Sunstone hotel and vacation rentals have been popular for the past few years.
But, the company has struggled to keep up with the rise in popularity and prices of the technology.
And as of last year, the total number of hotel and holiday rentals has dipped below 1,000, according to research firm Euromonitor.
Sunstone’s chief executive, Michael DeGroote, said that the company was aiming to return to profitability by 2018.
Sunstone has a long history of providing high-quality rentals, he said.
DeGroose said that while he expects to return revenues in 2018, he does not expect the company to go into another round of debt as a result of the decline in hotel rentals.
Sunstones main business, Sunstone International, is based in India.
Its net revenue in the fourth quarter was $7.3 billion.
Sun Stone also has a deal with a private equity firm to purchase Sunstone’s Indian unit for $5 billion.
Sunstones Indian unit is being developed into an office and hotel complex in the city of Jaipur, which is one of India’s largest cities.
SunStone’s chief financial officer, Rajesh Chaturvedi, said Sunstone had been investing in India for decades.
He said Sun Stone would look to grow its Indian business by focusing on technology, infrastructure and retail, which are all areas that are growing in popularity.