Sonesta to acquire RLH

Sonesta

Sonesta International has agreed to acquire RLH Corporation, in an all-cash deal valued at $90m, creating a company with more than 1,200 hotels.

The transaction came after a busy year for Sonesta, which saw a number of hotels owned by 34% shareholder Service Properties Trust take on its brands.

Holders of RLH’s common stock will receive $3.50 per share in cash, representing an 88% premium over the 4 November, closing share price, the last trading date before Red Lion most recently provided a

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