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Old Sep 28, 2021 | 3:49 pm
  #34  
The Road Goes On Forever
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Originally Posted by WasKnown
Regardless, even this incorrect understanding of a free market applies to this industry. The data provided already shows there are plenty of players entering the market and growing rapidly. Sonesta took hundreds of properties from Marriott and IHG within the past 12 months: https://www.hospitalitynet.org/news/4101911.html https://www.svcreit.com/news/press-r...a/default.aspx
Anaecdotally, Marriott was probably more than fine with Sonesta taking those properties. The bulk of what they got from Marriott were 20-25+ year old CY & RI location (1 of which I worked at and a few of which I stayed at over the years) which were tired, the ones I know of were poorly kept up with and needed a lot of money put into them even though quite a few were corporatley managed. No great loss for Marriott and perfect for Sonesta who is known for comparitevely bottom feeding.
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