Marriott: licensing agreement with Sonder

(CercleFinance.com) - Marriott International announces a long-term licensing agreement with Sonder Holdings, which is expected to add more than 9,000 rooms to Marriott's portfolio by the end of this year, and to bring it around 1,500 rooms, currently in the pipeline, in subsequent years.


Under the agreement, Sonder's open and pipeline portfolio, which consists mainly of apartments in urban markets, is expected to be added to the Marriott system as part of a new collection called 'Sonder by Marriott Bonvoy'.

The upscale hotel chain now expects net room growth of 6%-6.5% for FY 2024, and will receive a royalty based on a percentage of gross revenues from Sonder rooms.

The Sonder assets, located in North America, Europe and the Middle East, are based on a digital-first model. Full integration with Marriott's digital channels, including the Marriott Bonvoy app, is planned for 2025.


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