Sonder Holdings Inc. (“Sonder”), a leading next-generation
hospitality company that is redefining the guest experience through
technology and design, will add two additional buildings to its
growing portfolio in Dubai, United Arab Emirates. Through an
agreement with Al Fattan Properties LLC, Sonder will manage and
operate two of the three Al Fattan Towers in Downtown, with views
on Burj Khalifa, to be operated as Sonder Downtown Towers.
Comprising spacious two- and three-bedroom apartments, ranging
between 1,900 and 2,400 square feet, these towers add over 300
units to Sonder’s existing portfolio of operations in Dubai. The
company currently manages and operates JBR Suites, a 164-unit
property in Jumeirah Beach Residence (JBR) which has been open to
guests for over a year. Sonder is also exploring additional
expansion into the Palm Jumeirah, Dubai Marina, La Mer, City Walk
and DIFC areas of Dubai.
“We’re pleased to continue to partner with Sonder, whose
innovative and guest-centric approach to hospitality addresses the
preferences of the modern, urban, family and business travelers
that frequents Dubai,” said Soby Joseph, executive director of Al
Fattan Properties LLC. “Sonder is a well-capitalized operator that
provides peace of mind and fixed income for real estate assets.
They continue to be one of our preferred partners for developments
in Dubai.”
“We remain bullish on expansion in Dubai as it is one of the
most visited cities in the world, renowned for its beautiful design
and architecture and is a global real estate hub. These are all
attributes that fit perfectly with the Sonder brand and mission and
we plan to continue developing Sonder’s footprint in the region,”
said Martin Picard, Global Head of Real Estate for Sonder. “We’ve
seen very strong performance from our inaugural Dubai property, JBR
Suites. We are extremely pleased to be partnering again with Al
Fattan to take on operations of what will be Sonder’s fourth
largest signing in terms of units.
In order to support the company’s expansion in the region,
Sonder also recently appointed Rishad Poonawalla to the
newly-created role of director of real estate in Dubai. Rishad
brings over 15 years of global real estate and hospitality
development and acquisition experience to Sonder, with time
previously spent in Dubai with the Jumeirah Group, Whitbread Plc
(Premier Inn Hotels), as well as Ernst & Young’s Transaction
Real Estate & Hospitality practice.
Headquartered in San Francisco, Sonder is present in 35+ cities
in nine countries, with approximately 15,000 live and contracted
units worldwide. The company partners with real estate owners and
landlords to lease hotel and apartment buildings and design, manage
and operate them. Sonder distinguishes itself in the hospitality
industry through forward thinking design and by infusing technology
into its 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.
All Sonder spaces in Dubai are equipped with a full in-unit
kitchen and balcony, as well as access to a fully-equipped gym,
large pool and laundry services. The Sonder Downtown Towers are
slated to open to guests later this year.
This announcement follows the recent news of Sonder’s plans to
be publicly listed through a business combination with Gores
Metropoulos II (Nasdaq: GMIIU, GMII and GMIIW).
To explore Sonder real estate partnership opportunities, please
contact partners@sonder.com.
About Sonder
Sonder is revolutionizing hospitality through innovative,
tech-powered service and inspiring, thoughtfully designed
accommodations combined into one seamlessly managed experience.
Officially launched in 2014 and headquartered in San Francisco,
Sonder is making a world of better stays open to all with a variety
of accommodation options — from rooms to suites and apartments —
found in 35+ cities spanning nine countries and three continents.
Sonder’s innovative app empowers guests by making self-service
features and 24/7 on-the-ground support just a tap away. From
simple self check-in to boutique bathroom amenities, we bring the
best of a hotel without any of the formality.
To learn more, visit www.sonder.com or follow Sonder on
Facebook, Twitter or Instagram. Download the Sonder app on Apple or
Google Play.
Additional Information and Where to Find It
Additional information about the proposed business combination
between Sonder and Gores Metropoulos II, Inc. (“GMII”), including a
copy of the Merger Agreement provided in a Current Report on Form
8-K filed by GMII with the SEC on April 30, 2021, and a copy of an
updated investor presentation provided in a Current Report on Form
8-K filed by GMII with the SEC on July 7, 2021, is available at
www.sec.gov. In connection with the
proposed business combination, GMII has filed a registration
statement on Form S-4 (the “Registration Statement”) that includes
a preliminary proxy statement, prospectus and consent solicitation
statement with respect to GMII’s securities to be issued in
connection with the proposed business combination. The Registration
Statement is not yet effective. The Registration Statement,
including the proxy statement/prospectus/consent solicitation
statement contained therein, when it is declared effective by the
SEC, will contain important information about the proposed business
combination and the other matters to be voted upon at a meeting of
GMII’s stockholders to be held to approve the proposed business
combination and other matters (the “Special Meeting”) and is not
intended to provide the basis for any investment decision or any
other decision in respect of such matters. GMII may also file other
documents regarding the proposed business combination with the SEC.
GMII stockholders and other interested persons are advised to read,
when available, the Registration Statement and the proxy
statement/prospectus/consent solicitation statement, as well as any
amendments or supplements thereto, because they will contain
important information about the proposed business combination.
When available, the definitive proxy
statement/prospectus/consent solicitation statement will be mailed
to GMII stockholders as of a record date to be established for
voting on the proposed business combination and the other matters
to be voted upon at the Special Meeting. GMII investors and
securityholders will also be able to obtain copies of the
definitive proxy statement/prospectus/ consent solicitation
statement, without charge, once available, at the SEC’s website at
www.sec.gov or by directing a request to: 6260 Lookout Road,
Boulder, CO 80301, attention: Jennifer Kwon Chou, or by contacting
Morrow Sodali LLC, GMII’s proxy solicitor, for help, toll-free at
(800) 662-5200 (banks and brokers can call collect at (203)
658-9400).
Participants in Solicitation
GMII, Sonder and their respective directors and officers may be
deemed participants in the solicitation of proxies of GMII
stockholders in connection with the proposed business combination.
GMII stockholders and other interested persons may obtain, without
charge, more detailed information regarding the interests of those
persons and other persons who may be deemed participants in the
proposed business combination by reading GMII’s registration
statement on Form S-1 (File No. 333-251663), which was declared
effective by the SEC on January 19, 2021, and the proxy
statement/prospectus/consent solicitation statement regarding the
proposed business combination.
You may obtain free copies of these documents as described in
the preceding paragraph.
Forward-Looking Statements
This press release contains a number of “forward-looking
statements” as defined in the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include, but are not
limited to, statements about Sonder’s forecasted revenue growth
(including Sonder’s outlook for Total Revenue and Adjusted EBITDA
for the year ended December 31, 2021), Sonder’s growth in total
unit portfolio (including Sonder’s forecast for growth in Total
Portfolio for the year ended December 31, 2021), information
concerning GMII’s or Sonder’s possible or assumed future financial
or operating results and metrics, business strategies, debt levels,
competitive position, industry environment, potential growth
opportunities, future operations, products and services, planned
openings, expected unit contractings and the effects of regulation,
including whether the proposed business combination will generate
returns for stockholders. These forward-looking statements are
based on GMII’s or Sonder’s management’s current expectations,
estimates, projections and beliefs, as well as a number of
assumptions concerning future events. When used in this press
release, the words “estimates,” “projected,” “expects,”
“anticipates,” “forecasts,” “plans,” “intends,” “believes,”
“seeks,” “may,” “will,” “should,” “future,” “propose” and
variations of these words or similar expressions (or the negative
versions of such words or expressions) are intended to identify
forward-looking statements. These forward-looking statements are
not guarantees of future performance, conditions or results, and
involve a number of known and unknown risks, uncertainties,
assumptions and other important factors, many of which are outside
GMII’s or Sonder’s management’s control, that could cause actual
results to differ materially from the results discussed in the
forward-looking statements. These risks, uncertainties, assumptions
and other important factors include, but are not limited to: (a)
the occurrence of any event, change or other circumstances that
could give rise to the termination of the Merger Agreement and the
proposed business combination contemplated thereby; (b) the
inability to complete the proposed business combination due to the
failure to obtain approval of the stockholders of GMII or other
conditions to closing in the Merger Agreement; (c) the ability to
meet Nasdaq’s listing standards following the consummation of the
proposed business combination; (d) the inability to complete the
PIPE; (e) the risk that the proposed business combination disrupts
current plans and operations of Sonder or its subsidiaries as a
result of the announcement and consummation of the transactions
described herein; (f) the ability to recognize the anticipated
benefits of the proposed business combination, which may be
affected by, among other things, competition, the ability of the
combined company to grow and manage growth profitably, maintain
relationships with customers and suppliers and retain its
management and key employees; (g) costs related to the proposed
business combination; (h) changes in applicable laws or
regulations, including legal or regulatory developments (such as
the SEC’s statement on accounting and reporting considerations for
warrants in special purpose acquisition companies); (i) the
possibility that Sonder may be adversely affected by other
economic, business and/or competitive factors; (j) risks related to
the impact of the COVID-19 pandemic, including the Delta variant
and potential governmental and other restrictions (including travel
restrictions) resulting therefrom; and (k) other risks and
uncertainties described in the final proxy
statement/prospectus/consent solicitation statement, including
those under the heading “Risk Factors” therein, and other documents
filed by GMII from time to time with the SEC. You are cautioned not
to place undue reliance upon any forward-looking statements, which
speak only as of the date made. Except as required by law, neither
GMII nor Sonder undertakes any obligation to update or revise its
forward-looking statements to reflect events or circumstances after
the date of this release. Additional risks and uncertainties are
identified and discussed in GMII’s reports filed and to be filed
with the SEC and available at the SEC’s website at www.sec.gov.
No Offer or Solicitation
This communication relates to a proposed business combination
between GMII and Sonder. This document does not constitute an offer
to sell or exchange, or the solicitation of an offer to buy or
exchange, any securities, nor shall there be any sale of securities
in any jurisdiction in which such offer, sale or exchange would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210817005332/en/
Kate Cory press@sonder.com
Gores Metropoulos II (NASDAQ:GMII)
Historical Stock Chart
From Mar 2024 to Apr 2024
Gores Metropoulos II (NASDAQ:GMII)
Historical Stock Chart
From Apr 2023 to Apr 2024