Sonesta International Hotels Corp. announced Thursday that it will be acquired by an affiliate of Newton, Massachusetts-based Hospitality Properties Trust (HPT) for US$31 per share in cash, or approximately US$174 million in total purchase price including assumed debt and other liabilities.
HPT also said Thursday it agreed to acquire the Royal Sonesta Hotel in New Orleans and the Royal Sonesta Hotel in Cambridge, Massachusetts, for about US$150.5 million. HPT expects to close on the deal — under which the hotels will continue to be managed by the same management team currently in place — in the first quarter of next year.
“HPT is pleased to be adding the Sonesta management team to the operators with whom it does business,” said HPT President John Murray. “Sonesta is a niche brand with a strong reputation for high-quality accommodations and guest services. HPT looks forward to working with Sonesta personnel to expand the Sonesta brand.”