BETHESDA, Maryland., 19 August 2024 /PRNewswire/ — Marriott International, Inc. (NASDAQ: MAR) today announced a long-term licensing agreement with Sonder Holdings Inc. (NASDAQ: SOND, “Sonder”) that is expected to add more than 9,000 rooms to Marriott’s portfolio and approximately 1,500 rooms to its pipeline by year-end. Under the agreement, Sonder’s open and pipeline portfolio, consisting primarily of apartment-style accommodations in urban markets, will be added to the Marriott system under a new collection called “Sonder by Marriott Bonvoy.”

Marriott expects to add over 9,000 new rooms later this year and now expects net room growth of 6 to 6.5 percent for full-year 2024. The Sonder pipeline rooms are expected to be added to the Marriott system over the next few years. Under the agreement, Marriott will receive a royalty based on a percentage of Sonder’s gross room revenue.

“We are pleased to add the special portfolio to our system, which will expand our portfolio of extended stay accommodations in key markets around the world,” said Tim GrisiusGlobal Officer, M&A, Business Development and Real Estate, Marriott International. “Marriott has long believed in offering the right product at the right price for every travel purpose and generation of traveler. With the planned addition of Sonder by Marriott Bonvoy, we can offer guests looking for urban, apartment-style accommodations even more options in the Marriott Bonvoy portfolio.”

Founded in 2014, Sonder currently operates apartment accommodations and small boutique hotels in urban markets in North America, Europe and the Middle EastThese offerings appeal to key demographics, including younger travelers, use a digital operating model and are geared toward longer stays.

Starting later this year, Marriott Bonvoy members are expected to be able to earn and redeem points when staying at approximately 200 Sonder by Marriott Bonvoy hotels. Full integration of Sonder hotels into Marriott’s digital channels, including Marriott.com and the Marriott Bonvoy app, is planned for 2025.

Note on forward-looking statements

This press release contains “forward-looking statements” within the meaning of United States federal securities laws, including statements regarding anticipated agreements between Marriott International, Inc. and Sonder Holding Inc.; the expected addition of hotels and rooms to Marriott’s system; Marriott’s expectations for net room growth for the full year of 2024; the expected timing of the availability of Marriott Bonvoy credits and redemptions at Sonder by Marriott Bonvoy hotels; the expected timing of the full integration of Sonder by Marriott Bonvoy hotels into Marriott’s platforms; the expected attractiveness of Sonder by Marriott Bonvoy to customers; and similar statements regarding anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or estimate, including the risk factors we identify in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q. Any of these factors could cause actual results to differ materially from the expectations we express or implied in this press release. We make these forward-looking statements as of the date of this press release and undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Marriott International, Inc.

Marriott International, Inc. (Nasdaq: MAR) is headquartered in Bethesda, MarylandUSA, and includes a portfolio of approximately 9,000 hotels from more than 30 leading brands in 141 countries and territories. Marriott operates and franchises hotels and licenses vacation resorts around the world. The company offers Marriott Bonvoy®, its award-winning travel program. For more information, visit our website at www.marriott.com and for the latest company news, visit www.marriottnewscenter.com. You can also reach us on Facebook and @MarriottIntl ​​on X and Instagram.

IRPR No. 1

SOURCE: Marriott International, Inc.