The Montreal-founded short-term rental company announced a “complete winding down” of its operations, as well as a plan to initiate a bankruptcy sale of its U.S. assets. The move comes a day after Marriott terminated its 2024 licensing agreement. The Maryland-based hotel chain claimed Sonder defaulted. (The Logic)
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The Montreal-founded short-term rental company announced a “complete winding down” of its operations, as well as a plan to initiate a bankruptcy sale of its U.S. assets. The move comes a day after Marriott terminated its 2024 licensing agreement. The Maryland-based hotel chain claimed Sonder defaulted. (The Logic)
Talking point: Sonder hinted that it had long struggled to integrate its booking and reservation systems with Marriott, resulting in “severe financial constraints” for the company. Founded in 2014, Sonder notably weathered the COVD-19-era collapse in demand for short-term accommodation, in part through strategic layoffs and VC-backed cash infusions. On Sunday, guests staying at Sonder properties were told to depart immediately.
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