Service Properties Trust Enters New 15-Year Management Agreement with Sonesta for 59 Hotels
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Service Properties Trust has entered a 15-year management agreement with Sonesta International Hotels for 59 hotels, effective August 1, 2025. The agreement includes options for two 10-year renewals and requires Service Properties Trust to fund capital expenditures and maintain working capital. It also outlines termination conditions for defaults or performance issues. Sonesta will waive termination fees for hotels designated for sale, as part of Service Properties Trust's strategic realignment of its hotel portfolio.
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