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. reports news as a lodging real estate investment trust focused on acquiring, actively owning and disposing of well-located hotel and resort real estate. Company updates commonly address portfolio operating metrics such as RevPAR, average daily rate and occupancy, along with Adjusted EBITDAre, Adjusted FFO and net income for its hotel ownership business.
Recurring announcements also cover capital allocation and balance-sheet activity, including common and preferred stock repurchases, dividends and tax treatment of distributions. Other company developments include credit facility amendments, capital recycling commentary, hotel portfolio performance in resort and urban markets, and governance updates involving the board of directors and executive structure.
Sunstone Hotel Investors, Inc. (NYSE: SHO) will report its third quarter 2020 financial results on November 5, 2020, after the market closes. A conference call is scheduled for November 6, 2020 at 12:00 PM ET to discuss these results. Investors can access the live webcast through Sunstone's investor relations website or dial in using 1-323-289-6576 with the confirmation code 1700254. Sunstone specializes in investing in upper upscale hotels within the hospitality sector, primarily operating under recognized brands like Marriott, Hilton, and Hyatt.
Sunstone Hotel Investors (NYSE: SHO) reported a significant net loss of $117.5 million for Q2 2020, down from a net income of $45.9 million in Q2 2019. This loss, partly due to an impairment loss of $18.1 million, resulted in a RevPAR decrease of 98.1%, totaling $3.99. The company's Adjusted EBITDAre was $(47.0 million)
Operations were suspended at 15 out of 20 hotels due to COVID-19, though six resumed in June and July. The company has increased liquidity by approximately $80 million through the sale of the Renaissance Harborplace.
Sunstone Hotel Investors (NYSE: SHO) has announced that it will report its second quarter 2020 financial results on August 4, 2020, prior to market opening. A conference call to discuss these results will occur the same day at 12:00 p.m. ET (9:00 a.m. PT), with a live webcast available through the company’s website. Sunstone, a real estate investment trust focused on the hospitality sector, primarily invests in upper upscale hotels operated by well-known brands like Marriott and Hilton.
Sunstone Hotel Investors (NYSE: SHO) has announced the sale of the 622-room Renaissance Harborplace in Baltimore, Maryland, for $80 million, approximately $129,000 per key. This sale aligns with the Company’s strategy to focus on Long-Term Relevant Real Estate® and enhances its liquidity. CEO John Arabia expressed confidence in the Company's ability to navigate the current market and seize future opportunities. As of this announcement, Sunstone owns interests in 19 hotels totaling 9,988 rooms.