Sonder Holdings announces licensing agreement with Marriott

Sonder Holdings (SOND) announced that it has entered into a long-term strategic licensing agreement with Marriott International (MAR). Through this strategic agreement, over 9,000 live Sonder units are expected to join the Marriott portfolio by the end of 2024, with approximately 1,500 additional contracted units anticipated to join the Marriott system at later dates. Sonder’s properties, which consist of apartment-style accommodations and intimate boutique hotels, are expected to be fully integrated with Marriott’s extensive distribution channels, and be available for booking on Marriott.com and the Marriott Bonvoy mobile app as a new collection called Sonder by Marriott Bonvoy. Sonder’s properties are also expected to participate in the highly regarded Marriott Bonvoy travel program with over 210 million members, and gain access to Marriott’s global sales organization. Sonder anticipates that full integration with Marriott’s digital channels and platform will occur in 2025; however, Sonder expects that Marriott.com will include link-offs to Sonder’s digital platforms to support shop, book, earn and redeem by Marriott Bonvoy members and customers before the end of 2024. Sonder expects the strategic agreement to deliver significant revenue opportunities and operating efficiencies for Sonder.