Shopify President Harley Finkelstein joins Yahoo Finance Live to break down the company's Q1 earnings miss, its purchase of fulfillment center distributors like Deliverr, and the outlook of retail and digital sales.
An affiliate of Hyatt Hotels Corp. has agreed to sell the Confidante Miami Beach hotel, which will be rebranded. Irvine, California-based Sunstone Hotel Investors (NYSE: SHO) announced it will pay $232 million for the 339-room hotel at 4041 Collins Ave. The seller was HT Miami Beach LLC, part of Chicago-based Hyatt Hotels (NYSE: H), which also operates the hotel. The beachfront hotel last traded for $229.4 million in 2016, so it had a relatively modest gain in value.
Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE: SHO), the owner of Long-Term Relevant Real Estate® in the lodging industry, announced that it has entered into a definitive agreement with an affiliate of Hyatt Hotels Corporation to acquire the 339-room The Confidante Miami Beach (the "Hotel"), located on 1.5 acres of fee-simple, oceanfront land in Miami Beach for a purchase price of $232 million, or $684,000 per key. Following the acquisition, the Company expects to pursue a f