Sonder Hotels Liquidation Exposes Limits of Tech-First Hotel Models
💸 Sonder, once valued at $2.2 billion after its 2022 SPAC public listing, entered liquidation in 2025 following a failed asset-heavy model and a collapsed Marriott partnership. Attempts to integrate with Marriott's systems were costly, leading to revenue cuts and mounting losses. The Nasdaq delisted Sonder by 2024. In November 2025, Marriott ended their partnership, prompting Sonder’s Chapter 7 bankruptcy. This collapse underscores the risks of tech-heavy branding in operationally intensive sectors and shifts investor focus to hybrid, asset-light models.
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