Sunstone reports Q3 net loss of $22.1M; RevPAR up 633%; acquisition and sale contracts

Sunstone Hotel Investors, Inc.

2022-Q3 EPS reported -$0.56 revenue$335,264,000

Net loss of $22.1M vs $91.1M loss in Q3 2020; Adjusted FFO per share $0.10, up 138.5%.
16 Hotel Portfolio RevPAR $136.12, up 633.4% YoY; occupancy 54.8%, ADR $248.40.
Adjusted EBITDA re $35.4M, up 197.7% vs prior year.
Under contract to buy Four Seasons Resort Napa Valley for $177.5M and sell Embassy Suites La Jolla for $226.7M.
Sold Renaissance Westchester for $18.8M in October 2021.

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