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Jun 30, 2021
Sunstone Q2 2021 Earnings Report
Sunstone's Q2 2021 financial performance was reported, marked by a substantial increase in RevPAR and positive corporate-level Adjusted EBITDAre profit.
Key Takeaways
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.
Net loss was $27.9 million, an improvement compared to $117.5 million in the same quarter of the previous year.
RevPAR for the 17 Hotel Portfolio increased by 3,182.2% to $95.84.
Adjusted EBITDAre, excluding noncontrolling interest, increased by 132.6% to $15.3 million.
The company completed the acquisition of the Montage Healdsburg and refinanced two series of perpetual preferred stock.
Revenue by Geographic Location
Forward Guidance
The company expects continued growth for the remainder of the year, as business transient and group demand become a larger portion of our business mix.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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