HPT affiliate to buy Sonesta

6th November 2011 (Last Updated November 6th, 2011 18:30)

An affiliate of Hospitality Properties Trust (HPT) is to acquire Sonesta International hotels for $115m.

An affiliate of Hospitality Properties Trust (HPT) is to acquire Sonesta International hotels for $115m.

Including assumed debt and other liabilities, the total purchase price is $174m and the deal will close in the first quarter of 2012.

HPT recently announced the acquisition of Royal Sonesta hotels in Cambridge, Massachusetts and New Orleans from Sonesta for $150.5m, according to the Wall Street Journal.

Sonesta Acquisition, an affiliate of Hospitality, will be capitalised independently with $25m before the acquisition closes, and will later transfer the Cambridge hotel and lease the New Orleans hotel to Hospitality.