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Highlights

  • Q4 2024 revenue was USD161 million, down 2% year-over-year; net income rose 128% to USD31 million
  • Full-year 2024 revenue grew 3% to USD621 million; net loss narrowed by 24% to USD224 million
  • Adjusted EBITDAR increased 20% in Q4 to USD50 million and 30% for the full year to USD196 million
  • Marriott integration finalized; all Sonder properties now bookable through Marriott Bonvoy

Sonder Holdings Inc. reported its fourth quarter and full-year 2024 results, marking progress in profitability and platform expansion. The company also finalized its integration with Marriott International’s digital ecosystem during the second quarter of 2025.

Sonder is a global hospitality brand offering premium, design-forward apartments and boutique hotels in major cities across three continents.

Fourth quarter revenue totaled USD161 million, a slight decrease from the previous year, while net income climbed to USD31 million. The increase was driven in part by a USD(92) million fair value adjustment on a forward contract tied to a preferred stock transaction completed in August 2024.

Key operating metrics for the quarter included RevPAR of USD180, up 19% year-over-year, and an 85% occupancy rate. Bookable nights declined 18% to 897,000 due to ongoing portfolio restructuring efforts. Adjusted EBITDA improved to USD(20) million, while adjusted EBITDAR rose 20% to USD50 million.

As of December 31, 2024, the company reported USD72 million in total cash, of which USD51 million was restricted.

For the full year, Sonder generated USD621 million in revenue, representing a 3% increase. Net loss narrowed to USD224 million, reflecting a 24% year-over-year improvement. The loss includes a USD93 million lease adjustment gain, an USD 84 million loss on preferred stock issuance, and a USD29 million change in fair value of the related forward contract.

Annual RevPAR increased 5% to USD159, though occupancy fell one point to 81%. Bookable nights totaled 3.9 million, down 2%. Adjusted EBITDA for the year was USD(105) million, up 38% from 2023, and adjusted EBITDAR improved 30% to USD196 million.

In August 2024, Sonder entered into a licensing agreement with Marriott International. All Sonder properties are now featured on Marriott’s booking channels and are part of the Marriott Bonvoy program under the “Sonder by Marriott Bonvoy” label.

The company also advanced its portfolio optimization program, launched in late 2023, which targeted exits or rent reductions for underperforming assets. By year-end 2024, Sonder had signed agreements affecting approximately 4,500 units across 110 buildings. Of the 85 buildings with finalized exit terms, 80 had been exited by December 31, with full exit of all 85 completed by June 30, 2025.