Marriott International has entered a long-term licensing agreement with Sonder Holdings, expecting to expand its portfolio.
This partnership is set to introduce a further more than 9,000 rooms to Marriott’s portfolio by the end of the year and an additional 1,500 rooms to its pipeline.
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The newly added properties will operate under the “Sonder by Marriott Bonvoy” collection.
In 2024, the net room growth for Marriott International is projected at 6%-6.5%.
The Sonder pipeline rooms are expected to join Marriott’s system in the coming years.
This agreement stipulates that Marriott will get a royalty fee depending on a percentage of Sonder’s gross room revenues.
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By GlobalDataEstablished in 2014, Sonder operates apartment-style accommodations and boutique hotels, situated in urban markets across North America, Europe, and the Middle East.
The company’s properties, which are designed to appeal to younger demographics, incorporate a digital-first operating model.
Marriott International M&A, business development and real estate global officer Tim Grisius said: “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.
“Marriott has long believed in providing the right product at the right price point for all trip purposes and generations of travellers. 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.”
The latest move will allow Marriott Bonvoy members to earn and redeem points at nearly 200 Sonder by Marriott Bonvoy properties, starting later this year.
The full integration of Sonder properties into Marriott’s digital platforms, including Marriott.com and the Marriott Bonvoy app, is anticipated next year.
This announcement comes close on the heels of Marriott International’s celebration of its 9,000th property opening, the St Regis Longboat Key Resort in Florida.
