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Breaking: Silicon Valley Bank collapse – what it means for the STR sector
Reading Time: 6 minutesWorldwide: The governments and banking institutions in the United States and UK have stepped in to reassure people and businesses exposed to the collapse of Silicon Valley Bank [SVB] and its UK arm that their deposits are secure and resolutions will not put the taxpayer at risk.
Sonder reduces workforce by 14 per cent in latest layoff round
Reading Time: 2 minutesUS: Short-term rental lodging firm Sonder is making around 100 corporate employees redundant, amounting to close to 14 per cent of the startup’s overall workforce.
Sonder expands footprint in Dubai
Reading Time: 2 minutesUAE: Next-generation lodging firm Sonder is set to expand its footprint in Dubai later this year by opening a 401-unit property at Business Bay.
Sonder makes sweeping job cuts in company restructuring
Reading Time: 2 minutesUS: Next-generation lodging firm Sonder has announced a restructuring across its organisation, which will trigger the laying off of 21 per cent of its corporate team and seven per cent of its frontline staff.
IHM Recharge 2022: Sam Barrell, Sonder
Reading Time: < 1 minuteFrance: Sonder’s Sam Barrell discusses his company’s launch in France, the blurring of asset classes, and his highlights of IHM’s Recharge 2022 event in Paris.
Sonder closes SPAC merger to go public
Reading Time: 2 minutesSonder has gone public via a business combination with special purpose acquisition company [SPAC] Gores Metropoulos II.
Sonder moves step closer to January SPAC merger
Reading Time: 2 minutesUS: Next-generation lodging company Sonder has moved a step closer to going public in January after a registration statement was filed in connection with the proposed business combination between Sonder and special purpose acquisition company [SPAC] Gores Metropoulos II. The amended registration statement was filed with the US Securities and Exchange Commission on 20 December […]
Sonder downgrades valuation expectations to $1.9bn for SPAC
Reading Time: 2 minutesUS: San Francisco-based short-term rental lodging startup Sonder is downgrading its valuation estimate from $2.2 billion to $1.925 billion ahead of its proposed merger deal with special purpose acquisition company [SPAC] Gores Metropoulos II due to a “strategic revision of the transaction terms”. Sonder, which announced in April that it was set to go to […]
Sonder expands into France with Paris debut
Reading Time: 2 minutesFrance: Next-generation lodging company Sonder has expanded into France after acquiring the management and operations of Hotel Atala in Paris. The 48-bedroom property, located close to the Champs-Elysées, features several suites with views of the Eiffel Tower, a garden and terrace, as well as work from notable artists displayed throughout. To oversee Sonder’s operations and […]
Sonder adds to board of directors to prepare for public listing
Reading Time: 2 minutesUS: San Francisco-based next-generation lodging company Sonder has announced new appointments to its board of directors in preparation for its prospective public listing. Frits van Paasschen, current member of the board and former Starwood Hotels president and CEO, has been named lead independent director, having served on Sonder’s board since February 2020. Janice L. Sears, […]