Sonesta Lays Off Employees Amid Potential $2 Billion Acquisition Offer for Service Properties Trust's Hotel Portfolio
📈 Sonesta began layoffs last Friday, impacting various departments. The cuts follow TKO's $2 billion cash offer for Service Properties Trust's hotel portfolio, which includes 68 Sonesta hotels with 17,013 rooms, or 17% of Sonesta's 100,000-room system. The trust valued these hotels at $3.98 billion in Q2 filings. The chief brand officer and marketing staff have recently departed. Sonesta did not disclose the number of affected employees.
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