$11.330
+0.142 (+1.25%)At close
SHO News
SHO Events
Sunstone Hotel Sells Hyatt Regency San Francisco for $279M
Sunstone Hotel (SHO) announced that it has entered into a definitive agreement to sell the 821-room Hyatt (H) Regency San Francisco to funds affiliated with Blackstone (BX) Real Estate for a gross sale price of $279M, or approximately $340,000 per key. The sale price represents a 21.4x multiple on Hotel Adjusted EBITDA and a 3.5% cap rate on Hotel Net Operating Income for the trailing twelve-month period ending May 31. The company expects the transaction to close in late July or early August and will provide additional details regarding the disposition, including the expected impact on the company's full year outlook, as part of its upcoming quarterly earnings release in early August.
Company Reports Q1 Revenue of $259.71M, Beating Expectations
Reports Q1 revenue $259.71M, consensus $247.37M. Reports Q1 Total RevPAR for all hotels in the portfolio up 13.4% to $411.28. Total RevPAR excluding Andaz Miami Beach increased 5.3%. Bryan A. Giglia, CEO, stated, "We are pleased with our performance in the first quarter which came in ahead of our expectations despite weather-related headwinds at several hotels throughout the quarter. While the strength was broad based, we were particularly encouraged by our resort portfolio, including solid first quarter performance at Andaz Miami Beach. Our first quarter results demonstrate the embedded growth potential of our portfolio as we benefit from our prior investments and some of our larger markets continue to normalize. We are revising our full year outlook higher to reflect the outperformance in the first quarter, and while trends in the initial months of 2026 give us reasons to be optimistic about the remainder of the year, we retain a level of caution given the uncertain backdrop."
FY26 AFFO Expected at 89 Cents, RevPAR Growth Raised to 5.0%-7.5%
Consensus is for FY26 AFFO 89c. Raises FY26 RevPAR Growth view to 5.0%-7.5% from 4.0%-7.0%.
Sees FY26 Adjusted EBITDA of $225M-$250M
Sees FY26 adjusted EBITDA $225M-$250M; Total RevPAR growth 3.5%-6.5%.
Sunstone's Board Reauthorizes $500M Stock Repurchase Program
In February Sunstone's Board of Directors reauthorized the company's stock repurchase program which allows the company to acquire up to $500M of its common and preferred stock. The authorization has no stated expiration.
This page is for research only and is not investment advice. Models can be wrong. Past performance does not guarantee future results.