SVC and Sonesta Amend Existing Management Agreements
NEWTON, Massachusetts—Service Properties Trust announced that it reached an agreement with Sonesta International Hotels Corporation to amend its existing management agreements effective January 1, 2022. SVC currently owns 262 hotels that are managed by Sonesta and 68 of these hotels are expected to be sold, or the sale hotels. Among other terms, the changes to the agreements between SVC and Sonesta for 194 hotels, or the retained hotels, are as follows: The term for the […]
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