Equinox Hospitality has acquired four properties in Texas from Sonesta International Hotels. Equinox Hotel Management, a subsidiary of Equinox Hospitality, will operate the properties.
“Our growth strategy is to source and execute top-quality deals in high-growth markets and with top-tier joint venture partners that share the same values as us,” said Adam Suleman, principal and EVP of Equinox Hospitality, in a statement. “This approach should keep us on a track to grow our portfolio with strong performing assets while continuing to build on our longstanding industry reputation and legacy as a family-owned business. Acquisitions such as this one are perfect examples of our strategy in action.”
With a total of 463 keys, the four properties—Sonesta ES Suites Dallas Richardson, Sonesta Select Dallas Richardson, Sonesta Simply Suites Dallas Richardson and Sonesta Simply Suites Fort Worth Fossil Creek—are located in the Dallas-Fort Worth metroplex, one of the fastest growing economies in the U.S.
Now the eighth largest hotel company in the U.S., Sonesta has $3 billion in assets under management, 283 managed destinations, 1,200 properties, 100,000 guest rooms, 10,000 associates, and 15 brands in seven countries on three continents.
“Our principal commitment is establishing strong relationships and increasing engagement among franchise groups,” said Keith Pierce, EVP and president of franchise and development at Sonesta. “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.”