Originally Posted by
AmericanCasey
I thought that the switch to Sonesta was because of lending problems. In Charlotte, the Crowne Plaza in the Executive Park area was nice. When it was a Marriott, it had deteriorated badly, but was redone when it became a Crowne Plaza. I haven't been since it became a Sonesta, but do consider it a loss.
The management contract with SVC, a property REIT that owned the hotels flagged with Hyatt, Hilton, Marriott, and IHG, required a "deposit" and a guaranteed return, and the "deposit" wasn't being replenished by the management company, so SVC took many properties out of those programs and since they have a substantial stake in Sonesta, flagged them there. Though they didn't do all of them, especially the Hyatt's (mainly HP's)as Sonesta is a really dead, boring, program.