Sunstone Hotel Investors (SHO) Company Report

Q3 2025 operating results were in line with expectations, with continued strength in San Francisco (over 15% RevPAR growth) helping to offset softer demand in other areas, and urban hotels achieving 140 basis points of margin growth.
The company expects Q4 2025 RevPAR growth in the mid-single-digit range, with Andaz Miami Beach contributing approximately 450 basis points of this growth, and anticipates Q4 EBITDA in the low $50 million area.
For 2026, the Andaz Miami Beach is projected to achieve $12 million-$16 million in EBITDA, supported by strong Q1 bookings and major events, with stabilization expected in 2027.
The company has been active in asset recycling, disposing of over $600 million of assets and acquiring roughly $600 million of assets, while also repurchasing nearly $300 million of stock (14% of outstanding shares) to enhance shareholder value.

Nov 7, 2025, 4:00 PM

Sunstone Hotel Investors Reports Q3 2025 Results and Maintains Outlook

SHO

Earnings

Guidance Update

Share Buyback

Sunstone Hotel Investors, Inc. reported net income of $1.3 million for the third quarter ended September 30, 2025, and Total Portfolio RevPAR increased 2.0% to $216.12.
Adjusted FFO attributable to common stockholders per diluted share for Q3 2025 was $0.17, a 5.6% decrease compared to Q3 2024.
The company successfully recast its credit facilities, establishing an aggregate borrowing capacity of $1.35 billion and addressing all debt maturities through 2028.
During the third quarter of 2025, the company repurchased 258,870 shares of common stock for $2.3 million at an average price of $8.70 per share, with $326.9 million remaining under its stock repurchase program authorization.
Sunstone Hotel Investors is maintaining its full-year 2025 outlook, expecting Net Income between $14 million and $28 million and Adjusted FFO per diluted share between $0.80 and $0.87.

Nov 7, 2025, 12:40 PM

Sunstone Hotel Investors Reports Q3 2025 Results and Completes Credit Agreement

SHO

Earnings

Debt Issuance

Sunstone Hotel Investors reported a net income of $1.3 million for the third quarter of 2025, a decrease from $3.2 million in the same period of 2024, resulting in a diluted loss per share of $0.02 for Q3 2025.
For the nine months ended September 30, 2025, net income was $17.4 million, down 59.1% from $42.4 million in the prior year period, with diluted earnings per share of $0.03.
Total Portfolio RevPAR increased by 2.0% to $216.12 for Q3 2025 and by 2.0% to $226.58 for the nine months ended September 30, 2025, compared to the respective prior year periods.
Adjusted EBITDAre decreased by 6.6% to $50.1 million for Q3 2025 and by 0.9% to $180.0 million for the nine months ended September 30, 2025.
The company completed its Third Amended and Restated Credit Agreement, providing an aggregate borrowing capacity of $1.35 billion and extending loan maturities to 2030 and 2031, which includes a $500.0 million revolving credit facility and various term loan facilities.

Nov 7, 2025, 12:30 PM

COPT Defense Properties Reports Strong Q3 2025 Results and Raises 2025 Guidance

SHO

Earnings

Guidance Update

New Projects/Investments

COPT Defense Properties reported a record-high occupancy rate of 95.4%, the highest in two decades, driven by strong demand from defense and tech tenants.
The company exceeded earnings expectations in the third quarter, with funds from operations (FFO) of $0.69 per share and revenues of $188.8 million, both surpassing consensus estimates.
Management raised the 2025 FFO per share guidance to a range of $2.69 to $2.71, indicating confidence in continued growth and leasing demand, supported by $72 million in new project commitments.
Despite recent earnings beats and raised guidance, COPT Defense's stock has underperformed the market year-to-date, declining about 11.2% compared to the S&P 500's 17.2% gain.

Oct 31, 2025, 5:50 AM

Sunstone Hotel Investors Completes $1.35 Billion Amended and Restated Credit Agreement

SHO

Debt Issuance

Sunstone Hotel Investors, Inc. (SHO) entered into a Third Amended and Restated Credit Agreement on September 24, 2025, establishing an aggregate borrowing capacity of $1.35 billion.
This agreement addresses all near-term maturities, extends the duration of remaining in-place loans, and strengthens the company's balance sheet.
The facilities consist of a $500 million revolving credit facility and $850 million in term loan facilities, with maturities extending to 2030 and 2031, inclusive of extension options.
Following the repayment of Series A Senior Notes in January 2026 using a delayed draw of up to $90 million, the company is expected to have no debt maturities until 2028.
The company also entered into interest rate swaps, resulting in over 75% of its debt and preferred equity now being subject to fixed rates.

Sep 26, 2025, 8:31 PM

Sunstone Hotel Investors Completes Amended Credit Agreement

SHO

Debt Issuance

New Projects/Investments

Sunstone Hotel Investors, Inc. (SHO) has entered into a $1.35 billion Third Amended and Restated Credit Agreement.
This agreement addresses all maturities through 2028, extends the average maturity of debt by over three years, and lowers the overall cost of borrowing.
The new facilities include a $500 million revolving credit facility and three term loan facilities totaling $850 million, with initial maturities extending into 2029, 2030, and 2031.
The company utilized interest rate swaps, resulting in over 75% of its debt and preferred equity now subject to fixed rates, and will have no debt maturities until 2028 after repaying Series A Senior Notes.

Sep 25, 2025, 12:00 PM

Earnings Transcripts

Quarterly earnings call transcripts for Sunstone Hotel Investors.

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