Articles tagged “sonder”

The Lyric short-term rental brand is resurfacing as the capital environment sobers up, and the industry learns to be patient about scale and growth.

Given that hotels and short-term rentals are competing for the same target audience, one cannot ignore the competitive dynamics between these two industries.

Sonder and Vacasa, both of which face potential delistings in 2023, gave their CEOs pay packages worth $21 million and $13 million, respectively, over the coming years. As these things go, that's ample motivation to improve performance.

Like Sonder, Vacasa is another example of a company that went public way too early via a special purpose acquisition company, or SPAC, merger.

Today's edition of Skift's daily podcast looks closer at Premier Inn's expansion into the German hotel space, Sonder's delisting notice from Nasdaq, and Saudi Arabia's focus on regional hotel development.

That Sonder's business has been struggling is not news, but a potential delisting of the stock could be a warning sign for other struggling companies in the industry that went public prematurely.

Despite a couple of rounds of layoffs since the middle of last year, Sonder hired 97 new, non-executive employees, and gave them all stocks options, as is the company's practice.

Private Equity restructuring for some short-term rental companies may be welcome — even as it means change of management, possible furloughs and cutting parts of the business. Analysts warn against spelling doom against the entire industry, however, demand still remains strong.

Sonder, the property management company that went public through a blank check merger, or SPAC, found someone to replace its outgoing chief financial officer with the help of 2.7 million…

In an amazing recovery from over 700 points down, the DJIA ended the day down only 280 points while Nasdaq rallied to end up 6. Vacasa’s stock price plunged well into penny stock category, joining Sonder, before recovering somewhat, ending the day down -25%.