Thursday February 21st, 2013 - 8:05AM
ALISA VIEJO, CA—Sunstone Hotel Investors fourth-quarter 2012 RevPAR increased 3.6% compared to the same period last year.
In his remarks accompanying the earnings release, CEO Ken Cruse noted the REIT currently has approximately $300 million to invest. Sunstone expects to invest a significant portion of these funds in acquiring high quality hotels.
The REIT presently has an ownership interest in 26 hotels with 11, 632 rooms.