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Sonder Holdings Inc. Expands Spanish Footprint Adding Two New Properties in Barcelona and Madrid
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Sonder Holdings Inc. (Nasdaq: SOND) is expanding its presence in Spain, more than doubling its total live and contracted units. The company plans to open a 65-unit hotel in Barcelona by late 2022, alongside a 118-unit hotel in Madrid expected to launch in late 2024. These prime locations aim to enhance Sonder’s portfolio, which already includes properties in both cities. The expansion reinforces the company's growth strategy and commitment to redefining the hospitality experience through technology and design.
Positive
Sonder is expanding in Spain, more than doubling total live and contracted units.
New prime properties secured in Barcelona and Madrid, enhancing market presence.
The Barcelona hotel will feature 65 units, and the Madrid hotel will feature 118 units, targeting leisure and corporate guests.
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Tech-enabled hospitality provider more than doubles live and contracted units in Spain
BARCELONA, Spain & MADRID--(BUSINESS WIRE)--
Sonder Holdings Inc. (“Sonder”, Nasdaq: SOND), a leading next-generation hospitality company that is redefining the guest experience through technology and design, is more than doubling its total live and contracted units in Spain by securing two additional prime properties in Barcelona and Madrid.
In Barcelona, Sonder will open a 65-unit hotel on Paseo de Gracia, in one of the city’s most important shopping and business areas, containing several of Barcelona’s most celebrated pieces of architecture. Set to open in the second half of 2022, Sonder’s Paseo de Gracia location will feature a rooftop terrace and courtyard garden. It will join Sonder’s existing portfolio of five hotels in Barcelona, including the five star grand luxe Do Plaça Real, and Casa Luz, which features a buzzing rooftop restaurant, both of which opened in summer 2021.
Alting Grupo Inmobiliario, a real estate group with a business model focused on investment and management of prime real estate assets, is the landlord of Sonder Paseo de Gracia. Alting Grupo Inmobiliario chose Sonder as the operator of this five star hotel once renovation is complete. JLL Hotels & Hospitality Group advised on the deal.
“We’re pleased to partner with Sonder, a high-growth global hospitality company with an excellent track record of providing elevated guest experiences and modern service. Their proven hospitality model and reimagining of accommodations aligns with our focus on high quality properties. Travelers will benefit from a stay in a stunning, centrally-located property, steeped in Barcelona history but modernized by future-forward service and design,” said Carolina Marcos, Deputy Director General at Alting Grupo Inmobiliario.
“The fact that this deal was successfully completed in a period with considerable uncertainty underpins the resilience of the Barcelona hotel market, which continues to capture high interest levels from global hospitality players like Sonder which has rapidly expanded in the city over the last year,” said Sandra Rubio, Head of Advisory & Valuations at JLL Hotels & Hospitality Group.
In Madrid, Sonder will open a 118-unit hotel on Gran Via, a few steps away from Plaza de España. The property will feature a rooftop with views of the city, and is expected to open in late 2024. Azotea Grupo, a leading gastronomic hospitality group, will manage the food & beverage offering on site. The hotel will join Sonder’s existing serviced apartment property in Madrid, the 22-unit Sonder Malasaña, which opened in January 2021.
“We’re thrilled to announce further expansion in Barcelona and Madrid, enriching our offering in these key markets for leisure and corporate guests, both domestic and international. Our new properties occupy prime locations in both cities, and will help us get closer to realizing our ambitious plans for Spain since launching the market in 2020. Sonder’s technology and design focused hospitality meets the evolving needs of modern travelers, while our real estate partners benefit from flexible agreements, and not having to worry about daily operational responsibilities. We leverage technology to streamline operations and improve the guest experience,” said Leda Zanlungo, General Manager, Iberia at Sonder.
Headquartered in San Francisco, Sonder operates in 35+ cities across ten countries – seven of which are in EMEA – and has approximately 18,100 live and contracted units worldwide. The company partners with real estate owners and landlords to manage and operate hotel and multi-unit buildings. Sonder distinguishes itself in the hospitality industry through modern design and by infusing technology into its guest experience. This tech-enabled experience puts guests in full control of their stay. They can access everything they need – from booking, to interacting with guest services, to check-out – via their own mobile device from anywhere and at any time, using the Sonder app.
Sonder previously announced EMEA expansion in the UK & Ireland and France, and recently reported company record annual revenue of $233 million in 2021. Sonder also provides corporate travel offerings, including in Spain, and is live with all major Global Distribution System (GDS) networks. Sonder works in partnership with leading travel management companies such as Egenica for business traveler-specific bookings. Sonder also recently committed to eliminating single-use plastic amenities in all of its guest-facing units no later than Dec. 31, 2022, as part of the company’s wider sustainability commitments under its People, Place & Planet framework.
To explore Sonder real estate partnership opportunities, please contact partners@sonder.com
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 35 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.
