\nSonder Holdings Inc. (\u201c<\/i>Sonder\u201d or the \u201cCompany\u201d<\/i>), a leading next-generation hospitality company that is redefining the guest experience through technology and design, today announced financial results for the three months ended June 30, 2021. Sonder delivered its strongest quarterly revenue in the Company\u2019s history, driven by a robust recovery of leisure travel demand and the continued rapid expansion of its Live Unit portfolio.\n<\/p>\n
\n\u201cQ2 was an outstanding quarter for Sonder. We delivered our highest single quarter revenue in the Company\u2019s history and more than doubled RevPAR year-over-year,\u201d said Francis Davidson, Co-Founder and Chief Executive Officer of Sonder. \u201cOur stellar results are a testament to our ability to attract and delight guests, as traveler preferences have evolved to seek out modern, tech-enabled spaces that fit a variety of needs and lifestyles. The inspired, tech-enabled design, consistent quality and compelling value that are hallmarks of the Sonder brand also position us to serve emerging travel trends such as long-term stays and digital nomadism.\u201d\n<\/p>\n
\nDavidson continued, \u201cWe continue to outperform traditional hotel RevPAR during the pandemic \u2013 by at least 40% in each of the past two quarters. Our Total Portfolio continues to expand rapidly and we\u2019re on track to surpass 18,000 units by end of year, which gives us confidence in our ability to hit the aggressive growth targets we\u2019ve set for 2022 and beyond.\u201d\n<\/p>\n
\n\u201cGiven the strong RevPAR outperformance through the first half of the year, and the rapid addition of new units to our portfolio, we are raising our outlook for 2021 Total Revenue,\u201d said Sanjay Banker, President and Chief Financial Officer of Sonder. \u201cThis increase from our initial outlook reflects Sonder\u2019s belief that the recent surge in leisure travel recovery is sustainable and our proven ability to capitalize on this demand for better stays at an exceptional value.\u201d\n<\/p>\n
\nThe rebound in travel demand was underscored in a recent Sonder report<\/a>, conducted in partnership with Ipsos, indicating that a majority of U.S. adults have plans for personal travel in the coming months. In the nationwide survey of U.S. adults 18 years or older, roughly two-thirds (62%) of survey respondents indicated they will travel for personal reasons before the end of 2021. Another six-in-ten (59%) Americans were interested in being a \u201cdigital nomad\u201d \u2013 or working remotely on a long-term trip \u2013 with interest higher among younger adults aged 18-34 (74%), followed closely by those planning to travel with kids (69%).\n<\/p>\n Second Quarter 2021 Financial Results and Corporate Highlights<\/b><\/p>\n Financial Outlook<\/b><\/p>\n \nSonder is updating its outlook for its full year ending December 31, 2021 as follows:\n<\/p>\n Financial Summary and Operating Results<\/b><\/p>\n\n
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