Takeaway: Sonder is expecting insane levels of growth, and despite being in a capital-intensive business, sees a rapid path to profitability. This presentation (the "Presentation") contemplates a business combination (the "Transaction") involving Forest Road Acquisit ion Corp. ("FRX"), Beachbody, LLC ("Beachbody") and . SPAC IPO Slides. On the exterior Sonder looks like it is operating like any other short-term rental platform such as Airbnb or VRBO, but with a bit of added panache and a more luxurious appeal in terms of listings. To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. -, Sonder Holdings Inc. Reports Inducement Grants under Nasdaq Listing Rule 5635(4), Sonder Holdings Inc. Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4), Sonder Holdings Inc. to Report Fourth Quarter and Full Year 2022 Financial Results on March 1, 2023. "It's pretty . Sonder forecasts their 2025 GAAP revenue to grow to a whopping $4B at a 103% CAGR (2020-2025). Decoding Airbnbs strategic priorities for 2023, Airbnb Attains Yearly Profitability for First Time in 2022, Breaking Records With Most Profitable Quarter Ever, Start using PriceLabs for free for 30 days, Property Management System for Vacation Rentals. Sonder Holdings Inc. is merging with Gores Metropoulos II Inc. (GM II), a SPAC sponsored by an affiliate of The Gores Group LLC, a global investment firm founded in 1987 by Alec Gores, and by an affiliate of Dean Metropoulos of Metropoulos & Co. At the beginning, Sonder focused on taking over the management over multi-family buildings in order to offer urban apartments on sites such as Airbnb. Blend's cloud-based software platform is designed to power the end-to-end consumer journey for any banking product from application to close. So you do not need to waste the time on rewritings. KBW Fintech Payments Conference. Cash Contribution is defined as operating cash flow before other operating expenses, excluding the impact of restructuring charges, if any. We won't send you spam. Property Level Profit (Loss) ("PLP" or "PLL") is defined as profit (loss) from operations after adding back corporate-level expenses less Property Level Costs, excluding the impact of restructuring charges, if any. Please try again. Use this banker system to make startup emails work for your team, Ask dumb questions. None of Volts proprietary content may be reproduced or referenced, in full or in part, in any other publication without the expressed written consent of Volt. According to Sonder, they sign multi-year fixed leases, mixed leases, or revenue shares as the anchor or sole tenant in your current properties and development projects, increasing NOI (Net Operating Income), accelerating lease-ups, and helping de-risk cash flow. Instead, guests are sent a secure key code prior to arrival for a completely contactless check-in. According to Sonder, they sign multi-year fixed leases, mixed leases, or revenue shares as the anchor or sole tenant in your current properties and development projects, increasing NOI (Net Operating Income), accelerating lease-ups, and helping de-risk cash flow. Corporate Documents Flora Filings. SoFi delivered over $200 million in total net revenue in the third quarter of 2020 and is on track to generate approximately $1 billion of estimated adjusted net revenue in 2021, representing. Before COVID-19, Sonder was pretty much agnostic when it came to listing on OTAs such as Airbnb and Booking.com. Each Sonder is purposefully selected, designed and maintained customized to reflect the vibe of its neighbourhood. Year-End Financials. At a valuation of ~$2B and considering their estimated 2022 revenue, Sonder's revenue multiple would fall below the median multiple of upscale lodging companies like Hilton and Mariott, just above the median multiple of digital hospitality and real estate companies like Redfin and Tripadavisor, and below the median multiple of vertical disruptors like Uber, Doordash, and Airbnb. check out the ultimate pitch deck collection here! Sonder is revolutionizing hospitality through innovative, tech-powered service and inspiring, thoughtfully designed accommodations combined into one seamlessly managed experience. In Sonder's November investor presentation, they conservatively projected their revenue to grow to ~$4B in 2025. Ultimately, it may become the operating system for the hospitality industry in the future. He also leads innovative projects for companies within the vacation rental industry. 11, 2019 120 likes 116,006 views Download Now Download to read offline Travel Building the next generation hospitality brand with $225 million in new funding. Hostaway is proud to support thousands of Property Managers and Airbnb Hosts Around the world. Largest Addressable Market of Any Prescription Weight Management Approach FDA-Cleared Proprietary Nature-Inspired Solution Protected by a Large Portfolio of Patents Unique Go to Market Strategy Delivering Affordable Solution with Easy Access, Speed & Transparency Strong R&D Pipeline Targeting Adjacent Markets Learn More Latest News Beverly Hills, CA 90212. Sonder strives to set up shop in a city by absorbing its culture, listening to its needs, and responding accordingly. Some also include access to building amenities such as game rooms and movie theatres. Sonder believes that these non-GAAP financial measures are useful in evaluating its operating performance, and may assist investors in comparisons with other companies, some of which use similar non-GAAP financial information to supplement their GAAP results. Scribd is the world's largest social reading and publishing site. Once again, Sonder explains how it blends its real-estate expertise, tech-savviness, and interior design to offer a consistent guest experience at an attractive price. 2021 FY Filings 2020 FY Filings . This is in contrast to Airbnb, which acts as a marketplace between guests and hosts, neither leasing or owning any property. In essence, Sonder is a hotel-quality room without the commercial feel of a hotel. Sonder has raised more than $560 million to date, with its Series E round in 2020 giving the company a $1.3 billion valuation. Further information about these measures appears under "Key Terms" below. Sonder is a hospitality company focused at short-term rentals. The content should not be considered investment advice and is for educational purposes only. By whitelisting SlideShare on your ad-blocker, you are supporting our community of content creators. Highlights from the presentation are below. The transaction includes a $200 million private placement led by an affiliate of Gores Group, the investment firm founded by the SPACs CEO Alec Gores, and includes participation from Fidelity Management & Research Company, funds and accounts managed by BlackRock, Atreides Management, entities affiliated with Moore Capital Management, Principal Global Investors, and Senator Investment Group. 08/11/2022. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. FLGC: $0.37: Q3 2022 FLGC Earnings Call. 2023-01-24. March 22, 2021. Stocks - Flora Growth. T 310 209 3010. Instant access to millions of ebooks, audiobooks, magazines, podcasts and more. Investors should also understand that there is no guarantee that Volts investment strategies or decisions will prove to be profitable. After submitting your request, you will receive an activation email to the requested email . Sonder Holdings Inc. Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4), Sonder Holdings Inc. to Report Fourth Quarter and Full Year 2022 Financial Results on March 1, 2023, Sonder Holdings Inc. Occupancy Rate ("OR") is defined as Occupied Nights divided by Bookable Nights, expressed as a percentage. Debarshi Ghosh. We reserve the right to block IP addresses that submit excessive requests. It could be that bookings from OTAs like Airbnb and Booking.com were canceled by force majeure and that Sonders direct bookings were not. For local inhabitants and businesses, the disaster is also economic. We deliver in-depth reporting, independent analysis and exclusive interviews Every week, straight in your inbox. JavaScript is disabled! document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. Subscribe to Rental Scale-Ups newsletter to make better business decisions and stay ahead of your competitors. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Travel News, Airline Industry News and Hotel Industry News by Skift The tech goes from mapping real-estate opportunities and potential RevPar, running its furniture warehouse, listing properties on OTAs, pricing automation, to housekeeping and maintenance. EBITDA margin going from (181%) in 2020 to 16% in 2025. Cyxtera Management Q2 2022 Earnings Call. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Sonder's management's control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. <iframe src="https://www.googletagmanager.com/ns.html?id=GTM-T9S432" height="0" width="0" style="display:none;visibility:hidden"></iframe> Sonder had actually always be hotel-like in its services, but stricter city regulations had pushed it to seek hotel licenses even before COVID-19 started. Governance. Distributed by Public, unedited and unaltered, on 10 August 2022 21:08:00 UTC. Like many companies in late 2020 and early 2021, it is going public via a special acquisition company (SPAC). By providing 24/7 guest support, self-check-in, stocked kitchens, crisp linens, and everyday amenities, Sonder ensures a unique, yet consistent experience. Heliogen is a renewable energy technology company focused on eliminating the need for fossil fuels in heavy industry and powering a sustainable future. Also, securities and options traded in over-the-counter markets may trade less frequently and in limited volumes and thus exhibit more volatility and liquidity risk.The content on this site is not intended to serve as financial advice nor should it be the sole basis for any investment decisions. Heres what Sonder offers to its stakeholders: Sonder is not going public through an IPO as Airbnb did. Your submission has been received! Private Equity/Venture Capital/Angel Investor in the Fintech/Blockchain and Hotel/Hospitality Sector, Do not sell or share my personal information. Volt does not seek to solicit or offer any of its products or services to any persons to whom doing so would otherwise be prohibited under the laws applicable to their place of citizenship, domicile or residence.Some of the content on this site may contain forward-looking statements, including but not limited to statements related to future expectations, based on Volts current outlook and assumptions. In cities, Sonder wants to compete against upper upscale hotels. FF&E Allowance Realized represents cash payments from real estate owners received for capital expenditure financing. All this allows them to cut down on operating costs by as much as ~50%. Thanks to savings due to tech automation, guest rates are supposed to be very competitive for the value offered. Takeaway: Given industry multiples and Sonder's growth rate, Sonder's valuation seems like the deal of a lifetime. To keep up, drop us a line - wed love to hear from you! Landlord Payments represent cash payments to real estate owners recognizing abatement at the time it is utilized (often at the commencement of a real estate contract), expressed in U.S. dollars. Cash Contribution Margin is defined as Cash Contribution as a percentage of revenue. As an example, Sonder partners with an apartment REIT (Real Estate Investment Trust) and signs a lease for an unfinished property in order to renovate and operate the property. The Sonder and GM II and their respective affiliates own or have rights to various that Sonder's Investor Presentations. Sonder is showing projected metrics for 2025 that want to match its promises of an upscale positioning at a compelling price point ($220 ADR), great demand generation (77% occupancy), and contained real-estate and operating costs (32% margin on property level). Your request has been identified as part of a network of automated tools outside of the acceptable policy and will be managed until action is taken to declare your traffic. Investors should be aware of the inherent risks involved in investing in the markets and that past performance is not an indication of future results. Yet, as the company wanted to grow in markets hostile to short-term rentals, such as New York City, it started adding hotel properties that could be modernized and would comply with local regulations.What Sonder was actually building was a hospitality brand and it could stretch across various property types. Get research, business strategy, and tech analysis delivered to your inbox. In addition, the manager can set the temperature and turn on lights before guests arrive to ensure the most welcoming environment; turn off the heating and lights when guests depart to conserve energy; and coordinate housekeeping, cleaning, and maintenance. Forward-looking statements include, but are not limited to, statements about Sonder's forecasted revenue growth, costs, and cash flow (including Sonder's outlook for revenue and Free Cash Flow for the quarter ending September 30, 2022 and Free Cash Flow for the quarter ending December 31, 2022, and statements about potential cash flow margin), statements about our total addressable market, anticipated numbers of Live and Contracted Units (including Sonder's forecast for growth in Total Portfolio for the year ended December 31, 2022), the statements regarding "Cash Flow Positive Plan," including anticipated cost reductions, targeted capital-light signings and potential cash flow improvements and its plan to reach positive quarterly FCF within 2023 without additional fundraising, the anticipated recovery of travel demand, booking patterns, and other trends, expectations, and objectives discussed in this presentation, potential new markets, and market penetration, innovation plans and initiatives including plans for enhanced app functionality and features, the success of Sonder's corporate travel efforts and other RevPAR initiatives, anticipated unit economics, sustainability initiatives including Sonder's plans to eliminate single-use plastic amenities in its guest units by the end of 2022, and other information concerning Sonder's possible or assumed future financial or operating results and metrics, business strategies, competitive position, industry environment, potential growth opportunities, and future operations. However, Sonder's definitions may differ from the definitions used by other companies and therefore comparability may be limited. For more investment insights, sign up for our email list below and subscribe to our YouTube channel. Occupied Nights represent the total number of nights occupied across all Live Units. He owns vacation rentals in St. Barths and Bali. Furthermore, developers are not burdened with ongoing costs associated with tenant turnover and building maintenance. . Visit us on Twitter; Visit us on . The developer gets 100% occupancy immediately after completion, which is a great deal for them. selina investor presentation. GAAP rent straight lines abatement and future escalation payments over the duration of the real estate contract. This recognizes the economic substance of the payment to real estate owners as reflected in the real estate contract (e.g., if Sonder's Takeover Date, the date on which Sonder receives the keys and is able to begin opening the building, was January 1, 2021 and it had three months of abatement at the beginning of the real estate contract, the Landlord Payments for the building in the first quarter of 2021 would be $0). Presentation. Your email address will not be published. Hostaway takes pride in aligning itself with the needs of the fast evolving landscape and always provide reliable technology and great support. Essentially, Sonder is highly ambitious in its aims to become the next Hilton or Marriott, while simultaneously being a highly tech-savvy company. The content and proprietary research found on this site, unless stated otherwise, has been entirely produced by Volt. Sonder currently operates more than 300 properties across 35 markets in eight countries. We plan to have a multi-part series diving into Sonder's competition, strategy, leadership, and more. Webcast. Sonder Holdings Inc. ("Sonder"), a leading next-generation hospitality company that is redefining the guest experience through technology and design, today announced new appointments to its Board of Directors. https://www.rentalscaleup.com/author/thibault-masson/, Vrbo to Switch to Expedia Group Platform in 2023: Challenges and Opportunities. 27 Jan 2023. And Adj. 74% of Sonder's stock will remain owned by existing shareholders. Through innovative technology and thoughtfully designed accommodations, Sonder is revolutionizing the hospitality industry Combined company to have an estimated pro forma enterprise value of approximately $2.2 billion Business combination includes $650 million of cash proceeds from Gores Metropoulos II before expenses, real estate targeting, warehouse and inventory management, logistics planning, etc.). While many of its well-funded rivals like Stay Alfred and Airbnb-backed Lyric have folded, Sonder's occupancy rate has returned to its pre-pandemic level of near 80%. The modern design and highly streamlined technology allow guests and managers to have a seamless, consistent experience.
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