Under the agreement, 9,000 units operated by the Montreal-founded, San Francisco-based short-term rental platform will join the Marriott portfolio by the end of 2024, with roughly 1,500 more to be added at later dates. The company also secured about US$146 million in liquidity, including US$83 million from existing noteholders. (The Logic)
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Under the agreement, 9,000 units operated by the Montreal-founded, San Francisco-based short-term rental platform will join the Marriott portfolio by the end of 2024, with roughly 1,500 more to be added at later dates. The company also secured about US$146 million in liquidity, including US$83 million from existing noteholders. (The Logic)
Talking point: Sonder shares closed up 130 per cent, to US$6.04, on the Nasdaq. In March, the company delayed its 2023 earnings report and said restatements would correct accounting errors in 2022 and 2023, leading to an increase in its overall net loss and loss per share. Sonder was founded by McGill University alum Francis Davidson in 2014 after non-traditional accommodations became more popular with the rise of Airbnb.
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