Sunstone Hotel Investors Reports Results For First Quarter 2021
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IRVINE, Calif., May 3, 2021 /PRNewswire/ Sunstone Hotel Investors, Inc. (the Company or Sunstone ) (NYSE: SHO), the owner of Long-Term Relevant Real Estate® in the hospitality sector, today announced results for the first quarter ended March 31, 2021.
First Quarter 2021 Operational Results (as compared to First Quarter 2020):
Resumption of Hotel Operations: 15 of the Company s 17 hotels were in operation for the entirety of the first quarter 2021.
Net Loss: Net loss was $55.3 million as compared to $162.5 million.
17 Hotel Portfolio RevPAR: 17 Hotel Portfolio RevPAR decreased 69.5% to $42.19.
Adjusted EBITDA
re, excluding noncontrolling interest decreased 203.7% to $(14.7) million.
18 February 2021
COVID-19 has had a devastating impact on hotel sales transactions in every state – except California. California’s new hotel construction in 2020 also continues at slowed pace following a record-breaking pace set in the first half of 2019.
In 2020 the total number of hotel sales in the US plummeted by 52.6%, New York State was down 62%, Texas down 54% and Florida down 48%.
California on the other hand had a slight increase in sales from 2019, up 0.3% and accounted for 28% of all of the Sales in the US in 2020, according to Atlas Hospitality’s California Hotel Sales Survey 2020 Year-End.
California hotel sales transactions were 15.5% higher than Florida, Texas, and New York States, combined.
Sunstone Hotel Investors Reports Results For Fourth Quarter And Full Year 2020
To Reposition and Rebrand the Renaissance Washington DC to The Westin Washington DC
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IRVINE, Calif., Feb. 11, 2021 /PRNewswire/ Sunstone Hotel Investors, Inc. (the Company or Sunstone ) (NYSE: SHO), the owner of Long-Term Relevant Real Estate® in the hospitality sector, today announced results for the fourth quarter and year ended December 31, 2020.
Fourth Quarter 2020 Operational Results (as compared to Fourth Quarter 2019):
Resumption of Hotel Operations: 15 of the Company s 17 hotels were in operation as of December 31, 2020 (see details below), and 13 of the Company s 17 hotels were in operation for the entirety of the fourth quarter 2020.