Management Agreements between Cambridge TRS, Inc. and Sonesta International Hotels Corporation for Full Service Hotels
Cambridge TRS, Inc. has entered into six management agreements with Sonesta International Hotels Corporation to operate full service hotels at various locations. Each agreement outlines the management of a specific hotel property, the invested capital amount, and key dates such as the effective date and the date for invested capital calculation. The agreements are substantially identical in all material respects and specify the roles of the owner, landlord, and manager. These contracts ensure Sonesta manages the hotels according to agreed terms, with financial and operational responsibilities clearly defined.
Exhibit 10.1
Schedule to Exhibit 10.1
There are 6 management agreements with Sonesta International Hotels Corporation for full service hotels, a representative form of which is filed as an exhibit to our Current Report on Form 8-K dated April 23, 2012 and which is incorporated herein by reference. The other 5 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.
| Owner |
| Hotel |
| Landlord |
| Date of |
| Effective Date |
| Invested |
| Section 2.02(1) | |
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| Cambridge TRS, Inc. |
| Royal Sonesta Cambridge |
| HPT Cambridge LLC |
| January 31, 2012 |
| January 31, 2012 |
| $ | 120,000,000 |
| January 31, 2015 |
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| Cambridge TRS, Inc. |
| Royal Sonesta Harbor Court Baltimore 550 Light Street Baltimore, MD |
| Harbor Court Associates, LLC
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| May 31, 2012 |
| May 31, 2012
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| $ | 47,296,000 |
| January 31, 2015 |
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| Cambridge TRS, Inc. |
| Sonesta Hotel Philadelphia 1800 Market Street Philadelphia, PA |
| HPT IHG-2 Properties Trust |
| June 18, 2012 |
| June 18, 2012 |
| $ | 32,500,000 |
| January 1, 2015 |
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| Cambridge TRS, Inc. |
| Royal Sonesta Houston Hotel Houston, TX |
| HPT IHG-2 Properties Trust |
| July 16, 2012 |
| July 16, 2012 |
| $ | 70,671,350 |
| January 1, 2016 |
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| Cambridge TRS, Inc. |
| Sonesta Gwinnett Place |
| HPT Cambridge LLC |
| February 26, 2013 |
| The date on which Landlord acquires fee title to the Site and leases it to Owner |
| $ | 31,000,000 |
| January 1, 2017 |
