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Sunstone Hotel Investors, Inc. (SHO)

NYSE - NYSE Delayed Price. Currency in USD
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11.18-0.36 (-3.12%)
At close: 04:00PM EDT
10.62 -0.56 (-5.01%)
After hours: 04:21PM EDT
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    Sunstone Hotel Investors (SHO) Q1 2022 Earnings Call Transcript

    With us on the call today are Doug Pasquale, executive chairman; Bryan Gigila, chief executive officer; Robert Springer, president and chief investment officer; and Christopher Ostapovicz, chief operating officer. On today's call, Doug will start us off with some commentary on the industry and our company.

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    Hyatt Hotels to sell Miami Beach hotel for $232M with major renovation to follow

    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.

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