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Bankruptcy Watch: 9 Risky Hotel Stocks


Sonesta International Hotels (SNSTA)

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Altman Z-Score, Trailing 12 Months: 2.23

Altman Z-Score, Last Fiscal Year: 2.23

Sonesta International Hotels (SNSTA)

Sonesta International's Z-Score held steady at a reading of 2.23 in the trailing 12 months compared with the last fiscal year, putting its rank squarely in the gray area of safety.

Sonesta owns hotels in Boston, and leases properties in New Orleans, La. It also operates hotels in Southern Florida and tourist destinations in Egypt, and it has franchise agreements for hotels in St. Maarten, Brazil, Chile, Colombia, Peru and Ecuador.

Sonesta's first-quarter loss widened more than 60% year-over-year to $2 million, or 53 cents loss per share, while revenue jumped 22.3% to $18.1 million.

"The first quarter is traditionally a slow period in Boston, and we used that time to renovate the Hotel's 200 East Tower guestrooms. This negatively impacted revenues throughout the first quarter," the company said. Renovations at its Coconut Grove, Fla. property also hurt traffic in the "important winter season," Sonesta said.

Additionally, "in Egypt, the unprecedented political events which began at the end of January substantially affected business in the Company's seven hotels and six cruise vessels. While all of the hotels and some of the cruise vessels remain in operation, fee income from Egypt during 2011 will be negatively impacted and payment of fees and loan repayments will be delayed."

Even so, revenue at Sonesta's Boston, New Orleans and Coconut Grove properties improved year-over-year, while total operating losses grew by $700,000 to $1.9 million.


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