Sunstone Q2 net income falls to $26.1M; adjusted FFO down 15.2%

Sunstone Hotel Investors, Inc.

2024-Q2 EPS reported $0.16 revenue$464,647,000

Net income $26.1M vs $43.1M YoY; Adjusted EBITDA re down 13.6% to $73.5M.
Comparable RevPAR decreased 2.0% to $232.59; ADR $322.60, occupancy 72.1%.
Adjusted FFO per diluted share $0.28, down 15.2% YoY.
Excluding hotel renovations (Confidante Miami Beach, Long Beach Downtown), RevPAR up 0.4% and 2.1%.

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