Real Estate
Sonder Reaches Marriott License Deal, Secures Additional Liquidity
- Properties will be available as ‘Sonder by Marriott Bonvoy’
- Company has commitments for $43 million in preferred equity
Sonder shares soared as much as 137% Monday after the deal was announced.
Source: Sonder Holdings Inc.
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Sonder Holdings Inc. shares more than doubled after the alternative-lodging company reached a series of deals to raise capital and integrate its brand into Marriott International Inc.’s system.
The company, which operates more than 9,000 boutique hotel rooms and apartment-style short-term rentals, said in a statement Monday that it has commitments for $43 million in preferred equity and has secured $83 million of additional liquidity from existing lenders.