Business
SUNSTONE HOTEL INVESTORS REPORTS RESULTS FOR FIRST QUARTER 2025
Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE: SHO) today announced results for the first quarter ended March 31, 2025.
About this update from Sunstone Hotel Investors, Inc.
[{"type":"text","content":"Opens Andaz Miami Beach After Transformational RenovationCompletes Additional Share Repurchases","length":96,"tagName":"p","attribs":{}},{"type":"text","content":"ALISO VIEJO, Calif., May 6, 2025 /PRNewswire/ -- Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE: SHO) today announced results for the first quarter ended March 31, 2025.","length":209,"tagName":"p"},{"type":"text","content":"First Quarter 2025 Operational Results (as compared to First Quarter 2024):","length":75,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net Income: Net income was $5.3 million as compared to $13.0 million.","length":74,"tagName":"p"}]},{"val":[{"type":"text","content":"Total Portfolio RevPAR: Total Portfolio RevPARan increased 2.2% to $221.63. The average daily rate was $316.16 and occupancy was 70.1%. Excluding Andaz Miami Beach due to its transformational renovation, RevPAR increased 3.8%.","length":231,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted EBITDAre: Adjusted EBITDAre increased 5.0% to $57.3 million.","length":74,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted FFO: Adjusted FFO attributable to common stockholders per diluted share increased 16.7% to $0.21.","length":111,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":490,"olType":false},{"type":"text","content":"Information regarding the non-GAAP financial measures disclosed in this release is provided below in "Non-GAAP Financial Measures." Reconciliations of non-GAAP financial measures to the most comparable GAAP measure for each of the periods presented are included later in this release.","length":294,"tagName":"p"},{"type":"text","content":"Bryan A. Giglia, Chief Executive Officer, stated, "Despite the elevated uncertainty that has crept into the operating environment since the start of the year, our premium portfolio delivered first quarter earnings that were slightly ahead of expectations even on softer revenue growth. As the demand environment evolves, we are working with our operators to book new business and drive total revenue growth while focusing on costs. Our solid balance sheet and recently completed capital investments support the continued return of capital to our shareholders and position Sunstone to be opportunistic and successfull...