Latest news with #FrancisDavidson
Skift
30-06-2025
- Business
- Skift
Selina and Sonder: Lessons From the Downfall of 2 Innovative Brands
Sonder showed us how far you can push tech and design in urban hospitality. Selina pioneered community-driven, affordable stays for new generations of travelers. Both deserve more than a footnote on innovation in travel. Above is a video diary I posted on LinkedIn, exploring the strategies of Selina and Sonder, two pioneers in hospitality. Both taught us lessons about blending tech, design, and community, and where that mix can go wrong. It's a pity that both have flamed out, the latest being Sonder, whose founder Francis Davidson just exited the company. Selina barely exists. In the post, I dive into what each did brilliantly, where they stumbled, and how future travel brands can build on their trailblazing work with stronger economics and operations. Give a listen to hear why these two 'S' brands deserve more than a footnote in hospitality history. If you aren't able to view the video prop
Yahoo
27-06-2025
- Business
- Yahoo
Sonder CEO steps down following Marriott integration
This story was originally published on Hotel Dive. To receive daily news and insights, subscribe to our free daily Hotel Dive newsletter. Sonder co-founder Francis Davidson stepped down from his role as CEO of the company, the accommodations provider announced Wednesday. Davidson will also give up his position as a member of the company's board of directors. Sonder Chairperson of the Board Janice Sears is now interim CEO. The company's board intends to start its search for a permanent CEO immediately, according to Sonder. Over the course of his tenure, Davidson grew Sonder into a hospitality brand serving millions of guests across more than 40 markets in nine countries, but the company also encountered legal and operational challenges. The completion of the company's integration into Marriott International makes now the right time for a leadership transition, according to Sonder. While serving as interim CEO, Sears will continue to hold her role as chairperson of Sonder's board, which 'is focused on identifying an outstanding executive' to be Sonder's next CEO and 'capitalize on the positive trends we are seeing across the business,' Sears said in a statement. Sears has served on Sonder's board since 2021, and became chairperson earlier this year. Previously, Sears held a variety of roles over 20 years at Bank of America Securities, and concurrently served as the San Francisco market president for Bank of America. Sears said that Davidson's 'entrepreneurial spirit and visionary leadership have made Sonder into the global company and recognizable brand it is today.' Sonder entered into a strategic licensing agreement with Marriott last August that added some 9,000 of its rooms to Marriott's portfolio. Experts told Hotel Dive last year that the deal could offer relief to Sonder stakeholders after the company's stock price fell in March 2024 in the wake of 'accounting errors' identified in its 2022 and 2023 financial statements. The company also was the subject of a class action lawsuit filed on behalf of investors in June 2024. Since the partnership with Marriott was announced, Sonder has named Michael Hughes CFO to 'significantly strengthen' the company's balance sheet, as well as planned layoffs and cost-cutting measures. Sonder did not immediately respond to a Hotel Dive request for further comment. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Skift
26-06-2025
- Business
- Skift
Sonder CEO Davidson Exits, Chairperson Named Interim Boss
This move was a long time in the making. Sonder needs a big reset. Sonder announced Wednesday that co-founder and CEO Francis Davidson stepped down from that role and from the board, marking the end of a decade-long run leading the hospitality startup. Davidson's departure comes as Marriott is poised to implement a 20-year strategic licensing deal with Sonder, which would integrate Sonder's apartment and hote
Yahoo
16-04-2025
- Business
- Yahoo
Sonder cuts costs, plans layoffs ahead of Marriott tie-in
This story was originally published on Hotel Dive. To receive daily news and insights, subscribe to our free daily Hotel Dive newsletter. Accommodations provider Sonder Holdings announced $50 million in annualized cost reductions and the sale of $18 million in Series A shares as the company finalizes its integration into Marriott International's network, according to a Monday release. The San Francisco-based firm will reduce costs via layoffs, savings on software and 'other efficiencies' in conjunction with the integration. The company declined to share further details, including the number of layoffs planned, with Hotel Dive. Sonder, which entered into a partnership with Marriott last August, expects all of its properties will be live on Marriott channels by the end of the second quarter. Sonder said at the time of the partnership announcement that it added $146 million in additional liquidity to the firm, following legal and operational challenges that dampened shareholder value last year. According to Sonder co-founder and CEO Francis Davidson, the company is 'right-sizing our organization for the next era of Sonder' as the Marriott integration nears completion. 'The integration with Marriott is expected to enhance the positive RevPAR and profitability trends that our portfolio has already experienced over the last several months,' Davidson said in a statement. By the end of the second quarter, all Sonder properties will be available on Marriott digital channels, including and the Marriott Bonvoy app, under the 'Sonder by Marriott Bonvoy' collection, according to the announcement. The first phase of the integration was completed in October 2024, when properties were added to the Marriott Bonvoy system. Sonder expects the partnership to increase revenue and power future growth, according to an August release. Through the tie-in, Marriott adds thousands of Sonder rooms — primarily apartment-style accommodations in urban markets — to its pipeline and portfolio. Sonder, meanwhile, benefits from Marriott's distribution, loyalty program and sales capabilities. Previously, the company's stock price fell last March after the firm identified 'accounting errors' in its fourth-quarter and full-year 2023 financial results. The upcoming round of layoffs follows Sonder terminating 17% of its corporate workforce to cut costs in February 2024, according to a filing with the U.S. Securities and Exchange Commission. In August, experts told Hotel Dive that the partnership would create value for both companies, with Marriott boosting its net rooms growth and diversifying its real estate holdings.
Associated Press
14-04-2025
- Business
- Associated Press
Sonder Holdings Inc. Announces Capital Raise and Provides Update on Integration with Marriott International, Inc.
SAN FRANCISCO--(BUSINESS WIRE)--Apr 14, 2025-- Sonder Holdings Inc. (Nasdaq: SOND) ('Sonder' or the 'Company') today announced a series of actions intended to strengthen its balance sheet and generate significant cost savings, and provided an update on its integration with Marriott International, Inc. (Nasdaq: MAR) ('Marriott'): 'These events are expected to bring us closer to completing our transformation. The integration with Marriott is expected to enhance the positive RevPAR and profitability trends that our portfolio has already experienced over the last several months,' said Francis Davidson, Co-Founder and CEO of Sonder. 'With the integration nearing completion, we are capitalizing on these opportunities and right-sizing our organization for the next era of Sonder. With the implementation of substantial cost savings and approximately $18 million of additional capital, we believe that Sonder is well positioned to support long-term value creation.' Marriott Integration Update Sonder anticipates the full Marriott integration will be completed by the end of the second quarter of 2025, at which time all Sonder properties will be available on Marriott's digital channels, including and the Marriott Bonvoy® mobile app under the new 'Sonder by Marriott Bonvoy' collection, and are expected to benefit from access to Marriott's global sales organization and third-party agreements. Sonder's properties will also continue participating in the highly regarded Marriott Bonvoy® travel platform with nearly 228 million members, which began in October 2024 after the first phase of integration was complete. Sonder also today announced it is implementing cost reduction initiatives which, when complete, are expected to deliver approximately $50 million of annualized cost savings compared to the third quarter of 2024. The savings are anticipated to come from a combination of headcount reductions, software savings and other efficiencies in conjunction with the Marriott integration. Additional information regarding the completed Series A preferred stock financing and the amendments to agreements governing the Company's indebtedness can be found in a Form 8-K to be filed with the Securities and Exchange Commission (the 'SEC'). Advisors Moelis & Company LLC served as financial advisor to Sonder. About Sonder Sonder (NASDAQ: SOND) is a leading global brand of premium, design-forward apartments and intimate boutique hotels serving the modern traveler. Launched in 2014, Sonder offers inspiring, thoughtfully designed accommodations and innovative, tech-enabled service combined into one seamless experience. Sonder properties are found in prime locations in over 40 markets, spanning nine countries and three continents. The Sonder app gives guests full control over their stay. Complete with self-service features, simple check-in and 24/7 on-the-ground support, amenities and services at Sonder are just a tap away, making a world of better stays open to all. To learn more, visit or follow Sonder on Instagram, LinkedIn or X. Download the Sonder app on Apple or Google Play. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based upon current expectations or beliefs, as well as assumptions about future events. Forward-looking statements include all statements that are not historical facts and can generally be identified by terms such as 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potentially,' or 'will' or similar expressions and the negatives of those terms. These statements include, but are not limited to, statements regarding improvements in liquidity and profitability; the anticipated benefits and synergies from the strategic licensing agreement with Marriott; the integration efforts and timing under the strategic licensing agreement with Marriott; the preferred stock financing and other sources of liquidity; improving Sonder's balance sheet and long-term profitable growth; and other information concerning Sonder's financial and operating goals and estimated, possible, or assumed future financial or operating results and measures, cash flow, or liquidity. These forward-looking statements are based on management's current expectations, estimates, and beliefs, as well as a number of assumptions concerning future events and are not guarantees of future performance, conditions, or results. Actual results could differ materially from those expressed in or implied by the forward-looking statements due to a number of risks and uncertainties, including the risks and uncertainties described in the Company's reports filed with the SEC and under the heading 'Risk Factors' in its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available at These forward-looking statements are only as of the date of this press release. Except as required by law, the Company does not undertake any obligation to update or revise its forward-looking statements to reflect events or circumstances after the date of this press release. View source version on CONTACT: Media: [email protected]: [email protected] KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA INDUSTRY KEYWORD: ARCHITECTURE OTHER RETAIL VACATION APPS/APPLICATIONS TECHNOLOGY LODGING DESTINATIONS CONSTRUCTION & PROPERTY TRAVEL RETAIL REIT OTHER TECHNOLOGY SOURCE: Sonder Holdings Inc. Copyright Business Wire 2025. PUB: 04/14/2025 09:05 AM/DISC: 04/14/2025 09:04 AM
