Marriott Companions Sonder to Add Over 9,000 Rooms to Portfolio

Darkish/Gentle Mode
(20/08/24)
 Marriott has signed a long-term licensing settlement with Sonder
Holdings in a deal which is predicted so as to add over 9,000
rooms to Marriott’s portfolio by year-end, and roughly 1,500
rooms to its pipeline.

Sonder’s open and
pipeline portfolio, which primarily consists of apartment-style
lodging in city markets, is predicted to be added to the
Marriott system below a brand new assortment known as “Sonder by Marriott
Bonvoy”.

With greater than 9,000 rooms anticipated to be added to its
portfolio later this 12 months, Marriott now expects full 12 months 2024 internet
rooms progress of 6 to six.5 %.

The Sonder pipeline rooms are anticipated to be
added to Marriott’s system over the following few years and Marriott will obtain a royalty price
based mostly on a share of Sonder gross room revenues.

“We
are excited about the addition of Sonder’s portfolio to our
system, which will expand our portfolio of longer-stay
accommodations in key markets around the world,” mentioned Tim Grisius,
World Officer, M&A, Enterprise Improvement and Actual Property,
Marriott Worldwide. “Marriott has long believed in providing
the right product at the right price point for all trip purposes
and generations of travelers. With the planned addition of Sonder
by Marriott Bonvoy, we will be able to provide guests seeking
apartment-style urban accommodations with even more options in the
Marriott Bonvoy portfolio.”

Based in 2014, Sonder presently operates
apartment-style lodging and small boutique motels in city
markets throughout North America, Europe and the Center East.

Starting later this 12 months,
Marriott Bonvoy members are anticipated to have the ability to earn and redeem
factors on stays at roughly 200 Sonder by Marriott Bonvoy
properties.

Full integration of Sonder properties with Marriott’s
digital channels, together with Marriott.com and the Marriott Bonvoy
app, is predicted in 2025.

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