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Stock impact report

SUNSTONE HOTEL INVESTORS REPORTS RESULTS FOR THIRD QUARTER 2024

Sunstone Hotel Investors, Inc. Sunstone Hotel Investors, Inc. Common Shares (SHO) 
Last sunstone hotel investors, inc. sunstone hotel investors, inc. common shares earnings: 2/18 04:15 pm Check Earnings Report
US:NYSE Investor Relations: sunstonehotels.com
Company Research Source: PR Newswire
Refinances Only 2024 MaturityALISO VIEJO, Calif., Nov. 12, 2024 /PRNewswire/ -- Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE: SHO) today announced results for the third quarter ended September 30, 2024.Third Quarter 2024 Operational Results (as compared to Third Quarter 2023):Net Income: Net income was $3.2 million as compared to $15.6 million.Comparable RevPAR: Comparable RevPAR decreased 1.3% to $207.56. The average daily rate was $301.69 and occupancy was 68.8%. Excluding The Confidante Miami Beach as it transitions to Andaz Miami Beach, RevPAR decreased 0.1%. Excluding The Confidante Miami Beach and the Hilton San Diego Bayfront, which was negatively impacted by labor activity in the third quarter of 2024, RevPAR increased 2.4%.Adjusted EBITDAre: Adjusted EBITDAre decreased 15.9% to $53.6 million.Adjusted FFO: Adjusted FFO attributable to common stockholders per diluted share decreased 21.7% to $0.18.Information regarding the non-GAAP financial measures discl Show less Read more
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