Welcome to our dedicated page for Sunstone Hotel Inv news (Ticker: SHO), a resource for investors and traders seeking the latest updates and insights on Sunstone Hotel Inv stock.
Sunstone Hotel Investors Inc. (NYSE: SHO) is a leading lodging real estate investment trust specializing in premium urban and resort hotels. This page provides investors with official press releases, financial disclosures, and strategic updates directly from the company.
Access timely announcements covering earnings reports, property acquisitions, renovation progress, and leadership developments. Our curated collection ensures you stay informed about SHO's capital recycling strategy, brand partnerships with operators like Marriott and Hyatt, and market expansion efforts.
Key updates include quarterly performance metrics, dividend declarations, sustainability initiatives, and portfolio optimization moves. Bookmark this page for verified information on SHO's luxury hotel operations across California, Florida, Hawaii, and other high-demand markets.
Sunstone Hotel Investors (NYSE: SHO) reported Q2 2024 results with net income of $26.1 million, down from $43.1 million in Q2 2023. Comparable RevPAR decreased 2.0% to $232.59, with average daily rate at $322.60 and occupancy at 72.1%. Excluding The Confidante Miami Beach, RevPAR increased 0.4%. Adjusted EBITDAre decreased 13.6% to $73.5 million, while Adjusted FFO per diluted share decreased 15.2% to $0.28.
The company updated its full-year 2024 guidance, reflecting a slower recovery in Maui and the completion of renovation work at Marriott Long Beach Downtown. Sunstone now expects total portfolio RevPAR growth between -0.25% to +1.75%, Adjusted EBITDAre of $242 to $252 million, and Adjusted FFO per diluted share of $0.85 to $0.90.
Sunstone Hotel Investors (NYSE: SHO) announced it will release its Q2 2024 financial results on August 7, 2024, before the market opens. The company will also hold a conference call the same day at 12:00 p.m. Eastern Time (9:00 a.m. Pacific Time) to discuss the results. Investors can access the live webcast through Sunstone's Investor Relations website or by dialing 1-800-715-9871 with Conference ID 1026321. A transcript of the call will be archived on the website. Sunstone Hotel Investors focuses on creating long-term stakeholder value through the acquisition, ownership, and sale of hotel and resort properties.
Sunstone Hotel Investors, Inc. reported results for the first quarter of 2024, announcing an increase in quarterly dividend and the acquisition of the Hyatt Regency San Antonio Riverwalk. Despite a challenging quarterly comparison to 2023, the company remains optimistic about the performance for the rest of the year. The company's balanced approach to capital allocation is expected to drive significant growth. However, the first quarter results showed a decrease in net income, comparable RevPAR, Adjusted EBITDAre, and Adjusted FFO attributable to common stockholders per diluted share.
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