Sonder reaches Marriott licence deal, secures additional liquidity

Sonder said it has commitments for US$43mil in preferred equity and has secured US$83mil of additional liquidity from existing lenders.— Bloomberg

NEW YORK: Sonder Holdings Inc has reached a series of deals to raise capital and integrate its brand into Marriott International Inc’s system, as the alternative-lodging company seeks to strengthen its financial health.

Sonder, which operates more than 9,000 boutique hotel rooms and apartment-style short-term rentals, said in a statement on Monday that it has commitments for US$43mil in preferred equity and has secured US$83mil of additional liquidity from existing lenders.