Short-term rentals company Sonder plans to file for bankruptcy, after Marriott International said a licensing agreement between the two companies had ended under which Sonder hotels were bookable via Marriott’s Bonvoy website.
In its own statement on Monday, Sonder said it made “comprehensive efforts” to improve the company’s finances following Marriott’s announcement, but the Board of Directors decided to wind-down operations and pursue a court-supervised liquidation of the U.S. business immediately.
Sonder was valued at $1.9 billion at the time of its IPO, but now plans to file insolvency proceedings abroad too. Sonder London, Glasgow & Dublin was previously an ASAP Operator Member until earlier this year.
