SAN FRANCISCO – Apartment-style accommodation company Sonder Holdings Inc. has
entered into a long-term strategic licensing agreement with Marriott
International with more than 9,000 live units joining the Marriott portfolio by
the end of 2024 under the Sonder by Marriott Bonvoy brand. Another 1,500 Sonder
units are anticipated to join at later dates.
With the deal, Marriott now expects full year 2024 net rooms
growth of 6% to 6.5%. Under the agreement, Marriott will receive a royalty fee
based on a percentage of Sonder gross room revenues.
At the same time, NASDAQ-listed Sonder announced that it has enhanced its
liquidity profile by approximately $146 million to support its long-term
profitable growth and the integration efforts under the strategic agreement
with Marriott. Sonder is…