• 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.

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