secwatch.observer — SEC 8-K summary
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Issuer:     Sunstone Hotel Investors, Inc. (SHO)
CIK:        0001295810
Form:       8-K
Filed at:   2022-06-02T23:59:59+00:00
Accession:  0001558370-22-009665
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sunstone completes Miami acquisition; to buy remaining 25% of Hilton San Diego Bayfront for $102M
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- Completed $232M acquisition of 339-room Confidante Miami Beach; $60M repositioning to Andaz, expected 8-9% stabilized NOI yield.
- Agreed to acquire Park's 25% JV interest in Hilton San Diego Bayfront for $102M cash + $55M debt assumption; $628M implied value.
- Q2 2022 comparable hotel RevPAR down 4.6% vs 2019; ADR up 11.3%; occupancy down 1,240 bps; group pace down 15%.
- Repurchased 1.9M shares Apr-Jun at $11.01 avg; YTD 5.8M shares for $64.6M; $435.4M remaining under authorization.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1295810/000155837022009665/0001558370-22-009665-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1295810/000155837022009665/sho-20220527x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-22-009665

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer