Sunstone Hotel Investors, Inc. Provides Earnings Guidance for the First Quarter Ending March 31, 2020 and Full Year 2020; Announces Impairment Loss for the Fourth Quarter Ended December 31, 2019
February 18, 2020 at 04:15 pm EST
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Sunstone Hotel Investors, Inc. provided earnings guidance for the first quarter ending March 31, 2020 and full year 2020. For the quarter the company expects net income of $7 million to $11 million.
For the full year, the company expects net income of $94 million to $119 million.
For the quarter, the company announced impairment loss of $24,713,000.
Sunstone Hotel Investors, Inc. is a real estate investment trust. The Company owns approximately 14 hotels, comprised of 6,675 rooms, located in six states and in Washington, DC. The Companyâs portfolio consists of luxury hotels located in convention, resort destinations and urban markets. It is the owner of Long-Term Relevant Real Estate (LTRR) in the lodging industry, specifically hotels in urban and resort destination locations. The Company's hotels are operated by third-party managers under long-term management agreements with TRS Lessee or its subsidiaries. It is operated by third-party managers under long-term management agreements with the TRS Lessee or its subsidiaries. Its third-party managers include subsidiaries of Marriott International, Inc.; managers of six of the Companyâs hotels; Hyatt Hotels Corporation, manager of two of its hotels; and Four Seasons Hotels Limited, Highgate Hotels L.P. and an affiliate, Hilton Worldwide, and Interstate Hotels & Resorts, Inc.
Sunstone Hotel Investors, Inc. Provides Earnings Guidance for the First Quarter Ending March 31, 2020 and Full Year 2020; Announces Impairment Loss for the Fourth Quarter Ended December 31, 2019
SUNSTONE HOTEL INVESTORS, INC. 
