Apartment-style accommodations provider Sonder Holdings has named as its new CFO Michael Hughes, a longtime hospitality industry executive who most recently served as EVP and CFO of real estate investment trust Spirit Realty Capital. The move is effective Jan. 22.
Other positions on Hughes’ resume include more than a decade at REIT FelCor Lodging Trust as EVP and CFP and a stint at Wyndham Hotel Group as VP of corporate finance.
Hughes joins Sonder as the company works to avoid a Nasdaq delisting due to delinquent filing of earnings reports, which the company has said was due to delays caused by “accounting errors related to the valuation and impairment of operating lease right of use assets and related items.”
Sonder co-founder and CEO Francis Davidson in a statement noted Hughes’ “significant experience implementing business transformations and driving operational discipline from his leadership roles at companies in our sector.”
Davidson cited Sonder’s recent agreement to list its portfolio among Marriott International’s holdings, noting, “Our integration efforts with Marriott International are progressing very well and with the recent actions we have taken to significantly strengthen our balance sheet, Michael’s proven expertise will be immediately additive to the work we are doing to unlock opportunities to advance our core value drivers and generate increased revenue and cost efficiency.”
Hughes will replace former Sonder CFO Dominique Bourgault, who stepped down from the role Dec. 2.
Sonder CFO to Depart as Earnings Filings Updated, Investment Secured
