• Sunstone buys NYC hotel

Sunstone Hotel Investors said that it expected fourth-quarter revpar to increase by 5.7% on the year.

Marc Hoffman, COO, said that the group expected to see "an acceleration in demand in 2011". The Reit also announced that it was acquiring the remaining 62% interest in its Doubletree Guest Suites Times Square for $37.5m, making it the sole owner.

See the full release here:
http://www.sunstonehotels.com/investor_relations/index.cfm

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