Sonder, which decks out apartments and hotel rooms as short-term rentals, is looking to merge with the SPAC in a deal that will value them at more than $2.5 billion.
The price tag is the highest paid for a Manhattan hotel since the pandemic upended travel.
Driftwood Capital's Carlos Rodriguez explains why investors should strike now if they want to enjoy the full upside of the post-pandemic recovery for hospitality properties.
Three more shareholders are saying they plan to vote against the deal because they feel the purchase price undervalues the company.
Family office Tarsadia Capital LLC said in a letter to shareholders it believes both the pricing and the timing of the deal is off.
The U.S. hotel sector won’t fully recover from the pandemic until about 2025. But some segments are coming back much faster than others.
Provided guest are not in need of medical attention, resort operators are offering the opportunity to self-isolate on their dime.
Apollo Global Management and Vici Properties are buying the Venetian Las Vegas for $6.25 billion.
The stock deal will have an equity value of about $1.4 billion.