SAN FRANCISCO, CA – January 14, 2022 – Sonder Holdings Inc. (“Sonder” or the “Company”), a leading next-generation hospitality company that is redefining the guest experience through technology and design, announced today it has added over 25 new buildings across the U.S. to its portfolio in the second half of 2021. The Company’s growth covers over a dozen cities, including top tourist destinations such as New York City, Nashville and Seattle. Sonder’s new locations include both hotel and apartment style spaces – all designed to provide flexible accommodations to serve a wide range of traveler needs.
Sonder’s East Coast expansion includes buildings in Boston, Miami, New York City, Philadelphia and Washington D.C. In Washington D.C., Sonder recently opened three new buildings in the desirable neighborhoods of Georgetown, Barracks Row and the Central Business District. Spanning approximately 300 Live Units in total, each of these properties are within easy access to some of the city’s most popular attractions. In New York City, Sonder’s recently opened Duane Street property is a charming space in the heart of Tribeca with hardwood floors, curated artwork and thoughtfully designed rooms.
“We’re thrilled to partner with Sonder, a hospitality company that prioritizes thoughtful design and a modernized, tech-forward experience, to operate our second location together at Duane Street,” shared Uzi Ben-Abraham, founding partner of Premier Equities. “As we enter a new era of travel, we believe Sonder’s flexible self-service model is the ideal way for modern travelers to experience New York City, and we look forward to continuing to work together on more opportunities in the future.”
In the Central region, Sonder added ten new buildings across Atlanta, Dallas, Nashville, New Orleans and San Antonio in the second half of 2021. Three of those buildings are centrally located in Nashville, including the historic Mastrapasqua Asset Management building. This property has been transformed into a modern hotel with 45 rooms and is surrounded by some of the world’s most iconic venues, vintage stores and culinary treasures. In Atlanta, Sonder opened a brand new building with over 115 Live Units in Midtown South, featuring art by local artists and amenities such as a gym, yoga room, outdoor patio and restaurant. Additionally, in the Western region, Sonder added buildings in Los Angeles, Palm Springs, San Francisco and Seattle.
“The U.S. continues to be a high-growth market for us with a strong and varied supply of real estate, and we plan to continue expanding aggressively,” said Martin Picard, Co-Founder and Global Head of Real Estate at Sonder. “Our future-forward model and well-capitalized business continue to attract prominent real estate partners, while our innovative approach to hospitality brings travelers from across the globe to our spaces. Our properties across the United States provide a wide variety of unique urban stays and we look forward to continuing to grow and evolve our portfolio with our current and future real estate partners.”
In addition to newly opened buildings, Sonder has also contracted a number of hotel and apartment style spaces across the country, including partnering with Property Markets Group for a second time in Florida to operate a 130+ unit building in downtown Miami.
“Working with Sonder at Society Las Olas in Fort Lauderdale was a phenomenal experience, and we look forward to collaborating again at Society Biscayne in the heart of downtown Miami,” said Ryan Shear, Managing Partner at Property Markets Group. “Sonder’s unique approach to hospitality – combining tasteful design with advanced technology and smooth operations at each property – is a major benefit to our residents and communities, and we’re pleased to expand this partnership.”
Headquartered in San Francisco, Sonder operates in 35+ cities across ten countries, and has over 16,000 Live and Contracted Units worldwide as of September 30, 2021. The Company partners with real estate owners and landlords to manage and operate hotels and apartment-style buildings. Sonder distinguishes itself in the hospitality industry through applying forward thinking design and infusing technology into its properties and 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.
Business Combination with Gores Metropoulos II
Sonder recently announced that the Registration Statement on Form S-4 filed with the U.S. Securities and Exchange Commission (the “SEC”) on July 7, 2021, as amended by Amendment No. 7 filed on December 20, 2021, was declared effective on December 22, 2021. The Registration Statement was filed in connection with the proposed business combination of Sonder and Gores Metropoulos II, Inc. (Nasdaq: GMII, GMIIW, and GMIIU). A special meeting of Gores Metropoulos II stockholders to approve the business combination will be held on January 14, 2022, at 9:00 a.m. Eastern Time.
Sonder’s common stock and public warrants are expected to be listed on Nasdaq under the ticker symbols “SOND” and “SONDW,” respectively, following the closing of the business combination. Upon completion of the business combination, subject to any redemptions by the public stockholders of Gores Metropoulos II and the payment of transaction expenses at the closing, Sonder expects to have approximately $310 million in PIPE proceeds, up to $450 million in cash in Gores Metropoulos II’s trust account and $165 million of Delayed Draw Notes to fund operations and support new and existing growth initiatives.
