BOSTON, June 1, 2009 (GLOBE NEWSWIRE) -- Sonesta International Hotels Corporation (Nasdaq:SNSTA) announced today the launch of its U.S. franchise program. The Company, which has licensed properties internationally for over 30 years, has just issued the Sonesta Franchise Disclosure Document (FDD) required to franchise domestically and is applying for registration of the franchise offering in the franchise registration states.
"We are very enthusiastic about bringing the Sonesta brand into the upscale/upper- upscale domestic franchise market," said Philip Silberstein, Sonesta's executive vice president of development. "Sonesta's 40 years of experience and recognition as a top-tier brand, coupled with our proven market awareness and superior RevPAR performance, will provide hotel owners seeking market share premiums and upscale brand affiliation with an exciting new option."
Sonesta takes great pride in delivering superior results. In 2008, Sonesta achieved an average RevPAR of $129.42 for their U.S. hotels, with an average RevPAR Index of 111.4%. Additionally, the Sonesta system contributed an average of 45.5% of room revenue to its U.S. hotels. Sonesta plans on jump-starting its U.S. franchise development efforts by offering an array of benefits not widely available to up market franchisees.
"We believe that we have a franchise program that will really resonate in the marketplace," Silberstein continued. "For example: our standard franchise agreement has a franchisee termination right with no termination fees; and Sonesta capital contributions in the form of key money that may be available to prospective franchisees who qualify."
Sonesta will continue to be defined as a brand focused on the overall guest experience and whose unique high quality hotels and resorts reflect the environment where they are located. Silberstein added, "The Sonesta domestic franchise program will appeal to distinctive independent hotels that would benefit from an upscale/upper-upscale brand affiliation, yet want to retain their unique identities. After all, Sonesta is a collection of unique hotels."
For over 60 years, Sonesta has owned, managed, designed, built, marketed and licensed hotels throughout the world. There are presently 27 Sonesta hotels and resorts, including 6 Nile cruise ships. The Sonesta Collection can be found in Boston, Miami, New Orleans, St. Maarten, Brazil, Colombia, Peru and Egypt. New properties are under development in Chile, Costa Rica, Peru, Mexico and Miami, FL. Sonesta's stock is traded on the NASDAQ Global stock market under the symbol SNSTA. For more information visit www.Sonesta.com.