Sonder Holdings Inc. (NASDAQ: SOND) has decided to add two additional prime properties in Barcelona and Madrid. Sonder will open a 118-room hotel on Gran Via in Madrid, just steps away from Plaza de Espaa. The property will have a rooftop with city views and is scheduled to open in late 2024. Azotea Grupo, a leading gastronomic hospitality group, will oversee the on-site food and beverage offerings.
The hotel will be located next to Sonder's established serviced apartment property in Madrid, the Sonder Malasaa, which opened in January 2021. In Barcelona, Sonder will open a 65-unit hotel on Paseo de Gracia. It is surrounded by some of the city's most celebrated architectural works. Sonder's Paseo de Gracia location, which is set to open in the second half of 2022, will include a rooftop terrace and courtyard garden.
Furthermore, it will be added to Sonder's existing portfolio of five hotels in Barcelona, which includes the five-star grand luxe Do Plaça Real and Casa Luz, which features a buzzing rooftop restaurant, both of which will open in summer 2021. Additionally, The landlord of Sonder Paseo de Gracia is Alting Grupo Inmobiliario, a real estate group with a business model focused on the investment and management of prime real estate assets.
Moreover, once the renovations are completed, Alting Grupo Inmobiliario has chosen Sonder as the operator of this five-star hotel. JLL Hotels & Hospitality Group provided transaction advice. Sonder, based in San Francisco, runs in 35+ cities across ten countries, seven of which are in EMEA, and has roughly 18,100 live and contracted units globally. To operate and manage hotels and multi-unit buildings, the company collaborates with real estate owners and landlords. Sonder differentiates itself in the hospitality industry by incorporating modern design and technology into the guest experience.