(Reuters) -Hotel operator Marriott International on Sunday said its licensing agreement with lodging rentals company Sonder has been terminated due to a default from Sonder.

Sonder, which provides apartment-style accommodations, signed an agreement with Marriott in 2024 that sent its shares skyrocketing.

Under the deal, Sonder enhanced its liquidity profile by about $146 million, with over 9,000 units expected to join the Marriott system by the end of 2024.

As a result of the termination, Marriott said Sonder is no longer affiliated with Marriott Bonvoy, adding that Sonder properties are not available for new bookings on Marriott’s channels.

Marriott, in a separate statement, said that it now expects its full-year net rooms growth to be 4.5%, because of the termination, a dip from last

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