ALISO VIEJO, Calif., June 24, 2024 /PRNewswire/ -- Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE: SHO) announced that it will report financial results for the second quarter 2024 on Wednesday, August 7, 2024, before the market opens. Management will hold its quarterly conference call the same day, at 12:00 p.m. Eastern Time (9:00 a.m. Pacific Time). A live webcast of the call will be available through the Investor Relations section of the Company's website at www.sunstonehotels.com. A t ...

Art Wager/iStock Unreleased via Getty Images Introduction As I have dedicated a portion of my investment portfolio to fixed income, I am still looking for additional exposure to preferred equity. As the interest rates on the financial markets will move down, the price of fixed rate preferred shares will go up (assuming the creditworthiness of the issuer remains unchanged). I sold my preferred shares in Sunstone Hotel Investors, Inc. (NYSE:SHO) a few months ago on a temporary price spike, but I am wondering ...

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Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-32319 Sunstone Hotel Investors, Inc. (Exact Name of Registrant as Specified in Its Charter) Maryland 20-1296886 (State or ...

Sunstone Hotel Investors, Inc. (NYSE:SHO) Q1 2024 Earnings Conference Call May 6, 2024 12:00 PM ET Company Participants Aaron Reyes - CFO Bryan Giglia - CEO Robert Springer - President and Chief Investment Officer Conference Call Participants Duane Pfennigwerth - Evercore ISI Smedes Rose - Citi Michael Bellisario - Baird Dany Asad - Bank of America Floris Van Dijkum - Compass Point Chris Darling - Green Street Operator Good morning, ladies and gentlemen and thanks for standing by. Welcome to the Sunstone Ho ...

Exhibit 99.2 Supplemental Financial Information For the quarter ended March 31, 2024 May 6, 2024 Supplemental Financial Information May 6, 2024 Table of Contents | Corporate Profile And Disclosures Regarding Non-GAAP Financial Measures | 2 | | --- | --- | | Comparable Corporate Financial Information | 6 | | Capitalization | 12 | | Property-Level Data And Operating Statistics | 15 | | Property-Level Revenues, Adjusted EBITDAre & Adjusted EBITDAre Margins | 19 | Supplemental Financial Information May 6, 2024 ...

Sunstone Hotel Investors, Inc. (NYSE:SHO) Q4 2023 Earnings Conference Call February 23, 2024 1:00 PM ET Company Participants Aaron Reyes - CFO Bryan Giglia - CEO Robert Springer - President and Chief Investment Officer Conference Call Participants Chris Darling - Green Street Duane Pfennigwerth - Evercore ISI Smedes Rose - Citi Chris Woronka - Deutsche Bank Floris Van Dijkum - Compass Point Operator Good morning, ladies and gentlemen, thanks for standing by. Welcome to the Sunstone Hotel Investors Fourth Qu ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 For the transition period from to Commission file number 001-32319 Sunstone Hotel Investors, Inc. (Exact Name of Registrant as Specified in Its Charter) Maryland 20-1296886 (State or Other Jurisdiction of (I.R.S. Employer Incorporation or Organization) Identification Number) 15 En ...

Corporate Profile And Disclosures Regarding Non-GAAP Financial Measures 2 Property-Level Data And Operating Statistics 22 Supplemental Financial Information February 23, 2024 Supplemental Financial Information February 23, 2024 CORPORATE PROFILE AND DISCLOSURES REGARDING NON-GAAP FINANCIAL MEASURES Page 2 About Sunstone This presentation contains unaudited information and should be read together with the consolidated financial statements and notes thereto included in our most recent reports on Form 10-K and ...

Financial Performance - Total revenues for Q4 2023 were $208.094 million, a decrease from $213.661 million in Q3 2023, and total revenues for FY 2023 reached $889.712 million[26] - Comparable Hotel Adjusted EBITDAre for Q4 2023 was $49.855 million, down from $54.009 million in Q3 2023, while FY 2023 total was $244.732 million[26] - Net income for Q4 2023 was $1.399 million, compared to $6.658 million in Q3 2023, with FY 2023 net income totaling $57.326 million[26] - Comparable Adjusted FFO attributable to common stockholders for Q4 2023 was $33.532 million, consistent with $33.424 million in Q3 2023, and FY 2023 total was $164.489 million[26] - Room revenues for Q4 2023 were $127.038 million, a decline from $134.428 million in Q3 2023, while total room revenues for FY 2023 were $552.646 million[26] - Food and beverage revenues for Q4 2023 increased to $61.284 million from $56.835 million in Q3 2023, contributing to a total of $254.250 million for FY 2023[26] - Total operating expenses for Q4 2023 were $194.927 million, slightly down from $195.725 million in Q3 2023, with FY 2023 total operating expenses at $790.342 million[26] - Interest expense for Q4 2023 was $16.768 million, up from $11.894 million in Q3 2023, with total interest expense for FY 2023 amounting to $51.679 million[26] Year-over-Year Comparisons - Total revenues for the year ended December 31, 2022, were $836,700,000, with a quarterly revenue of $217,329,000 for Q4 2022[28] - Net income for Q4 2022 was $14,045,000, a decrease from $15,786,000 in Q3 2022, while the annual net income was $70,933,000[28] - Comparable Adjusted EBITDAre for Q4 2022 was $60,995,000, compared to $54,762,000 in Q3 2022, indicating a 23% increase[28] - Comparable Adjusted FFO attributable to common stockholders for Q4 2022 was $45,951,000, up from $42,178,000 in Q3 2022[28] - The company reported a total operating expense of $191,558,000 for Q4 2022, slightly higher than $190,027,000 in Q3 2022[28] - Interest expense for Q4 2022 was $11,717,000, increasing from $9,269,000 in Q3 2022[28] - The company reported a gain on the sale of assets of $123,820 thousand for FY 2023[34] - The total operating expenses for the year ended December 31, 2022, were $737,748,000, reflecting a significant operational scale[28] Shareholder Returns and Equity - Total equity transactions in 2023 included repurchases totaling 2.0 million shares in Q1, 0.3 million in Q2, 1.6 million in Q3, and 2.1 million in Q4[35] - The common share price at the end of Q4 2023 was $10.73, up from $9.35 in Q3 2023, representing a 14.8% increase[47] - The market value of common equity increased to $2,183,336 thousand in Q4 2023 from $1,922,578 thousand in Q3 2023, a growth of 13.6%[47] - The company declared a common dividend of $0.13 per share in Q4 2023, an increase from $0.07 in Q3 2023[47] Debt and Capitalization - Total debt remained relatively stable at $819,050 thousand in Q4 2023 compared to $819,582 thousand in Q3 2023, showing a slight decrease of 0.1%[50] - The total debt to total capitalization ratio improved to 24.9% in Q4 2023 from 27.1% in Q3 2023, indicating a stronger capital structure[47] - The average interest rate on total debt was 5.80% as of December 31, 2023, with 51.2% of the debt being fixed rate[50] - The company achieved a weighted average maturity of debt of 3.0 years, up from 2.8 years due to the extension of certain loans[50] Operational Highlights - The company owns 14 hotels with a total of 6,675 rooms as of February 23, 2024, focusing on long-term stakeholder value through strategic acquisitions and active ownership[7] - Future outlook includes continued focus on market expansion and potential acquisitions to enhance portfolio performance and stakeholder value[7] - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[32] - Future guidance indicates a focus on increasing comparable hotel adjusted EBITDAre through strategic acquisitions and operational improvements[32] Hotel Performance Metrics - For the year ended December 31, 2023, the Average Daily Rate (ADR) for Hilton San Diego Bayfront increased by 1.9% to $275.56 compared to $270.47 in 2022[64] - The occupancy rate for Hyatt Regency San Francisco improved to 69.6% in 2023, up from 58.5% in 2022, representing an increase of 1,110 basis points[64] - The Revenue Per Available Room (RevPAR) for the Comparable Portfolio, excluding Renovation Hotels, decreased by 1.0% to $324.58 in 2023 compared to $327.97 in 2022[64] - The ADR for the Four Seasons Resort Napa Valley decreased by 14.9% to $1,512.81 in 2023 from $1,778.25 in 2022[64] - The total RevPAR (TRevPAR) for the 11 Hotel Portfolio increased by 0.8% to $303.48 in 2023 compared to $301.18 in 2022[65] - The occupancy rate for Wailea Beach Resort decreased to 75.6% in 2023, down from 79.2% in 2022, a decline of 360 basis points[64] - The ADR for JW Marriott New Orleans increased by 0.8% to $240.59 in 2023 compared to $238.68 in 2022[64] - The RevPAR for Marriott Boston Long Wharf increased by 11.8% to $280.33 in 2023 from $250.67 in 2022[64] - The occupancy rate for Oceans Edge Resort & Marina was 76.6% in 2023, an increase of 270 basis points from 73.9% in 2022[64] - The ADR for Montage Healdsburg decreased by 3.5% to $1,065.10 in 2023 compared to $1,103.21 in 2022[64] Specific Hotel Performance - For Q4 2023, Hilton San Diego Bayfront reported total revenues of $41.36 million, with an Adjusted EBITDA of $11.48 million and a margin of 27.8%, down 170 bps from 2022[71] - The Westin Washington, DC Downtown experienced a significant revenue increase of 52.6% year-over-year, reaching $20.04 million in Q4 2023, with an Adjusted EBITDA margin of 18.1%[71] - The Comparable Portfolio, Excluding Renovation Hotel generated revenues of $203.35 million in Q4 2023, with an Adjusted EBITDA of $50.08 million, reflecting a margin of 24.6%[71] - The Confidante Miami Beach reported a revenue decline of 52.7% in Q4 2023, with total revenues of $4.75 million and an Adjusted EBITDA margin of -4.6%[71] - The total revenues for the Actual Portfolio in Q4 2023 were $219.23 million, with an Adjusted EBITDA of $55.28 million, resulting in a margin of 25.2%[71] - Hyatt Regency San Francisco saw a revenue increase of 9.6% year-over-year, totaling $23.12 million in Q4 2023, with an Adjusted EBITDA margin of 12.1%[71] - The Bidwell Marriott Portland achieved a revenue increase of 12.4% year-over-year, reaching $2.66 million in Q4 2023, with an Adjusted EBITDA margin of 10.7%[71] - Four Seasons Resort Napa Valley reported a revenue decrease of 15.6% in Q4 2023, totaling $9.50 million, with an Adjusted EBITDA margin of -5.0%[71] - The total revenue for the Comparable Portfolio in Q4 2023 was $208.09 million, with an Adjusted EBITDA of $49.86 million, reflecting a margin of 24.0%[71] - The overall Adjusted EBITDA margin for the Actual Portfolio decreased by 120 bps compared to the previous year, indicating a slight decline in profitability[71] Renovation and Asset Management - Hotel Adjusted EBITDAre for Q4 2023 is affected by renovation activities at The Confidante Miami Beach, impacting overall performance[1] - The Confidante Miami Beach is undergoing a transformational renovation in preparation for its conversion to Andaz Miami Beach[1] - The Comparable Portfolio excludes The Confidante Miami Beach due to its renovation activity during Q4 2023[1] - Sold Hotels include the Boston Park Plaza, which was sold in October 2023, affecting year-over-year comparisons[1] - The Actual Portfolio includes results for 15 hotels owned during Q4 and full year 2023, compared to 15 and 18 hotels in 2022[1] - The 11 Hotel Portfolio excludes Montage Healdsburg and Four Seasons Resort Napa Valley, which were newly developed and not open in 2019[1] - Prior Ownership results for The Confidante Miami Beach are included for analysis prior to its acquisition in June 2022[1]