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Sonesta Cuts Jobs Following $2B Takeover Bid
FeaturedfinanceSkift··1 min·For: Owner, Investor, Ops, Marketing

Sonesta Cuts Jobs Following $2B Takeover Bid

Sonesta has initiated corporate layoffs across multiple departments following a $2 billion cash buyout offer for key hotel assets owned by Service Properties Trust. The cuts impact corporate roles including marketing, operations, and loyalty, amid uncertainty over 17% of the brand's room footprint.

Key Takeaways

  1. 1Layoffs span marketing, loyalty, training, F&B, quality assurance, and accounting.
  2. 2TKO offered $2 billion for Service Properties Trust's portfolio, including 68 Sonesta hotels.
  3. 3The targeted hotels represent 17,013 rooms, roughly 17% of Sonesta's total system footprint.

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Source: Skift

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