Short-term rental company Sonder plans to add eight properties to its existing portfolio of four properties in Mexico City, the company announced. The additions represent an expansion of more than 600 units in less than a year after the company first launched operations in the city.
Sonder plans to open the new properties over the next two years, with the first ones expected to debut by the end of 2021. They primarily will be located in the Condesa and Roma neighborhoods, according to the company.
The company in May announced plans to go public by merging with special purpose acquisition company Gores Metropoulous II with a valuation of $2.2 billion. In July, it announced partnerships with multiple global distribution systems and travel management companies in an effort to expand its corporate travel business.
Sonder reported record quarterly revenue of $47.3 million for the second quarter of 2021, up 151 percent year over year. Revenue per available room was $100, a 112 percent year-over-year increase and a 30 percent increase over Q1 2021. Its occupancy rate was 68 percent for the quarter, up from 57 percent in Q2 2020.
Sonder Targets Corporate Travel with GDS, TMC Deals
