Frontier Airlines unveiled 11 new routes across 15 airports that are scheduled to launch in October and November.
Marriott Signs Loyalty Tie-Up With Sonder
19.08.2024 - 13:20 / skift.com / Sean Oneill / Francis Davidson
Marriott International and Sonder Holdings said Monday they had signed a 20-year strategic licensing deal. The deal will expand the portfolio of places where members of the Marriott Bonvoy loyalty program can earn and redeem points.
Sonder offers about 9,000 units with hotel-style professional stays, although roughly half of the properties it manages are apartment buildings.
“We will be able to provide guests seeking apartment-style urban accommodations with even more options in the Marriott Bonvoy portfolio,” said Tim Grisius, Global Officer of M&A, Business Development and Real Estate at Marriott International.
Sonder separately said on Monday it had secured about $146 million in additional liquidity to strengthen its balance sheet and support long-term growth.
Sonder went public through a special purpose acquisitions company, or SPAC, merger in January 2022. It hasn’t been profitable, has had some accounting difficulties and for over a year has been trimming its portfolio.
Marriott’s heft serves as an endorsement in Sonder, enabling it to receive funding from unnamed investors. The fresh financing includes:
“Benefitting from the extensive distribution, loyalty program and sales capabilities of a global hospitality leader will help us to prioritize our core value drivers, including our unique guest experience, while unlocking significant opportunities for increased revenue and cost efficiency,” said Francis Davidson, co-founder and CEO of Sonder.
What am I looking at? The performance of hotels and short-term rental sector stocks within the ST200. The index includes companies publicly traded across global markets, including international and regional hotel brands, hotel REITs, hotel management companies, alternative accommodations, and timeshares.
The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more hotels and short-term rental financial sector performance.
Read the full methodology behind the Skift Travel 200.
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