Core Insights - Sonder Holdings Inc. reported its financial results for Q2 2025, highlighting a strategic partnership with Marriott International and a focus on premium accommodations for modern travelers [1][4]. Financial Highlights for Q2 2025 - Revenue was $147.1 million, an 11% decrease year-over-year [7]. - Net loss was $44.5 million, a 236% decrease year-over-year [7]. - RevPAR (Revenue Per Available Room) was $184, a 13% increase year-over-year [7]. - Occupancy rate was 86%, a six percentage point increase year-over-year [7]. - Bookable nights were 798,000, a 21% decrease year-over-year due to the Portfolio Optimization Program [7]. Year-to-Date Financial Highlights - Revenue for the six months ended June 30, 2025, was $265.9 million, an 11% decrease year-over-year [7]. - Net loss for the same period was $101.0 million, a 469% decrease year-over-year [7]. - Adjusted EBITDA was $(59.3) million, a 20.3% increase year-over-year [7]. - Total cash, cash equivalents, and restricted cash amounted to $71.0 million as of June 30, 2025 [7]. Strategic Developments - Sonder completed the full integration with Marriott in Q2 2025, allowing all Sonder properties to be booked through Marriott's platforms [4]. - The partnership enhances Sonder's visibility and access to a broader customer base through Marriott's digital channels [4]. Operational Metrics - Live units were approximately 8,300 as of June 30, 2025, while the total portfolio was approximately 8,990 [7]. - Cash used in operating activities was $19.6 million, a 40% improvement year-over-year [7]. - Adjusted Free Cash Flow was $(17.5) million, a 29% decrease year-over-year [7].

Core Viewpoint - Sonder Holdings Inc. announced the resignation of Chief Financial Officer Michael Hughes, effective August 15, 2025, while the search for a new CEO is ongoing, with expectations to appoint a permanent successor by the end of 2025 [1][2]. Company Overview - Sonder is a leading global brand offering premium, design-forward apartments and boutique hotels, catering to modern travelers since its launch in 2014 [2]. - The company operates in over 40 markets across nine countries and three continents, providing tech-enabled services and self-service features through the Sonder app [2]. Leadership Transition - The interim CEO, Janice Sears, expressed gratitude for Michael Hughes' contributions and emphasized the importance of identifying world-class executives to maximize Sonder's growth potential [2]. - The new CEO will be actively involved in the search for a new CFO as part of the long-term leadership succession plan [1][2].