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The Wall Street Publication > Blog > World > Marriott Companions Sonder to Add Over 9,000 Rooms to Portfolio
World

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

Last updated: October 2, 2024 8:02 pm
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Marriott Companions Sonder to Add Over 9,000 Rooms to Portfolio
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Darkish/Mild Mode(20/08/24) Marriott has signed a long-term licensing settlement with SonderHoldings in a deal which is predicted so as to add over 9,000rooms to Marriott’s portfolio by year-end, and roughly 1,500rooms to its pipeline.

Sonder’s open andpipeline portfolio, which primarily consists of apartment-styleaccommodation in city markets, is predicted to be added to theMarriott system beneath a brand new assortment known as “Sonder by MarriottBonvoy”.

With greater than 9,000 rooms anticipated to be added to itsportfolio later this yr, Marriott now expects full yr 2024 netrooms development of 6 to six.5 p.c.

Room with a view at Sonder Atala in Paris, France

The Sonder pipeline rooms are anticipated to beadded to Marriott’s system over the subsequent few years and Marriott will obtain a royalty feebased on a proportion of Sonder gross room revenues.

“Weare excited about the addition of Sonder’s portfolio to oursystem, which will expand our portfolio of longer-stayaccommodations in key markets around the world,” stated Tim Grisius,World Officer, M&A, Enterprise Improvement and Actual Property,Marriott Worldwide. “Marriott has long believed in providingthe right product at the right price point for all trip purposesand generations of travelers. With the planned addition of Sonderby Marriott Bonvoy, we will be able to provide guests seekingapartment-style urban accommodations with even more options in theMarriott Bonvoy portfolio.”

Based in 2014, Sonder at present operatesapartment-style lodging and small boutique lodges in urbanmarkets throughout North America, Europe and the Center East.

Starting later this yr,Marriott Bonvoy members are anticipated to have the ability to earn and redeempoints on stays at roughly 200 Sonder by Marriott Bonvoyproperties.

Full integration of Sonder properties with Marriott’sdigital channels, together with Marriott.com and the Marriott Bonvoyapp, is predicted in 2025.

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