Sonder Jumps 137% as Marriott Throws Name Behind Struggling Firm

Sonder Holdings Inc. shares more than doubled after the alternative-lodging company reached a series of deals to raise capital and integrate its brand into Marriott International Inc.’s system.

The company, which operates more than 9,000 boutique hotel rooms and apartment-style short-term rentals, said in a statement Monday that it has commitments for $43 million in preferred equity and has secured $83 million of additional liquidity from existing lenders.

Sonder has also entered into a long-term licensing agreement that will make its properties available on Marriott’s platforms under the “Sonder by Marriott Bonvoy” banner. Sonder will pay royalties to Marriott ...