Marriott makes license deal with apartment-style accommodation company, Sonder

Apartment-style accommodation company Sonder Holdings Inc. has entered into a long-term strategic licensing agreement with Marriott International with more than 9,000 live units joining the Marriott portfolio by the end of 2024 under the Sonder by Marriott Bonvoy brand. Another 1,500 Sonder units are anticipated to join at later dates. With the deal, Marriott now expects full year 2024 net rooms growth of 6% to 6.5%. Under the agreement, Marriott will receive a royalty fee based on a percentage of Sonder gross room revenues.

Marriott (Nasdaq: MAR)
Karen Finberg | Chief Franchise Officer
Sonder (Nasdaq: SOND)
Martin Picard | Co-Founder/Global Head of Real Estate
Marriott (Nasdaq: MAR)
Noah Silverman | Chief Development Officer

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