by Lacey Pfalz
Last updated: 8:50 AM ET, Mon August 19, 2024
Sonder The Abbey Miami (Photo Credit: Sonder The Abbey Miami)
Marriott International, Inc. announced a new long-term licensing agreement with Sonder Holdings Inc., which will add over 9,000 rooms to Marriott’s portfolio under the new collection, “Sonder by Marriott Bonvoy.”
Additionally, Sonder’s pipeline portfolio, which will add 1,500 more rooms, are hotels offering apartment-style accommodations in cities. Marriott has recorded a record-breaking development the past two years, and expects its pipeline to boost profits this year.
Over 9,000 rooms are expected to be added to Marriott’s portfolio later this year. Its full-year 2024 net room growth is now expected to reach 6 to 6.5 percent, and this after the company celebrated the opening of its 9,000th hotel. The agreement states that Marriott will receive a royalty fee based on a percentage of the hotels’ gross room revenues.
Sonder was founded in 2014 and offers apartment-style accommodations and small boutique hotels throughout big cities in North America, Europe and the Middle East. Marriott Bonvoy members will be able to enjoy earning and redeeming points on Sonder’s 200-some properties later this year.
“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,” said Tim Grisius, Global Officer, M&A, Business Development and Real Estate, Marriott International.
“Marriott has long believed in providing the right product at the right price point for all trip purposes and generations of travelers,” continued Grisius. “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.”
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