Matt Stuart to leave Stuba after almost three decades

Stuba co-founder Matt Stuart is to step down after almost three decades with the global accommodation specialist.

His departure "follows two years of progress made in integrating teams, systems, and processes" following Stuba’s acquisition by the South Korean Yanolja Go Global group , “creating a solid foundation for future growth”.

A company statement said: “With this integration successfully underway and the business well-positioned for its next phase, Matt has decided the time is right to hand over leadership.”

Stuba will continue to operate as normal, with its leadership team and the wider Yanolja Go Global group “ensuring continuity, stability and ongoing innovation” for partners worldwide.

Commenting on his departure, Stuart said: “This business has been an incredible journey from a small operation run by fax machine to a global company serving partners around the world. I’m unbelievably proud of what has been built and, more importantly, the talented people behind it.

“With Stuba now part of Yanolja Go Global and in such a strong position for the future, I feel confident that this is the right time to step aside.

“The business is in excellent hands with a highly skilled and experienced management team, and I’m excited to see it continue to grow and succeed. I look forward to pursuing new projects and the next chapter ahead.”

Stuart started his career in 1998 aged 20, when he took over Key Resorts, a small, two-person operation specialising in Florida hotel bookings for UK travel agents, run largely via fax machine.

At the time, the business was facing closure following a disagreement between its founders, with annual sales of approximately £250,000.

The business steadily expanded and by 2001, UK and European hotel contracts had been introduced, alongside the launch of its first online booking platform.

The company broadened its global offering in 2005 and rebranded as getabed, reflecting its growing international reach.

In 2013 getabed opened its first overseas office in Dubai, marking expansion into new distribution markets.

The company the joined forces with India-based partners Ruchir and Anuj Bang of RoomsXML in 2018, forming what is now known as Stuba.

By 2024, Stuba had grown into a global organisation of 220 employees across four operational offices, generating revenues of more than £180 million.

The business was subsequently acquired by Yanolja Go Global, part of Yanolja Group, a leading global B2B travel distribution platform.