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Sunstone Hotels Investors Inc

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BUSINESS
August 7, 1998 | Bloomberg News
Sunstone Hotel Investors Inc. said it has completed the sales of five hotels in Idaho, Montana and West Virginia for about $41.3 million. The San Clemente-based real estate investment trust sold four hotels to Cavanaughs Hospitality Corp. for $30.3 million and one hotel to GF Management for $11 million. The five hotels have a total of 838 rooms.
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BUSINESS
August 3, 1999
The San Clemente real estate investment trust reported net income of $607,000, or 2 cents a share, for the second quarter, down from $5.8 million, or 15 cents a share, a year ago. Funds from operations dropped 13% to $13.6 million, or 33 cents a share, from $15.6 million, or 38 cents a share. Revenue rose 2% to $25.4 million. The acquisition of Sunstone by SHP Acquisition LLC is expected to close during the fourth quarter.
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BUSINESS
April 30, 1999
The San Clemente real estate investment trust reported first-quarter net income of $3.8 million, or 10 cents a share, down 38% from the $6.1 million, or 17 cents a share, a year ago. Funds from operations declined 6% to $14 million, or 34 cents a share, from $14.9 million, or 38 cents a share. Revenue rose 5% to $24.9 million, from $23.7 million. The company said that in the prior 12 months it acquired four hotels for $59.
BUSINESS
August 7, 1998 | Bloomberg News
Sunstone Hotel Investors Inc. said it has completed the sales of five hotels in Idaho, Montana and West Virginia for about $41.3 million. The San Clemente-based real estate investment trust sold four hotels to Cavanaughs Hospitality Corp. for $30.3 million and one hotel to GF Management for $11 million. The five hotels have a total of 838 rooms.
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