Brief: Sunstone Hotel Investors To Acquire Hyatt Regency San Antonio Riverwalk

Sunstone Hotel Investors

10/04/2024 22:13

April 10 (Reuters) - Sunstone Hotel Investors Inc
 SHO.N :
    * SUNSTONE HOTEL INVESTORS TO ACQUIRE HYATT REGENCY SAN
ANTONIO
RIVERWALK
    * SUNSTONE HOTEL INVESTORS INC - SUNSTONE IS ACQUIRING HOTEL
FOR A
GROSS PURCHASE PRICE OF $230 MILLION.
    * SUNSTONE HOTEL INVESTORS: HYATT TO CONTINUE TO MANAGE
HOTEL
UNDER HYATT REGENCY BRAND, TO CONTRIBUTE ABOUT $8 MILLION OF KEY
MONEY AS PART OF DEAL
    * SUNSTONE HOTEL INVESTORS:DEAL TO BE FUNDED FROM CASH ON
HAND
USING PORTION OF SALE PROCEEDS FROM PREVIOUSLY COMPLETED
DISPOSITION OF BOSTON PARK PLAZA
    * SUNSTONE HOTEL INVESTORS - EXPECTS HOTEL TO CONTRIBUTE
$12-$13
MILLION OF HOTEL EBITDA DURING CO'S OWNERSHIP PERIOD IN 2024
    * SUNSTONE HOTEL INVESTORS - EXPECTS HOTEL TO CONTRIBUTE
ABOUT
$0.06 OF ADJUSTED FFO PER DILUTED SHAREDURING CO'S OWNERSHIP
PERIOD IN 2024

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