Thursday, September 3, 2009

Sonesta Announces Contract to Sell Key Biscayne Property

BOSTON, Sept. 2, 2009 (GLOBE NEWSWIRE) -- Sonesta International Hotels Corporation (Nasdaq:SNSTA - News) (the "Company") announced today that SBR-Fortune Associates LLLP (the "Partnership"), the partnership in which its wholly-owned subsidiary is a 50% limited partner, has entered into a contract to sell the land and improvements formerly comprising Sonesta Beach Resort, in Key Biscayne, Florida (the "Property"), for a price of $78 million. The buyer is a real estate developer based in Argentina

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