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Sonder Holdings Inc. announced the addition of over 25 new buildings to its portfolio across the U.S. in the latter half of 2021, including locations in major cities like New York, Nashville, and Seattle. This expansion reflects Sonder's commitment to flexible accommodations catering to diverse traveler needs. The company also revealed plans for a business combination with Gores Metropoulos II, which will transition its stock listings to Nasdaq as 'SOND' and 'SONDW'. Upon completion, Sonder is expected to access approximately $310 million in PIPE proceeds and up to $450 million in cash.
Sonder Holdings Inc. has successfully added over 100 new corporate travel accounts in the past year, driven by strong demand for its tech-enabled accommodations among business clients across various sectors. Major destinations include New York City, London, and Dublin. Following its business travel launch, Sonder partnered with ABC Global Services to enhance its offerings. The upcoming business combination with Gores Metropoulos II is targeted for January 14, 2022, with expected PIPE proceeds of approximately $310 million. Post-combination, Sonder plans to list its shares on Nasdaq under the ticker symbols SOND and SONDW.
Sonder Holdings Inc. reported strong revenue growth over New Year’s Eve, with Revenue Per Available Room increasing more than 10% compared to 2019 and nearly doubling year-over-year. Occupancy rates exceeded 75%, indicating robust traveler demand, particularly in popular destinations. The company is set to complete its business combination with Gores Metropoulos II on January 14, 2022, aiming to enhance operational funding with approximately $310 million in PIPE proceeds, up to $450 million in cash, and $165 million of Delayed Draw Notes.
Sonder, a tech-enabled hospitality provider, has expanded its footprint in Canada, now managing almost 1,000 live and contracted units across cities like Montreal and Toronto. Key property openings include the Sonder Saint Paul and Sonder Maisonneuve in Montreal. The company is also set for a business combination with Gores Metropoulos II, Inc. (NASDAQ: GMII), with a stockholder approval meeting scheduled for January 14, 2022. Upon closure, Sonder expects to secure around $310 million in PIPE proceeds to support growth initiatives.
Gores Metropoulos II and Sonder Holdings announced their proposed business combination, encouraging stockholders to vote "FOR" on
Sonder Holdings announced record Q3 2021 revenue of $67.5 million, a 155% increase year-over-year, driven by a surge in leisure travel. The company raised its FY 2021 total revenue outlook to between $200 million and $205 million, up from a previous range of $180 million to $190 million. Key metrics included an average daily rate of $184 and revenue per available room of $126. The merger with Gores Metropoulos II is progressing and expected to close by early 2022. The company continues to expand its portfolio globally, with significant increases in live units and bookable nights.
Sonder Holdings and Gores Metropoulos II announced amendments to their merger agreement, reflecting a strategic commitment to long-term growth. Sonder's Q2 revenue reached a company record, supported by approximately
Sonder Holdings Inc. has officially entered the French market by acquiring the management and operations of Sonder Atala, a 48-unit property located near the Champs-Elysées in Paris. This marks Sonder's expansion into its tenth country. Jean-Charles Denis has been appointed General Manager for France, bringing extensive hospitality experience. The new property showcases contemporary artwork and offers various amenities for guests, aligning with Sonder's tech-enabled hospitality model, which allows guests to manage their stays via an app.
Sonder Holdings Inc. has appointed Gilda Perez-Alvarado to its Board of Directors. Perez-Alvarado is the Global CEO of the Hotels & Hospitality Group at JLL, bringing extensive experience in real estate and investment management. This appointment aligns with Sonder's strategy to enhance its leadership team as it prepares for a public listing through a merger with Gores Metropoulos II, Inc. (Nasdaq: GMIIU, GMII, GMIIW). The company recently raised its revenue outlook for 2021 due to strong performance in the first half and rapid growth in its portfolio.
Sonder is expanding its portfolio in
Sonder operates in 35+ cities and aims to redefine hospitality through technology and design.
