Management Agreements between Cambridge TRS, Inc. and Sonesta International Hotels Corporation for Multiple Hotels
Cambridge TRS, Inc. has entered into 15 management agreements with Sonesta International Hotels Corporation to operate various Sonesta ES Suites and a Sonesta hotel at different locations across the United States. The agreements, which are substantially identical, outline Sonesta's responsibilities for managing the hotels owned by Cambridge TRS, Inc., with HPT IHG-2 Properties Trust or HPTMI Properties Trust as landlords. Each agreement specifies the effective date, invested capital amount, and other key terms. These contracts ensure professional hotel management and set financial and operational expectations for all parties involved.
Exhibit 10.3
Schedule to Exhibit 10.3
There are 15 management agreements with Sonesta International Hotels Corporation for limited service hotels, a representative form of which is filed herewith. The other 14 management agreements, with the respective parties and applicable to the respective hotels listed below, are substantially identical in all material respects to the representative form of management agreement filed herewith.
Owner |
| Hotel |
| Landlord |
| Date of |
| Effective Date |
| Invested |
| Section 2.02(1) | ||
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Cambridge TRS, Inc. |
| Sonesta ES Suites Burlington 11 Old Concord Road Burlington, MA |
| HPT IHG-2 Properties Trust |
| June 12, 2012 |
| June 12, 2012 |
| $ | 18,240,000 |
| January 31, 2015 | |
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Cambridge TRS, Inc. |
| Sonesta ES Suites Orlando |
| HPT IHG-2 Properties Trust |
| July 6, 2012 |
| July 9, 2012 |
| $ | 7,900,000 |
| January 31, 2015 | |
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Cambridge TRS, Inc. |
| Sonesta ES Suites Andover |
| HPT IHG-2 Properties Trust |
| July 25, 2012 |
| July 25, 2012 |
| $ | 17,100,000 |
| January 31, 2016 | |
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Cambridge TRS, Inc. |
| Sonesta ES Suites Parsippany |
| HPT IHG-2 Properties Trust |
| July 30, 2012 |
| July 30, 2012 |
| $ | 22,312,500 |
| January 1, 2016 | |
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Cambridge TRS, Inc. |
| Sonesta ES Suites Somerset |
| HPT IHG-2 Properties Trust |
| July 30, 2012 |
| August 1, 2012 |
| $ | 7,200,000 |
| January 1, 2016 | |
Owner |
| Hotel |
| Landlord |
| Date of |
| Effective Date |
| Invested |
| Section 2.02(1) | |
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Cambridge TRS, Inc. |
| Sonesta ES Suites Princeton |
| HPT IHG-2 Properties Trust |
| July 30, 2012 |
| August 3, 2012 |
| $ | 5,810,000 |
| January 1, 2016 |
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Cambridge TRS, Inc. |
| Sonesta ES Suites Malvern |
| HPT IHG-2 Properties Trust |
| July 27, 2012 |
| August 6, 2012 |
| $ | 17,398,113 |
| January 1, 2016 |
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Cambridge TRS, Inc. |
| Sonesta ES Suites Dublin |
| HPTMI Properties Trust |
| August 6, 2012 |
| August 11, 2012 |
| $ | 6,750,000 |
| January 1, 2016 |
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Cambridge TRS, Inc. |
| Sonesta ES Suites Flagstaff |
| HPTMI Properties Trust |
| August 6, 2012 |
| August 11, 2012 |
| $ | 5,625,000 |
| January 1, 2016 |
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Cambridge TRS, Inc. |
| Sonesta ES Suites Houston Houston, TX |
| HPT IHG-2 Properties Trust |
| August 6, 2012 |
| August 13, 2012 |
| $ | 10,260,000 |
| January 1, 2016 |
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Cambridge TRS, Inc. |
| Sonesta ES Suites Columbia |
| HPT IHG-2 Properties Trust |
| August 6, 2012 |
| August 14, 2012 |
| $ | 12,540,000 |
| January 1, 2016 |
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Cambridge TRS, Inc. |
| Sonesta ES Suites Charlotte |
| HPT IHG-2 Properties Trust |
| August 6, 2012 |
| August 16, 2012 |
| $ | 6,810,000 |
| January 1, 2016 |
Owner |
| Hotel |
| Landlord |
| Date of |
| Effective Date |
| Invested |
| Section 2.02(1) | |
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Cambridge TRS, Inc. |
| Sonesta ES Suites St. Louis |
| HPT IHG-2 Properties Trust |
| August 6, 2012 |
| August 22, 2012 |
| $ | 3,780,000 |
| January 1, 2016 |
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Cambridge TRS, Inc. |
| Sonesta Fort Lauderdale |
| HPT IHG-2 Properties Trust |
| May 30, 2014 |
| May 30, 2014 |
| $ | 65,000,000 |
| January 1, 2018 |