Sunstone Hotel Investors, Inc. has recently released its 10-Q report, which provides an insight into the company's financial performance. Sunstone Hotel Investors, Inc. is a lodging real estate investment trust that owns 14 hotels comprised of 6,675 rooms, the majority of which are operated under nationally recognized brands. The company's strategy focuses on creating long-term stakeholder value through the acquisition, active ownership, and disposition of well-located hotel and resort real estate.
In its 10-Q report, Sunstone Hotel Investors, Inc. outlined its operating activities, including revenues and expenses. The company's revenues are primarily derived from the operation of its hotels, consisting of room revenue, food and beverage revenue, and other operating revenue, which includes ancillary hotel revenue and other items primarily driven by occupancy. On the expense side, the company incurs various costs, including room expense, food and beverage expense, other operating expense, property tax, ground lease and insurance expense, other property-level expenses, corporate overhead expense, and depreciation and amortization expense.
The report also delves into the factors affecting Sunstone's operating results, such as overall demand for hotel rooms, the pace of new hotel development, and the relative performance of its operators in increasing revenue and controlling hotel operating expenses. The company's operating performance indicators, including occupancy, average daily room rate, revenue per available room, and EBITDAre, were also discussed in detail.
Furthermore, the 10-Q report provided a detailed breakdown of Sunstone Hotel Investors, Inc.'s operating results for the three months ended September 30, 2024, and the nine months ended September 30, 2024. The report highlighted the changes in revenues, operating expenses, interest and other income, interest expense, gain on extinguishment of debt, income before income taxes, income tax benefit (provision), net income, and (loss) income attributable to common stockholders between the two periods.
The report presents a comprehensive overview of Sunstone Hotel Investors, Inc.'s financial condition and results of operations, shedding light on its revenue streams, expenses, and key performance indicators, providing stakeholders with valuable insights into the company's performance and prospects. The market has reacted to these announcements by moving the company's shares -2.8% to a price of $10.59. Check out the company's full 10-Q submission here.
