Sunstone Hotel Investors, Inc.
SHO-PH
New York Stock Exchange21.82
USD
-0.18
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Sunstone Hotel Investors, Inc.
SHO-PH
(New York Stock Exchange)
Recent
price
21.82
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Sunstone Hotel Investors, Inc. (NYSE: SHO; SHO-PH) is a lodging real estate investment trust (REIT) that acquires, owns, repositions, and selectively disposes of upper upscale and luxury hotels in gateway convention, resort destination, and urban markets across the United States. The company owns approximately 15 hotels comprising 7,253 rooms, with properties including Hilton San Diego Bayfront; Hyatt Regency San Francisco; The Westin Washington, DC Downtown; Renaissance Orlando at SeaWorld; Wailea Beach Resort - Marriott, Maui; JW Marriott New Orleans; Marriott Long Beach Downtown; Andaz Miami Beach; The Bidwell Marriott Portland; Montage Healdsburg; Oceans Edge Resort & Marina; and others, primarily operated under nationally recognized brands such as Marriott, Hyatt, Hilton, Four Seasons, and Montage through long-term third-party management agreements. Its portfolio targets diverse demand generators including group conventions, transient business, leisure tourism, and technology sectors, with geographic focus in key U.S. markets like California, Florida, Hawaii, Louisiana, Texas, and Washington, D.C. Founded in 1985 and headquartered in Aliso Viejo, California, Sunstone employs a lifecycle investment approach emphasizing value creation through strategic acquisitions, capital improvements, asset management, and opportunistic sales to deliver superior risk-adjusted returns and per-share NAV growth for shareholders. In recent developments, Sunstone acquired the 630-room Hyatt Regency San Antonio Riverwalk in late April 2024 for a gross purchase price of $230 million from an affiliate of Hyatt Hotels Corporation, inclusive of nearly two acres of riverfront land and a 516-space parking garage; the property, recently renovated for $37 million, continues under Hyatt Regency branding with management by Hyatt and contributes enhanced geographic diversification, year-round demand balance, and projected 2024 hotel EBITDA of $12 million to $13 million. The company completed brand conversions at The Westin Washington, DC Downtown and Marriott Long Beach Downtown, alongside transformative investments at Andaz Miami Beach nearing completion by year-end 2024 to drive earnings growth into 2025; additionally, Sunstone sold the Boston Park Plaza in October 2023 for $370 million and divested the Hilton New Orleans St. Charles in 2025, recycling proceeds into accretive opportunities like the San Antonio acquisition while maintaining strong liquidity for further portfolio expansion.