BOSTON, Feb. 18, 2010 (GLOBE NEWSWIRE) -- Sonesta International Hotels Corporation (Nasdaq:SNSTA) reported today that it has refinanced the mortgage loan on its Royal Sonesta Hotel Boston. A $32 Million loan from RBS Citizens National Association replaced a loan of approximately the same amount that was due to mature in July 2010.
The 6.4% fixed interest rate on the RBS Citizens loan will result in approximately $700,000 per year in interest savings for the Company. The new loan will mature in March 2015.
For over 60 years, Sonesta has owned, managed, designed, built and marketed hotels throughout the world. There are presently 31 Sonesta hotels and resorts, including 6 Nile cruise ships. The Sonesta Collection is located in Boston, Miami, New Orleans, Orlando, St. Maarten, Brazil, Chile, Colombia, Peru, and Egypt. Sonesta's stock is traded on the NASDAQ Global stock market under the symbol SNSTA.
The Sonesta International Hotels Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7017