• Sunstone revpar up 5.4%, buys hotel

Sunstone Hotel Investors announced that it expected first quarter revpar to increase by 5.4% year-on-year.

The comments came as the group said it had agreed to acquire the 75% majority interest in a joint venture that owns the 1,190-room Hilton San Diego Bayfront hotel in San Diego, for a total valuation of $475.0m. The figure represents a 13.8x 2010 Ebitda multiple.

See the full release here:
http://www.prnewswire.com/news-releases/sunstone-hotel-investors-provides-business-update-118864969.html

Share →