- Sunstone Hotel Investors (NYSE:SHO) said Wednesday that its operating statistics for all of its 15 hotels turned lower in August vs. July, though the REIT cited robust leisure travel.
- August's occupancy rate fell to 69.2% from 73.8% in July.
- Average daily rate of $297.07 at August 31 drifted down from $315.59 in the prior month.
- Revenue per room came in at $205.57, compared with $232.91 a month before.
- Total revenue totaled $75M, down from $86M in July. And hotel adjusted EBITDAre was $20M vs. $27M a month ago.
- Previously, (Aug. 16) Sustone Hotel gained after Blackstone took stake in 13-F filing.
Sunstone Hotel occupancy, ADR, RevPAR slide in August vs. July
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Symbol | Last Price | % Chg |
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Sunstone Hotel Investors, Inc. |