Sunstone Hotel Q1 net income $13M, RevPAR down 5.1%; acquires Hyatt Regency San Antonio, raises dividend

Sunstone Hotel Investors, Inc.

2024-Q1 EPS reported $0.05 revenue$217,166,000

Net income $13.0M vs $21.1M YoY; Adjusted FFO per diluted share $0.18, down 14.3%.
Comparable RevPAR fell 5.1% to $223.06; ADR $325.16, occupancy 68.6%.
Adjusted EBITDAre decreased 9.2% to $54.5M.
Acquired Hyatt Regency San Antonio Riverwalk; increased quarterly dividend (amount not disclosed).
Annual meeting: all directors elected; director Pasquale received 38M against votes.

item 2.02 item 5.07 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Sunstone Hotel Investors, Inc. reported first quarter ended March 31, 2024 results: net income $13.0 million, EPS $0.18.

Period: first quarter ended March 31, 2024
Net income: $13.0 million
EPS: $0.18
Result: reported results

Exact text from the filing

Sunstone Hotel Investors, Inc. (the "Company") issued a press release regarding its financial results for the first quarter ended March 31, 2024.

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 1.0

Sunstone Hotel Investors, Inc. shareholders approved Ratification of the Audit Committee's appointment of Ernst & Young LLP as independent registered public accounting firm for fiscal year ending December 31, 2024 at the 2024-05-03 meeting.

Proposal: auditor ratification
Outcome: passed
Meeting: 2024-05-03

Exact text from the filing

Ratification of the Audit Committee’s appointment of Ernst & Young LLP to act as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024:

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Shareholder Votes SEC 8-K Item 5.07 confidence 1.0

Sunstone Hotel Investors, Inc. shareholders approved Election of eight directors to serve until the next annual meeting at the 2024-05-03 meeting.

Proposal: director election
Outcome: passed
Meeting: 2024-05-03

Exact text from the filing

Election of eight directors to serve until the next annual meeting and until their successors are elected and qualified:

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Shareholder Votes SEC 8-K Item 5.07 confidence 1.0

Sunstone Hotel Investors, Inc. shareholders approved Advisory vote to approve the compensation of the Company's named executive officers at the 2024-05-03 meeting.

Proposal: say on pay
Outcome: passed
Meeting: 2024-05-03

Exact text from the filing

Advisory vote to approve the compensation of the Company’s named executive officers:

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Sunstone Hotel Investors, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-24-006696

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