San Francisco-based hotel investment, management, acquisition and development company Equinox Hospitality has purchased four hotels from Newton, Massachusetts-based Sonesta International Hotels Corporation.
The hotels — Sonesta ES Suites Dallas Richardson, Sonesta Select Dallas Richardson, Sonesta Simply Suites Dallas Richardson and Sonesta Simply Suites Fort Worth Fossil Creek — total 463 rooms, according to a release announcing the deal. Each property is located in the Dallas-Fort Worth metroplex. Prior to joining Sonesta, the properties were branded under the Residence Inn by Marriott, Courtyard by Marriott and Candlewood Suites brands, according to CoStar data.
The price of the deal was not disclosed.
Adam Suleman, principal and executive vice president of Equinox Hospitality, said in the news release that this deal reflects his company's growth strategy of sourcing and executing "top-quality deals in high-growth markets and with top-tier joint venture partners that share the same values as us."
Suleman added that this growth approach should keep Equinox on track to expand its portfolio with "strong performing assets."
Keith Pierce, executive vice president and president of franchise and development at Sonesta, said in the release that Sonesta's principal commitment is forming strong relationships with franchise groups and Equinox is the right fit.
“Being one of the premier hotel investment, management, acquisition and development companies in the U.S., Equinox Hospitality has everything we are looking for in a franchisee and can assist us with furthering our commitment. We are thrilled to have welcomed Equinox Hospitality and Adam to the growing Sonesta family," he said in the release.
Sonesta currently has $3 billion in assets under management and 15 brands in seven countries on three continents.