The short-term rental manager says the changes will let it turn cash flow positive next year, but it may face a cash squeeze before it gets there. Watch out for the very similar Vacasa, too.
The hospitality brand has had to take action to reassure investors it's not over-stretching itself, because they'll now be expecting much higher revenues as travel roars back.
Sonder's Shruti Challa spoke with Skift’s Seth Borko at the Skift Future of Lodging Forum in New York City in May 2022. Listen to the full conversation in our latest Skift Podcast episode.
Despite the worst of the pandemic being behind the hospitality industry, executives largely don't see a full recovery this year. It's hard for them to do so when the industry hasn't still solved its labor shortage problem.
In Skift's top stories this week, luxury hospitality fails to live up to its longtime grandeur, corporate travel thrives in the first quarter, and Expedia Group appoints a Google executive to plot its advertising strategy.
Outsiders figure out what's wrong with an industry and rightfully disrupt it. Then they learn that the disrupted industry does things a certain way for a reason. It doesn't mean Sonder's overall strategy is wrong, but that's a lesson it is learning.