Marriott's $15M Deal with Sonder Ends in Disaster

Marriott International invested $15 million in Sonder, a short-term rental company, to add 9,000 rooms to its portfolio. However, the deal proved disastrous for Marriott, as Sonder's unique model of providing hotel amenities at apartment-like units failed to gain traction. Marriott lost millions of dollars and was forced to write down the value of its investment, leading to a significant loss.