Hotel News Resource - Sunstone Hotel Industry News

Comparable Hotel EBITDA increased 12.2% to $56.4 million.

Hotel Check-In checked in with Ken Cruse, the newly named CEO of Sunstone Hotel Investors, which owns 33 upscale hotels that depend on business ...

XONA Resort Suites Scottsdale, your home-away-from-home when vacationing in the Sonoran Desert, is now operating under new ownership. Sunstone U.S. Opportunity (No. 3) Realty Trust was created by Sunstone Realty Advisors, of Vancouver, British Columbia and assumes ownership of the hotel effective January 27th, 2011.

Drives strong margin performance through expense controls - Looks to expand portfolio size and quality through disciplined acquisitions - Maintains substantial cash balance

Reports Moderation in RevPAR Decline Continues to Pursue Acquisitions Explores Independent Hotel Management Alternatives Concludes Secured Debt Restructuring Program

Has entered into a contract to manage the full-service Radisson Hotel Denver Stapleton Plaza, in Denver, Colo. The 300-room hotel is owned by Holualoa Companies, a real estate investment firm based in Tucson, Ariz.

August total portfolio RevPAR was $105.65, down 20.8% to prior year.

The hotel was recently acquired by San Diego-based Pinnacle Hotels USA. SHM had managed the hotel the past nine years for prior ownership.

The underwriters will be granted a 30-day option to purchase up to an additional 2,700,000 shares of common stock to cover over-allotments, if any.

Sunstone Hotel Investors, Inc. (NYSE:SHO) announced today the sale of the 274-room Marriott located in Napa, California for gross sale proceeds of $36.0 million. Sunstone estimates that the property would require approximately $6 million in near-term renovation expenditures to comply with Marriott brand standards.