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Mar 31, 2021
Sunstone Q1 2021 Earnings Report
Sunstone's financial performance was impacted by the COVID-19 pandemic, but the portfolio achieved sequential monthly growth in occupancy, ADR and RevPAR, with March results exceeding expectations and achieving breakeven EBITDA.
Key Takeaways
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.
15 of the Company’s 17 hotels were in operation for the entirety of the first quarter 2021.
Net loss was $55.3 million as compared to $162.5 million.
17 Hotel Portfolio RevPAR decreased 69.5% to $42.19.
Adjusted EBITDAre, excluding noncontrolling interest decreased 203.7% to $(14.7) million.
Revenue by Geographic Location
Forward Guidance
Due to continued uncertainty regarding the duration and extent of the COVID-19 pandemic, the Company cannot provide further assurances regarding the pandemic’s effect on the Company’s results, and the Company does not intend to provide further updates unless deemed appropriate.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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