Sonesta CEO: Bookings Are ‘Still Strong’ as it Aims to Sell 114 Hotels
Photo Credit: Exterior of Sonesta Los Angeles Airport LAX at dusk. Sonesta International
Skift Take
Sonesta wants to be in the business of licensing hotel brands rather than owning hotel buildings, just like its larger, asset-light competitors.
Sonesta International Hotels, the eighth-largest hotel group in the U.S. by number of units, is orchestrating the sale of 114 properties in a pivot to a franchise model.
CEO John Murray doesn't anticipate problems selling the hotels despite recent economic uncertainty for two reasons: Buyers' inquiries have been plentiful and reservation demand is "still strong."
Skift asked Murray if Sonesta had seen any weakness in demand, given that U.S. consumer confidence dropped sharply in February.
"Booking signals are mixed, but Sonesta hasn't changed its internal outlook or plans despite uncertainty in the market," Murray said. "Things are still strong."
Sonesta continues to see strength in its East Coast gateway markets, such as New York City.
The booking pace in March "isn't reversing." Sonesta remains confident with strong and growing group bookings, a continued good pace in business transient boo
