artyboy123
Senior Member
"Sonder has faced severe financial constraints arising from, among other things, prolonged challenges in the integration of the Company’s systems and booking arrangements with Marriott International. On Sunday, November 9, 2025, Marriott International announced that it had terminated its licensing agreement with Sonder, deeming it no longer in effect. The Company made comprehensive efforts to evaluate all financing and other strategic alternatives, including a sale of its business and operations, to improve its financial condition. As part of those efforts, the Company engaged numerous strategic and financial parties but ultimately was unable to execute a viable going concern transaction for its business and operations or obtain additional liquidity. In light of these unsuccessful efforts and the Company’s financial condition, the Board of Directors made the difficult decision to wind down operations and pursue a court-supervised liquidation of the U.S. business immediately."
I wrote a quick reflection piece saying how Sonders...once the rival to Airbnb!
A really sad day for Canada’s hospitality and travel industry. The news came as a big shock on November 11!
The pinnacle Canadian brand started out of Montreal, it was seen as a major success story — backed by top proptech investors and often mentioned in Toronto real estate circles as a case study for innovation in hospitality.
But with fast expansion and tight cash flow, the company eventually had to partner with a major hotel chain through its rewards program.
A tough reminder of how challenging the hospitality business can be, even for the most promising startups!
@AlbertC @Northern Light @Mihairokov @GenerationLee - I know the you all must have a strong opinion about short term rental businesses!
