Retirement plan

SONESTA INTERNATIONAL HOTELS CORPORATION AND SUBSIDIARIES 401(K) PLAN

Name: SONESTA INTERNATIONAL HOTELS CORPORATION - SONESTA INTERNATIONAL HOTELS CORPORATION AND SUBSIDIARIES 401(K) PLAN (2024) Form 5500
Creator: SONESTA INTERNATIONAL HOTELS CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SONESTA INTERNATIONAL HOTELS CORPORATION AND SUBSIDIARIES 401(K) PLAN, SONESTA INTERNATIONAL HOTELS CORPORATION

SONESTA INTERNATIONAL HOTELS CORPORATIONEIN 45-3784316Plan #002PY 2024

400 CENTRE STREET - NEWTON, MA 024582094617-421-5400sonesta.comLinkedIn10001+ employeeshospitality

Other plans on this EIN

1 filing

#001Retirement-$23.0M assets

Prospect flagsLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$157.1M

+23.4% from 2023

Total participants

7,446

-4.5% from 2023

Average account balance

$46,849

+14.5% from 2023

Annual return

17.47%

-3.86 pp from 2023

Benchmarks

See 52 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants5,000-9,999

Cohort52 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$157.13M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$47K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

3,354

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

37.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$23.90M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+17.47%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$165

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290	Contract Administrator	$447,465
REGIONS BANK6 years Service code 27 · EIN 63-0371391	Advisory (Plan)	$110,097
PKF O'CONNOR DAVIES, LLP3 years Filed as: PKF O'CONNOR DAVIES LLP Service code 10 · EIN 27-1728945	Accounting	$12,000
MORNINGSTAR3 years Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 · EIN 36-4317381	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$554K

$84 / participant

Investment mgmt$110K19.9%
Contract admin$443K80.1%

% of EOY assets

0.352%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PKF O'CONNOR DAVIES, LLP
Auditor EIN: 271728945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$46,849

$36,728+27.6%

$56,025-16.4%

$99,313-52.8%

Participation rate

37.7%

25.4%+12.3pp

52.5%-14.8pp

71.7%-34.0pp

Annual return

17.47%

14.66%+2.8pp

1712.69%-1695.2pp

17.67%-0.2pp

Employer contribution / active EE

$1,067

$415+157.4%

$1,042+2.4%

$3,264-67.3%

Participant deferral / active EE

$2,571

$1,058+143.0%

$1,955+31.5%

$5,346-51.9%

Admin fee / account holder

$165

$113+45.9%

$2,828-94.2%

$109+51.2%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY10+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$447,465

REGIONS BANK6 years

Service code 27 · EIN 63-0371391

Advisory (Plan)

$110,097

PKF O'CONNOR DAVIES, LLP3 years

Filed as: PKF O'CONNOR DAVIES LLP

Service code 10 · EIN 27-1728945

Accounting

$12,000

MORNINGSTAR3 years

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L

Service code 26 · EIN 36-4317381

Advisory (Participants)

SONESTA INTERNATIONAL HOTELS CORPORATION AND SUBSIDIARIES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SONESTA INTERNATIONAL HOTELS CORPORATION AND SUBSIDIARIES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion