Hyatt considers SVC termination

Sonesta

Service Properties Trust has received a notice of termination from Hyatt with respect to the management agreement for 22 Hyatt Place hotels owned by subsidiaries of SVC.

All or some of the hotels may stay under Hyatt brands, but may also move to Sonesta, the brand in which SVC has a 34% stake.

Last year saw Sonesta add a number of hotels from both Marriott International and InterContinental Hotels Group.

Hyatt’s obligations under the management agreement, which requires minimum returns of $

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