Boston REIT Buys Sonesta in $174M Deal
From The Boston Globe
Boston REIT Buys Sonesta in $174M Deal
Boston’s Sonesta International Hotels Corp. is being sold for $174 million to an affiliate of a Boston-area real estate investment trust, the companies said yesterday.
The Sonesta name and its management team will remain in place as a subsidiary of Hospitality Properties Trust. Sonesta owns the Royal Sonesta Hotel Boston and leases the Royal Sonesta Hotel New Orleans.
It also operates a condominium hotel in Miami, two hotels in the Caribbean, seven hotels and six cruise ships in Egypt, and 15 hotel franchises in South America. Click here for the full story.
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