 Revenue by Market Sector
(compared to Third Quarter 2023 unless otherwise noted)

RV (43% of Revenue)

• Revenue of $396 million decreased 1% while wholesale RV industry unit shipments increased 6%.
• Content per wholesale RV unit (on a trailing twelve-month basis) decreased by 1% to $4,887. Compared to the second quarter of 2024, content per wholesale RV unit (on a trailing twelve-month basis) decreased 2%.

Marine (15% of Revenue)

• Revenue of $136 million decreased 21% while estimated wholesale powerboat industry unit shipments decreased 23%. Our Marine end market revenue previously included Powersports revenue, which we began to report separately following the Sportech acquisition. End market revenue and content per unit reflect this change for the relevant periods.
• Estimated content per wholesale powerboat unit (on a trailing twelve-month basis) decreased 6% to $3,936. Compared to the second quarter of 2024, estimated content per wholesale powerboat unit (on a trailing twelve-month basis) was flat.

Powersports (10% of Revenue)

• Revenue of $87 million increased 204%, driven primarily by the acquisition of Sportech in the first quarter of 2024.

Housing (32% of Revenue, comprised of Manufactured Housing (“MH”) and Industrial)

• Revenue of $300 million increased 13%; estimated wholesale MH industry unit shipments increased 17%; total housing starts decreased 3%.
• Estimated content per wholesale MH unit (on a trailing twelve-month basis) increased 1% to $6,518. Compared to the second quarter of 2024, estimated content per wholesale MH unit increased 1%.

Balance Sheet, Cash Flow and Capital Allocation

For the first nine months of 2024, cash provided by operating activities was $224 million compared to $294 million for the prior year period, with the change primarily driven by investments in working capital. Purchases of property, plant and equipment totaled $18 million in the third quarter of 2024, reflecting maintenance capital expenditures and continued investments in alignment with our automation and technology initiatives. On a trailing twelve-month basis, free cash flow through the third quarter of 2024 was $277 million, compared to $412 million through the third quarter of 2023 when we aggressively monetized working capital in a declining sales environment. Our long-term debt increased approximately $70 million during the third quarter of 2024, primarily as the result of the RecPro acquisition, which closed on September 6, 2024.

We remained disciplined in allocating and deploying capital, returning approximately $12 million to shareholders in the third quarter of 2024 through dividends. We remain opportunistic on share repurchases and had $78 million left authorized under our current share repurchase plan at the end of the third quarter.

Our total debt at the end of the third quarter was approximately $1.4 billion, resulting in a total net leverage ratio of 2.6x (as calculated in accordance with our credit agreement). Available liquidity, comprised of borrowing availability under our credit facility and cash on hand, was approximately $458 million.

Subsequent to the end of the quarter, we reduced our cost of debt and increased our liquidity position by issuing $500 million of 6.375% Senior Notes due 2032 and expanding the capacity of our credit facility to $1.0 billion, while extending the maturity date to October 2029. We plan to use a portion of the proceeds from these transactions to redeem our 7.500% Senior Notes on November 7, 2024. Following these transactions, the Company’s next major debt maturity will be in 2028.  

Business Outlook and Summary

“Our team remains confident in the strength of our brand portfolio, disciplined operating model, earnings power of the business, and the profitable runway of opportunity that exists in each of our primary end markets,” continued Mr. Nemeth. “We are intensely focusing on elevating the customer experience, invigorating our team’s entrepreneurial spirit, winning additional market share by exceeding customer expectations, and growing the business through accretive acquisitions while strategically allocating capital toward automation and innovation initiatives. Over the last year, the teams at Patrick, in collaboration with our Advanced Product Group, have significantly expanded our product development and prototyping activities as a way to bring next-generation solutions to our customers over the next few years. We are optimistic that a positive demand inflection will occur in 2025, and believe recent interest rate reductions, lower inflation levels and continued solid economic data are important ingredients to bring this recovery to fruition, at which point our business is sized and scaled to pivot in alignment with our customers’ needs. We are deeply appreciative of the incredible commitment and dedication of our team members and energized by their efforts and drive each and every day.”

Conference Call Webcast

Patrick Industries will host an online webcast of its third quarter 2024 earnings conference call that can be accessed on the Company’s website, www.patrickind.com, under “For Investors,” on Thursday, October 31, 2024 at 10:00 a.m. Eastern Time. In addition, a supplemental earnings presentation can be accessed on the Company’s website, www.patrickind.com under “For Investors.”

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Changes are imminent on the Management Board of Knaus Tabbert AG, according to a release from the European RV manufacturer. The current CEO, Wolfgang Speck, is leaving the company Thursday, Oct. 31, 2024, for personal reasons. His duties will be taken over by the long‐standing COO and industry expert Werner Vaterl as interim CEO. Together with CSO Gerd Adamietzki, he will temporarily form the two‐member Knaus Tabbert Management Board team. The reappointment of the CFO position is already at an advanced stage.

Werner Vaterl started his career at Knaus Tabbert in 1992 as Head of Logistics and Plant Manager at the Jandelsbrunn site. Since 2013, the business graduate has successfully managed the company’s operational business as COO.

“We would like to thank Wolfgang Speck for his commitment over the past eleven years, during which he has developed Knaus Tabbert into one of the most successful motorhome manufacturers in Europe together with his colleagues on the Management Board,” said Dr Esther Hackl, Chairwoman of the Supervisory Board of Knaus Tabbert. “With Werner Vaterl, an experienced company and industry expert is now taking over his responsibilities. With him and his long‐standing Management Board colleague Gerd Adamietzki, who is responsible for sales, Knaus Tabbert is also well positioned for the current tougher market environment. In addition, the plans for reappointing the CFO role are well advanced.”

Knaus Tabbert AG is a leading manufacturer of leisure vehicles in Europe. The company’s headquarters are located in Jandelsbrunn, Germany. Its other locations can be found in Mottgers and Schlüsselfeld in Germany and in Nagyoroszi in Hungary.

The company has been listed in the Prime Standard segment of the Frankfurt Stock Exchange (ISIN: DE000A2YN504) since September 2020. In the year 2023 it generated sales of 1.44 billion euros with its KNAUS, TABBERT, T@B, WEINSBERG, MORELO brands and the RENT AND TRAVEL rental service, had over 4000 employees and produced more than 30,000 leisure vehicles.

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Changes are imminent on the Management Board of Knaus Tabbert AG, according to a release from the European RV manufacturer. The current CEO, Wolfgang Speck, is leaving the company Thursday, Oct. 31, 2024, for personal reasons. His duties will be taken over by the long‐standing COO and industry expert Werner Vaterl as interim CEO. Together with CSO Gerd Adamietzki, he will temporarily form the two‐member Knaus Tabbert Management Board team. The reappointment of the CFO position is already at an advanced stage.

Werner Vaterl started his career at Knaus Tabbert in 1992 as Head of Logistics and Plant Manager at the Jandelsbrunn site. Since 2013, the business graduate has successfully managed the company’s operational business as COO.

“We would like to thank Wolfgang Speck for his commitment over the past eleven years, during which he has developed Knaus Tabbert into one of the most successful motorhome manufacturers in Europe together with his colleagues on the Management Board,” said Dr Esther Hackl, Chairwoman of the Supervisory Board of Knaus Tabbert. “With Werner Vaterl, an experienced company and industry expert is now taking over his responsibilities. With him and his long‐standing Management Board colleague Gerd Adamietzki, who is responsible for sales, Knaus Tabbert is also well positioned for the current tougher market environment. In addition, the plans for reappointing the CFO role are well advanced.”

Knaus Tabbert AG is a leading manufacturer of leisure vehicles in Europe. The company’s headquarters are located in Jandelsbrunn, Germany. Its other locations can be found in Mottgers and Schlüsselfeld in Germany and in Nagyoroszi in Hungary.

The company has been listed in the Prime Standard segment of the Frankfurt Stock Exchange (ISIN: DE000A2YN504) since September 2020. In the year 2023 it generated sales of 1.44 billion euros with its KNAUS, TABBERT, T@B, WEINSBERG, MORELO brands and the RENT AND TRAVEL rental service, had over 4000 employees and produced more than 30,000 leisure vehicles.

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NOVI, Mich. – AL-KO Vehicle Technology, a business unit of DexKo Global, presents the AL-KO CarryNex family: a sophisticated modular chassis system for cargo-bike trailers, according to a release.

Trailers can significantly increase cargo bikes’ capacity – from city centers to company premises. To this end, AL-KO took its tried-and-tested chassis technology and made it more compact. The result is a modular chassis system with three variants to date. This means that body manufacturers for cargo-bike trailer can now offer their customers models that can carry payloads of up to 230 kilograms (507 pounds) with a gross vehicle weight of up to 300 kg (661 pounds).

As a leading brand manufacturer of trailer components, AL-KO is bringing its proven expertise to the world of sustainable mobility. Drawing on the knowledge it has built in the commercial trailer sector, the company is now offering attractive new products on the cargo bike market.

Their tried-and-tested components are both durable and reliable. The stable driving response and significantly increased trailer payload help cargo bike manufacturers to broaden their product range for last-mile deliveries as well as for intralogistics or municipal use: for sustainable professional applications right to your home or workshop door. After all, the transportation sector is driven and shaped by urbanization, digitalization and the reduction of emissions.

Inner-city and internal goods logistics are complex, affected by an array of different factors, such as time pressure, staff shortages and traffic congestion. Optimizing logistic processes puts wholesalers, retail traders and manufacturers as well as local authorities one step ahead of the competition and helps them retain this advantage into the future.

Cargo bike trailers are also attractive to the leisure and tourism industry: for transporting luggage, equipment and provisions, for example, for customers such as bike rental companies, campsite operators and tour providers – but also for ambitious recreational athletes for transporting a variety of outdoor equipment.

The real advantage, however, comes from the chassis’ variability. The modular chassis concept and flexible production process mean that a trailer can be adapted based on the individual customer’s needs and how they plan to use it.

The two-wheel design features a support so it can be safely parked and comes in two versions: one for speeds of up to 25 km/h and another for speeds of up to 60 km/h. In addition to the higher payload, the four-wheel version also comes with a steering axle to ensure towing agility. For safety, all three models are equipped with a handbrake and an overrun brake. The basic sizes are all designed to make it possible to transport Euro pallets.

About AL-KO Vehicle Technology Group

The AL-KO Vehicle Technology Group is a swiftly growing global technology group and a business unit of DexKo Global. With high- quality chassis and suspension components for trailers, leisure and commercial vehicles, construction and agricultural vehicles, the group represents the best in functionality and comfort as well as innovations to ensure greater driving safety. Founded in 1931 the group today has around 3,500 employees at more than 40 locations worldwide. Find out more at www.alko- tech.com

DexKo Global Inc. is one of the world’s leading manufacturers of high-quality chassis technology, chassis assemblies, accessories and hydraulic brake components. DexKo Global was founded in 2016 through the merger of Dexter and AL-KO Vehicle Technology. Headquartered in Novi, Mich., the company employs around 7,000 people in more than 100 pro- duction facilities and distribution centers. For more information, please go to www.dexko.com.

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AUSTIN, Texas and SURFERS PARADISE, Queensland – Newbook, a leading property management software provider for RV parks and campgrounds, today announced that it has named Harini Boppana as Vice President of Product and Simon Smith as its new Chief Growth Officer. These strategic hires underscore Newbook’s commitment to driving product innovation and scaling its business globally.

Harini Boppana joins Newbook from Okendo, where she served as Head of Product for two-and-a-half years. She brings over 15 years of experience transforming customer experiences at scale through technology products. She also has a deep engineering background and a proven track record of driving customer and revenue growth across enterprises, startups, and scale-ups.

Harini has led global teams in both the U.S. and Australia and holds domain expertise in a range of industries, including banking, consulting, hospitality, and e-commerce. She has also held senior product roles at SiteMinder, PwC and J.P. Morgan, where she developed strategies that boosted customer engagement and business performance.

“We’re beyond excited to welcome Harini to the team as we redefine the future of property management technology,” said Shaun Cornelius, CEO of Newbook. “Harini’s unparalleled expertise in crafting innovative, customer-focused products will accelerate our delivery and support our customers with world-class technology to drive their business.”

Simon Smith joins Newbook from its parent company Storable, where he spent the past three years as Senior Vice President of Revenue. With over 20 years of leadership in sales, operations, and growth strategy, he brings invaluable expertise to his role as Chief Growth Officer. Simon’s experience in scaling revenue-generating teams and driving cross-functional growth will be vital as Newbook continues its expansion. He has also held leadership positions at TrueCar, AutoNation, and CentralBDC, where he developed high-performing sales teams and implemented successful business growth strategies.

“Simon’s proven ability to ignite growth across diverse industries and build powerhouse teams makes him an invaluable addition to Newbook,” added Shaun. “His visionary approach and deep expertise will be game-changers as we accelerate our ambitious plans to scale and transform the market.”

With these new additions, Newbook is poised to accelerate its growth while continuing to offer world-class property management and booking software solutions that enhance the customer experience.

Harini and Simon will be connecting with the industry at forthcoming industry shows across the US and Australia such as OHCE2024 in Oklahoma City.

For more information about Newbook and its latest initiatives, visit https://www.newbook.cloud/.

Newbook, a part of the Storable family, is an award-winning property management and online booking system for accommodation providers. Founded in 2010, the company has scaled over the past 14 years into a global market leader with three international offices and over 50,000 users. Newbook’s mission is to build high-quality products delivered with passion, so customers can create memorable experiences.

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AUSTIN, Texas and SURFERS PARADISE, Queensland – Newbook, a leading property management software provider for RV parks and campgrounds, today announced that it has named Harini Boppana as Vice President of Product and Simon Smith as its new Chief Growth Officer. These strategic hires underscore Newbook’s commitment to driving product innovation and scaling its business globally.

Harini Boppana joins Newbook from Okendo, where she served as Head of Product for two-and-a-half years. She brings over 15 years of experience transforming customer experiences at scale through technology products. She also has a deep engineering background and a proven track record of driving customer and revenue growth across enterprises, startups, and scale-ups.

Harini has led global teams in both the U.S. and Australia and holds domain expertise in a range of industries, including banking, consulting, hospitality, and e-commerce. She has also held senior product roles at SiteMinder, PwC and J.P. Morgan, where she developed strategies that boosted customer engagement and business performance.

“We’re beyond excited to welcome Harini to the team as we redefine the future of property management technology,” said Shaun Cornelius, CEO of Newbook. “Harini’s unparalleled expertise in crafting innovative, customer-focused products will accelerate our delivery and support our customers with world-class technology to drive their business.”

Simon Smith joins Newbook from its parent company Storable, where he spent the past three years as Senior Vice President of Revenue. With over 20 years of leadership in sales, operations, and growth strategy, he brings invaluable expertise to his role as Chief Growth Officer. Simon’s experience in scaling revenue-generating teams and driving cross-functional growth will be vital as Newbook continues its expansion. He has also held leadership positions at TrueCar, AutoNation, and CentralBDC, where he developed high-performing sales teams and implemented successful business growth strategies.

“Simon’s proven ability to ignite growth across diverse industries and build powerhouse teams makes him an invaluable addition to Newbook,” added Shaun. “His visionary approach and deep expertise will be game-changers as we accelerate our ambitious plans to scale and transform the market.”

With these new additions, Newbook is poised to accelerate its growth while continuing to offer world-class property management and booking software solutions that enhance the customer experience.

Harini and Simon will be connecting with the industry at forthcoming industry shows across the US and Australia such as OHCE2024 in Oklahoma City.

For more information about Newbook and its latest initiatives, visit https://www.newbook.cloud/.

Newbook, a part of the Storable family, is an award-winning property management and online booking system for accommodation providers. Founded in 2010, the company has scaled over the past 14 years into a global market leader with three international offices and over 50,000 users. Newbook’s mission is to build high-quality products delivered with passion, so customers can create memorable experiences.

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The U.S. Forest Service is a federal agency that manages 193 million acres of land, an area about the size of Texas. Next year, the agency will have to manage that land without its seasonal workforce, according to a report by Backpacker magazine.

In September, the agency announced that it would be suspending all seasonal hiring for the 2025 season, a decision that will cut about 2,400 jobs. Nearly all of those positions are field-based jobs, ranging from biologists and timber workers to trail technicians and recreation staff. In addition, the agency is freezing all external hiring for permanent positions. The only exception to the hiring freeze are the roughly 11,300 firefighters hired by the agency every year.

According to the agency and its partners, the effects of these staffing cuts will be far-ranging and severe. In the Sept. 17 all-employee call where he announced the hiring freeze, Forest Service Chief Randy Moore said “We just can’t get the same work done with fewer employees.” Though the Forest Service has been shedding jobs for decades — about 8,000 jobs in the last 20 years, Moore said — this will be the largest single-year staff cut in recent memory.

Click here to read the full report by Backpacker magazine.

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