Sunstone Earnings Reports

Sunstone Hotel Investors reported Q4 2024 net income of $0.8 million, significantly down from $127.0 million in Q4 2023. Revenue declined slightly to $214.77 million, while adjusted EBITDAre decreased 12% to $48.1 million. Adjusted FFO per diluted share fell 15.8% to $0.16, reflecting weaker industry fundamentals and operational challenges.

Sunstone Hotel Investors reported a net income of $3.2 million and an adjusted EBITDAre of $53.6 million for Q3 2024. Comparable RevPAR decreased by 1.3%, but when excluding The Confidante Miami Beach and Hilton San Diego Bayfront, RevPAR increased by 2.4%.

Sunstone Hotel Investors reported a net income of $26.1 million for the second quarter of 2024, compared to $43.1 million in the same period of 2023. Comparable RevPAR decreased by 2.0% to $232.59. Adjusted EBITDAre decreased by 13.6% to $73.5 million. The company is focused on positioning for outsized growth in 2025 and beyond, with renovations and rebranding underway.

Sunstone Hotel Investors reported a decrease in net income and RevPAR for the first quarter of 2024 compared to the same period in 2023. Net income was $13.0 million, down from $21.1 million, and comparable RevPAR decreased by 5.1% to $223.06. The company acquired the Hyatt Regency San Antonio Riverwalk and increased the quarterly cash dividend.

Sunstone Hotel Investors reported a net income of $127.0 million for the fourth quarter of 2023, compared to $17.5 million in the same period of 2022. Comparable RevPAR decreased by 2.2% to $206.58. Adjusted EBITDAre decreased by 20.5% to $54.6 million, and adjusted FFO per diluted share decreased by 26.9% to $0.19.

Sunstone Hotel Investors reported a net income of $15.6 million for Q3 2023, with comparable RevPAR at $222.54. Adjusted EBITDAre decreased slightly to $63.7 million, and adjusted FFO per diluted share was $0.23. The company also sold Boston Park Plaza for $370 million and reinvested in The Westin Washington, DC Downtown.

Sunstone Hotel Investors reported a net income of $43.1 million for the second quarter of 2023, compared to $37.7 million in the same period last year. Comparable RevPAR increased by 3.6% to $245.91. The company's Board of Directors has increased the quarterly common dividend to $0.07 per share.

Sunstone Hotel Investors reported a net income of $21.1 million for the first quarter of 2023, compared to $15.1 million in the same period of 2022. Comparable RevPAR increased by 32.0% to $218.82, and Adjusted EBITDAre increased by 121.0% to $60.0 million. The company also repurchased $21 million of its common stock and refinanced its 2023 debt maturity.

Sunstone Hotel Investors reported net income of $17.5 million for the fourth quarter of 2022, with comparable portfolio RevPAR increasing by 34.2% to $193.59 and Adjusted EBITDAre increasing by 120.6% to $68.8 million.

Sunstone Hotel Investors reported a net income of $20.5 million for the third quarter of 2022, a significant improvement compared to the net loss of $22.1 million in the same period of 2021. The company saw increases in Comparable Portfolio RevPAR and Adjusted EBITDAre, and continued to return capital to shareholders through share repurchases and dividends.

Sunstone Hotel Investors reported a net income of $37.7 million for the second quarter of 2022, a substantial increase from the net loss of $27.9 million in the same period last year. The company's comparable portfolio RevPAR increased by 98.4% to $220.37, driven by growth in both occupancy and average daily rate. Sunstone completed strategic acquisitions and share repurchases, and reinstated its common dividend.

Sunstone Hotel Investors reported a positive first quarter in 2022 with a net income of $15.1 million, a significant increase compared to the net loss of $55.3 million in the same period last year. The company saw a substantial rise in RevPAR across its 12 and 14 hotel portfolios, driven by increases in both occupancy and average daily rate. Adjusted EBITDAre also showed a strong increase, reflecting improved operational performance. The company actively recycled capital through property sales and share repurchases.

Sunstone Hotel Investors reported a net income of $138.3 million for Q4 2021, a substantial increase compared to the net loss of $39.4 million in Q4 2020. The company benefited from strong leisure demand and strategic asset management, including the sale of the Hyatt Centric Chicago Magnificent Mile.

Sunstone Hotel Investors reported a net loss of $22.1 million for the third quarter of 2021, a significant improvement compared to the $91.1 million loss in the same period of 2020. The company's RevPAR for the 16 Hotel Portfolio increased by 633.4% to $136.12. Adjusted EBITDAre increased by 197.7% to $35.4 million, and Adjusted FFO per diluted share increased by 138.5% to $0.10.

Sunstone Hotel Investors reported improved results for the second quarter of 2021, with RevPAR increasing significantly and the company achieving positive corporate-level Adjusted EBITDAre profit. The acquisition of Montage Healdsburg was completed, and financing initiatives were undertaken to enhance investment flexibility.

Sunstone Hotel Investors reported a net loss of $55.3 million for the first quarter of 2021, with a RevPAR decrease of 69.5% to $42.19 and an Adjusted EBITDAre decrease of 203.7% to $(14.7) million.

Sunstone Hotel Investors faced significant challenges in 2020 due to the pandemic, but managed to navigate the crisis by selling hotels, reducing debt, and focusing on long-term growth. The company saw a recovery in demand, including leisure, commercial, and group, and anticipates a return to profitability in late Q2 or early Q3 2021.

Sunstone Hotel Investors reported a challenging third quarter due to the ongoing global pandemic. Despite the difficulties, the company saw positive signs of recovery, with sequential monthly gains in occupancy and improved transient room reservations. The company is focused on reducing cash burn and maintaining a strong liquidity position.

Sunstone Hotel Investors reported a challenging second quarter due to the COVID-19 pandemic, with revenues significantly down, but the company is gradually resuming operations at its hotels and has a strong liquidity position.

Sunstone Hotel Investors reported a challenging first quarter due to the COVID-19 pandemic, with significant impacts on hotel operations and revenue. The company suspended operations at 14 of its 20 hotels and implemented cost-saving measures to preserve liquidity. Despite the difficulties, Sunstone is focused on methodically reopening hotels and positioning itself to capitalize on future market opportunities, leveraging its strong balance sheet and relationships with capital partners.

Sunstone Hotel Investors reported better-than-expected fourth quarter and full year operating results and earnings in 2019, driven by continued investments in their portfolio. The company disposed of the leasehold interest in the Courtyard LAX for $50 million. Despite a challenging operating backdrop, fourth quarter comparable portfolio RevPAR increased 80 basis points over the prior year and comparable portfolio total revenues increased 2.1%.