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Sep 30, 2022
Sunstone Q3 2022 Earnings Report
Sunstone's operating results reflected strength in leisure travel and growth in corporate and group demand, with operators growing room rates and delivering operating margins near pre-pandemic levels.
Key Takeaways
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.
Net income was $20.5 million, compared to a net loss of $22.1 million in Q3 2021.
Comparable Portfolio RevPAR increased by 49.0% to $207.18.
Adjusted EBITDAre increased by 80.6% to $63.8 million.
The company repurchased $20.0 million of its common stock as of November 4, 2022.
Sunstone
Sunstone
Sunstone Revenue by Geographic Location
Revenue by Geographic Location
Total Portfolio Revenue
CapyFin.com Forward Guidance
No explicit forward guidance was provided in the text extract.