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Hotel operator Sonder ceasing operations after being dumped by Marriott

by AONews••0
sonder-osage

Marriott terminates licensing agreement with lodging rentals company Sonder

Nov 9 (Reuters) – Hotel operator Marriott International (MAR.O), opens new tab on Sunday said its licensing agreement with lodging rentals company Sonder (SOND.O), opens new tab has been terminated due to a default from Sonder.
Sonder, which provides apartment-style accommodations, signed an agreement with Marriott in 2024 that sent its shares skyrocketing.
Under the deal, Sonder enhanced its liquidity profile by about $146 million, with over 9,000 units expected to join the Marriott system by the end of 2024.
Under the deal, Sonder enhanced its liquidity profile by about $146 million, with over 9,000 units expected to join the Marriott system by the end of 2024.

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