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Sonder Holdings Inc. Expands Business Travel Segment with Group Bookings
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Sonder Holdings Inc. (NASDAQ: SOND) has expanded its business travel segment to focus on group bookings through a partnership with HelmsBriscoe, a leader in meetings procurement. This move comes as corporate travel is rebounding to pre-pandemic levels. In 2022, Sonder saw approximately $70 million in booked corporate sales, a fivefold increase from 2021. The company is targeting groups in verticals like sports and entertainment, and now offers accommodations in over 40 markets worldwide, featuring amenities suited for group stays. This initiative aims to capture a growing market of blended business and leisure travel.
Positive
Expanded business travel focus on group bookings through HelmsBriscoe partnership.
Achieved approximately $70 million in booked corporate sales in 2022, marking 5x growth from 2021.
Increasing share in group bookings for sports and entertainment verticals.
Offers accommodations with on-site amenities suited for group stays in over 40 markets worldwide.
Negative
None.
Tech-enabled, global hospitality company joins with multiple partners including HelmsBriscoe, increasing focus on group bookings
SAN FRANCISCO--(BUSINESS WIRE)--
Sonder Holdings Inc. (NASDAQ: SOND; “Sonder”), a leading next-generation hospitality company that is redefining the guest experience through technology and design, has expanded its business travel segment to include group bookings. Sonder also announced a new partnership with HelmsBriscoe, the global leader in meetings procurement and site selection.
Having formally launched its business travel segment in 2021, Sonder continued to expand this area in 2022, including strengthening its position on GDS platforms, and adding a significant number of corporate travel accounts. This translated into approximately $70 million in booked corporate sales in 2022, roughly 5x growth compared to 2021. The company continues to grow both corporate travel and corporate housing accounts, and is now increasing its share of group bookings within popular verticals such as sports and entertainment, hosting elite athletes and sports teams, as well as film and television production crews. Sonder offers both hotel and apartment accommodations in over 40 markets worldwide, including entertainment hubs and cities that host international sporting events.
“Partnering with an industry leader like HelmsBriscoe unlocks growth in group travel, at a time when corporate travel is still recovering to pre-pandemic levels, and the landscape is evolving with trends such as the blending of business and leisure travel. Sonder accommodations offer short-stay and long-stay groups an elevated experience at a great value. We see exciting opportunities to scale within our existing verticals, including sports and entertainment, and to add others,” said Kristen Richter, Vice President of Global Sales at Sonder.
Sonder’s portfolio now includes properties with on-site amenities and high key counts suited to groups, such as Battery Park in NYC, Business Bay in Dubai, Cielo in Mexico City, Maisonneuve in Montreal, and The Witherspoon in Philadelphia. Sonder spaces provide fast wi-fi, and many offer a comfortable place to spread out and work remotely, with fully-equipped kitchens, living rooms, multiple bedrooms and en-suite laundry.
Forward-Looking Statements
This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements about Sonder’s expansion and growth in corporate travel and corporate housing accounts and anticipated group travel growth. These forward-looking statements are based on Sonder’s management’s current expectations, estimates, projections and beliefs, as well as a number of assumptions concerning future events. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, Sonder does not undertake any obligation to update or revise its forward-looking statements to reflect events or circumstances after the date of this press release. Additional risks and uncertainties are identified and discussed in Sonder’s reports filed and to be filed with the SEC and available on the SEC’s website at www.sec.gov.
About Sonder
Sonder (NASDAQ: SOND) is revolutionizing hospitality through innovative, tech-enabled service and inspiring, thoughtfully designed accommodations combined into one seamless experience. Launched in 2014 and headquartered in San Francisco, Sonder provides a variety of accommodation options — from spacious rooms to fully-equipped suites and apartments — found in over 40 markets spanning ten countries and three continents. The Sonder app gives guests full control over their stay. Complete with self-service features, simple check-in and 24/7 on-the-ground support, amenities and services at Sonder are just a tap away, making a world of better stays open to all.
