Sunstone Hotel Investors Completes Sale of Hilton New Orleans St. Charles, Reinvests Proceeds in Share Repurchases

Reuters

06/09

Sunstone Hotel Investors Completes Sale of Hilton New Orleans St. Charles, Reinvests Proceeds in Share Repurchases

Sunstone Hotel Investors Inc. has announced the completion of its sale of the Hilton New Orleans St. Charles for $47 million, equating to approximately $187,000 per room. This transaction represents a 10.1x multiple on the hotel's 2024 Adjusted EBITDAre and an 8.7% cap rate on its Net Operating Income. The sale allows Sunstone to avoid necessary near-term renovations and reinvest the proceeds into share repurchases, enhancing shareholder value. Bryan Giglia, the CEO, expressed satisfaction with the sale, emphasizing the strategic repositioning of assets and the continued interest in the New Orleans market through the company's ownership of the JW Marriott.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. $Sunstone Hotel Investors Inc(SHO-I)$. published the original content used to generate this news brief via PR Newswire (Ref. ID: LA04703) on June 09, 2025, and is solely responsible for the information contained therein.

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While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. $Sunstone Hotel Investors Inc(SHO-I)$. published the original content used to generate this news brief via PR Newswire (Ref. ID: LA04703) on June 09, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PK","symbol_name":"Park Hotels & Resorts Inc.","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250609:nNDLJYVk7:1","article_id":"2542897943","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2542897943","pubTimestamp":1749468633,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Sunstone Hotel Investors Inc. has announced the completion of its sale of the Hilton New Orleans St. Charles for $47 million, equating to approximately $187,000 per room. 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