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s ⑱ Sonder Sonder Holdings Inc. Reports Strong First Quarter 2021 Results Driven by Rapidly Increasing Travel Demand and Continued Operational Excellence July 7 , 2021 Q1 2021 Revenue of $ 31.6M grew 11 % compared to Q4 2020 $ 77 Revenue per Available Room , Outperforming Traditional Hotels by 2.1x Reaffirms Outlook for FY 2021 Revenue Growth of 49 % Gores Metropoulos II , Inc. Files Form S - 4 in Connection with Previously Announced Business Combination SAN FRANCISCO -- ( BUSINESS WIRE ) -- Sonder Holdings Inc. ( " Sonder " or the " Company " ) , a leading next - generation hospitality company that is redefining the guest experience , today announced financial results for the quarter ending March 31 , 2021. Sonder delivered robust unit and revenue growth , driven by strong indicators of a resurgence in travel demand . The Company believes its results show the differentiated value of its technology- enabled experience for both guests and real estate owners . In April 2021 , Sonder entered into an agreement to combine with Gores Metropoulos II , Inc. ( " GMII " ) ( Nasdaq : GMIIU , GMII and GMIIW ) , a special purpose acquisition company sponsored by affiliates of The Gores Group , LLC and Metropoulos & Co. In connection with its previously announced proposed business combination , GMII today announced the filing with the U.S. Securities and Exchange Commission ( " SEC " ) of a registration statement on Form S - 4 ( the " Registration Statement " ) , which contains a preliminary proxy statement / prospectus / consent solicitation statement . " We're thrilled with our strong first quarter results , which exceeded expectations across all key performance metrics . This momentum has continued to intensify through April and May , underscoring the start of what we expect to be a historic travel and hospitality rebound , " said Francis Davidson , Co - Founder and Chief Executive Officer of Sonder . " We anticipate demand will continue increasing as more people feel safe to travel again , creating significant and sustainable tailwinds for Sonder during the traditional peak leisure summer season and beyond . We believe that our tech - enabled , contactless experience provides reassurance to travelers emerging from the pandemic , and that we are well positioned to meet those needs with comfortable and inspiring spaces across the globe . " " We had an exceptionally strong Memorial Day Weekend this year , with Average Daily Rates ( " ADR " ) achieving 95 % + of 2019 Memorial Day Weekend levels , and we're continuing to see this accelerating ADR momentum into Q2 2021 , highlighting the increase in travel demand relative to the start of the pandemic , " said Sanjay Banker , President and Chief Financial Officer of Sonder . " Given the strong start to the year , we are re - affirming our outlook for 2021 full year revenue growth of 49 % , as well as our objective to grow our Total Portfolio by over 6,000 units ( over 50 % growth ) this year . " First Quarter 2021 Financial Results and Corporate Highlights : • Total Revenue of $ 31.6 million , an 11 % increase compared to Q4 2020 • $ 77 Revenue per available room ( " RevPAR " ) , representing 64 % of Q1 2019 ( normalized pre - COVID - 19 pandemic ) levels , and 78 % of Q1 2020 • RevPAR outperformance vs. Traditional Hotels ( upper upscale hotels in cities where Sonder operates ) of approximately 2.1x , up from 0.9x in Q1 2020 • 66 % Occupancy Rate , up from 63 % in Q1 2020 , representing the highest year - over - year improvement since Q2 2019 • Total Portfolio growth to approximately 5,000 Live Units and over 13,000 total Live and Contracted Units as of May 31 , 2021 • Expansion into Spain with the addition of live properties in Barcelona and Madrid Combination with Gores Metropoulos II As previously announced on April 30 , 2021 , Sonder entered into an agreement to combine with GMII . As part of the transaction , Sonder and GMII raised a $ 200 million fully committed PIPE , led by an affiliate of The Gores Group , with participation from top - tier institutional investors , including Fidelity Management & Research Company LLC , funds and accounts managed by BlackRock , Atreides Management , LP , entities affiliated with Moore Capital Management , Principal Global Investors , LLC , and Senator Investment Group . The closing of the transaction and PIPE financing , which is expected to occur in the second half of 2021 , is subject to certain customary closing conditions , including , among others , regulatory review and approval by GMII's stockholders . " We are confident that entering the public markets through our merger with Gores Metropoulos II will enable us to best capitalize on this momentum and our significant , growing market opportunity , further solidifying our position as the iconic 21st century brand in hospitality , " continued Davidson . Further information about Sonder and its full first quarter fiscal year 2021 results can be found in the registration statement on Form S - 4 and preliminary proxy statement / prospectus / consent solicitation statement contained therein that has been filed by GMII with the SEC . While the registration statement has not yet become effective and the information contained therein is subject to change , it provides important information about Sonder and GMII , as well as the proposed business combination .