BRIEF-Sunstone Hotel Investors To Acquire Hyatt Regency San Antonio Riverwalk-February 2024-www.financetom.com

BRIEF-Sunstone Hotel Investors To Acquire Hyatt Regency San Antonio Riverwalk

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BRIEF-Sunstone Hotel Investors To Acquire Hyatt Regency San Antonio Riverwalk

Apr 10, 2024 2:34 PM

April 10 (Reuters) - Sunstone Hotel Investors Inc ( SHO )

* SUNSTONE HOTEL INVESTORS TO ACQUIRE HYATT REGENCY SAN

ANTONIO

RIVERWALK

* SUNSTONE HOTEL INVESTORS INC ( SHO ) - SUNSTONE IS ACQUIRING HOTEL

FOR A

GROSS PURCHASE PRICE OF $230 MILLION.

* SUNSTONE HOTEL INVESTORS ( SHO ): HYATT TO CONTINUE TO MANAGE

HOTEL

UNDER HYATT REGENCY BRAND, TO CONTRIBUTE ABOUT $8 MILLION OF KEY

MONEY AS PART OF DEAL

* SUNSTONE HOTEL INVESTORS:DEAL TO BE FUNDED FROM CASH ON

HAND

USING PORTION OF SALE PROCEEDS FROM PREVIOUSLY COMPLETED

DISPOSITION OF BOSTON PARK PLAZA

* SUNSTONE HOTEL INVESTORS ( SHO ) - EXPECTS HOTEL TO CONTRIBUTE

$12-$13

MILLION OF HOTEL EBITDA DURING CO'S OWNERSHIP PERIOD IN 2024

* SUNSTONE HOTEL INVESTORS ( SHO ) - EXPECTS HOTEL TO CONTRIBUTE

ABOUT

$0.06 OF ADJUSTED FFO PER DILUTED SHAREDURING CO'S OWNERSHIP

PERIOD IN 2024

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