Sunstone Hotel Investors Announces During The First Two Months Of The Quarter, The Company Generated Growth In Total Portfolio RevPAR And Total RevPAR, Excluding The Confidante Miami Beach, Of 2.4% And 6.3%, Respectively, And Adjusted EBITDAre Of ~$37M, In-Line With The FY24 Outlook

Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE:SHO) today provided an update on recent operating activity for the third quarter and the estimated resulting impact on its previously provided full-year 2024 outlook.

Operations Update

The Company's operations for July and August 2024 were consistent with its prior expectations and reflect continued strength in group activity, an acceleration in business travel and an anticipated market-wide moderation in leisure demand in Maui. During the first two months of the quarter, the Company generated growth in total portfolio RevPAR and Total RevPAR, excluding The Confidante Miami Beach, of 2.4% and 6.3%, respectively, and Adjusted EBITDAre of approximately $37 million, which was in-line with the full-year 2024 outlook as presented in the Company's second quarter earnings release provided on August 7, 2024.