Short-term rental company Sonder will open in three DC buildings – Trade Observer
probe, a short-term rental provider, is opening three new locations in the district this year.
The fast-growing unicorn offers a mix of apartments, hotels and vacation rentals, often running apartment blocks in residential buildings as short-term rental units.
Sonder will offer a total of 280 units at University Investment Groupit is Georgetown C&O at 1111 30th Street NO; mmgit is Europe at 818 Potomac Avenue SE in the row of barracks; and Urban Investment Partners‘ The Quincy at 1823 L NW Street.
The spaces are a mix of traditional apartments and short-term rentals.
“A top tourist destination, Washington, DC is a city rich in renowned historical and cultural attractions, including award-winning museums, culinary gems, world-famous landmarks and, of course, the White House.” Ashley Reiser, director of real estate for Sonder in Washington, DC, told Commercial Observer. “We are excited to expand our footprint with these three new locations, building on our existing relationships in the community and working with leading real estate partners. »
Customers can take advantage of Sonder’s technology experience, which includes the ability to check in and out through the Sonder app.
“All three buildings are located in desirable, walkable areas of town and offer unique and attractive perks, like fully equipped kitchens or kitchenettes and laundry facilities,” Reiser said. “They all provide a comfortable and welcoming space to relax, whether after a long day of sightseeing or a day of work.”
Sonder is no stranger to the area as he already has space in MMg’s Callisto at 816 Potomac Avenue SE, beside Europe.
The company agreed to Go in public by merger with the ad hoc acquisition company (SPAC) Gores Metropoulos II in May with a valuation of $2.2 billion. It is slated for a shareholder vote on Friday, but with a valuation of $1.9 billion after a downgrade in November 2021.
In an investor presentation last year, CO reported that the co-founder and CEO of Sonder Francois Davidson announced that he wanted the company to become “the Amazon of hospitality” and plans to reach $4 billion in revenue by 2025.
Recent Short-Term Rental Tracker Data AirDNA active rentals disclosed in DC fell to 6,210 in Q4 2021 from 7,162 in Q1.
“As the COVID-19 pandemic has had a significant impact on the travel and hospitality industries, Sonder is well positioned to meet the changing needs of the modern traveler seeking a consistent, comfortable and reliable hotel experience. “, said Reiser. “We’ve seen a variety of travelers looking for reliable extended stay options, for things like temporary relocation, week-long business trips, ‘staycations’ or a digital nomad lifestyle.”
More recently, despite the omicron variant, the company has seen strong demand at its US properties, with revenue per available room increasing by more than 10% on New Year’s Eve compared to the same day in 2019, and almost the double the 2020 level, Reiser said.
Keith Loria can be reached at [email protected].