Sonder announced Monday it is immediately winding down operations and plans to file for bankruptcy , just one day after Marriott International terminated its licensing agreement with the hospitality company.

The short-term rental operator, which offers apartment-style accommodations and boutique hotel stays, said it intends to file for Chapter 7 bankruptcy protection amid "severe financial constraints" linked to challenges integrating its systems with Marriott International .

"Unfortunately, our integration with Marriott International was substantially delayed due to unexpected challenges in aligning our technology frameworks , resulting in significant, unanticipated integration costs, as well as a sharp decline in revenue arising from Sonder’s participation in Marriott’s Bonvoy re

See Full Page