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Sunstone Hotel Investors, Inc. (SHO) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 31, 2019

Sunstone Hotel Investors, Inc.

CIK: 1295810 Ticker: SHO

Exhibit 99.1

2007 Logo Med

For Additional Information:

Bryan Giglia

Sunstone Hotel Investors, Inc.

(949) 382-3036

 

Aaron Reyes

Sunstone Hotel Investors, Inc.

(949) 382-3018

 

 

 

SUNSTONE HOTEL INVESTORS REPORTS RESULTS FOR FIRST QUARTER 2019

 

 

IRVINE, CA  – May 6, 2019 – 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, 2019.

 

First Quarter 2019 Operational Results (as compared to First Quarter 2018):

 

·

Net income decreased 53.4% to $17.9 million. Excluding the effect of the gain on the two hotels sold during the first quarter of 2018, net income would have decreased 21.4%.

·

Income attributable to common stockholders per diluted common share decreased 60.0% to $0.06. Excluding the effect of the gain on the two hotels sold during the first quarter of 2018,  income attributable to common stockholders per diluted common share would have decreased 25.0%.

·

21 Hotel Comparable Portfolio RevPAR increased 4.3% to $177.23.

·

21 Hotel Comparable Portfolio Adjusted EBITDAre Margin,  excluding prior year property tax adjustments, net increased 40 basis points to 26.3%.

·

Adjusted EBITDAre, excluding noncontrolling interest increased 3.3% to $64.5 million.

·

Adjusted FFO attributable to common stockholders per diluted share increased 5.0% to $0.21.

 

John Arabia,  President and Chief Executive Officer, stated, “Comparable property-level Adjusted EBITDA increased an impressive 6.0% in the first quarter due to strength in both group and transient business, healthy out-of-room revenues growth, the continued benefit from our completed renovation projects, and an ongoing focus on operating efficiencies. First quarter Comparable Portfolio RevPAR came in near the high end of our previously provided guidance range and our Comparable Portfolio Adjusted EBITDA margins increased by a healthy 40 basis points, which combined, resulted in quarterly earnings materially above the high end of our previously provided guidance range. Our outlook for operating fundamentals for the remainder of the year has not changed; therefore, we have increased our full-year earnings guidance for 2019.” 

 

 

 

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The following information was filed by Sunstone Hotel Investors, Inc. (SHO) on Monday, May 6, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Sunstone Hotel Investors, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

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Inside Sunstone Hotel Investors, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Equity (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Equity
Consolidated Statements Of Operations
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Management Fees, Franchise Costs And Renovation Commitments (Details)
Commitments And Contingencies - Other Commitments And Concentration Of Risk (Details)
Fair Value Measurements And Interest Rate Derivatives
Fair Value Measurements And Interest Rate Derivatives (Tables)
Fair Value Measurements And Interest Rate Derivatives - Fair Value Measurements (Details)
Fair Value Measurements And Interest Rate Derivatives - Fair Value Of Debt (Details)
Fair Value Measurements And Interest Rate Derivatives - Interest Rate Derivatives (Details)
Investment In Hotel Properties
Investment In Hotel Properties (Details)
Investment In Hotel Properties (Tables)
Leases
Leases (Tables)
Leases - Components Of Lease Cost (Details)
Leases - Future Maturities Of Lease Liabilities (Details)
Leases - Lessor Information (Details)
Leases - Supplemental Balance Sheet Information Related To Leases (Details)
Leases - Supplemental Cash Flow Information Related To Leases (Detail)
Long-Term Incentive Plan
Long-Term Incentive Plan (Details)
Long-Term Incentive Plan (Tables)
Notes Payable
Notes Payable (Details)
Notes Payable (Tables)
Notes Payable - Interest Expense (Details)
Organization And Description Of Business
Organization And Description Of Business (Details)
Organization And Description Of Business (Tables)
Other Assets
Other Assets (Details)
Other Assets (Tables)
Other Current Liabilities And Other Liabilities
Other Current Liabilities And Other Liabilities (Details)
Other Current Liabilities And Other Liabilities (Tables)
Stockholders' Equity
Stockholders' Equity (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Information (Details)
Summary Of Significant Accounting Policies - Adoption Of New Lease Standard (Details)
Summary Of Significant Accounting Policies - Earnings Per Share (Details)

Material Contracts, Statements, Certifications & more

Sunstone Hotel Investors, Inc. provided additional information to their SEC Filing as exhibits

Ticker: SHO
CIK: 1295810
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-19-004430
Submitted to the SEC: Wed May 08 2019 11:04:19 AM EST
Accepted by the SEC: Wed May 08 2019
Period: Sunday, March 31, 2019
Industry: Hotels And Motels

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