Marriott Drops Sonder a Lifeline
Photo Credit: A Sonder building in central London. Skift
Skift Take
Marriott International has entered a long-term licensing agreement with Sonder Holdings to add over 9,000 rooms to its portfolio under a new "Sonder by Marriott Bonvoy" collection, contributing to a projected 2024 net room growth of 6-6.5%.
The DJIA rose 237 points while Nasdaq was up another 245, the S&P 500 rose 54 points and the 10 year treasury yield was down .-.03 to 3.87%. It is all up to Jerome Powell and the Fed to whether this rally continues or not. Either way we could get a sell on news but it will be what happens after the knee jerk reaction that matters. Lodging stocks were higher. SOND surged 131% on the Marriott news while VCSArode their coattails, up 26%.
According to the Ministry of Tourism (Sectur), in the first six months of the year, a total of 41,100,000 tourists have arrived at hotels in Mexico, implying an average occupancy rate of 60%, similar to that report in the same period last year. According to the agency's figures, in the 70 centers that are monitored by the Datatur systems, of the total number of tourists that have arrived at hotel rooms in Mexico, 71.5 % are nationals, while 28.5 percent are foreigners. Cities r
