Hospitality Properties Trust Closes Sonesta Acquisition
Hospitality Properties Trust (NYSE: HPT) announced that it has closed its previously announced acquisition of the Royal Sonesta Hotels in Cambridge, MA (400 keys, two restaurants and 22,000 sq.ft. of meeting space) and in New Orleans, LA (483 keys, five restaurants and 20,000 sq.ft. of meeting space) for $150.5 million on previously announced terms.
Hospitality Properties Trust (NYSE: HPT) announced that it has closed its previously announced acquisition of the Royal Sonesta Hotels in Cambridge, MA (400 keys, two restaurants and 22,000 sq.ft. of meeting space) and in New Orleans, LA (483 keys, five restaurants and 20,000 sq.ft. of meeting space) for $150.5 million on previously announced terms.
These hotels will be managed by Sonesta Acquisition Corp. (“SAC”) which simultaneously completed its merger with Sonesta International Hotels Corporation (NASDAQ GLOBAL: SNSTA). SNSTA ceased to be a publicly owned company after this merger and SAC changed its name to “Sonesta International Hotels Corporation”.
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