Sunstone Hotel Investors, Inc. (SHO) FY2025 10-K Annual Report

Filed: Feb 27, 2026
Real Estate
Hotels & MotelsSEC EDGAR

Sunstone Hotel Investors, Inc. (SHO) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 27, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

Sunstone Hotel Investors, Inc. FY2025 10-K Analysis

Business Overview

  • Core business: REIT investing in hotel properties, focusing on value-add through capital investment, repositioning, asset management, and leasing to a TRS for qualifying REIT income
  • Portfolio size steady at 14 hotels as of Dec 31, 2025, managed by multiple major third-party operators including Marriott (6 hotels) and Hyatt (3 hotels)
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Management Discussion & Analysis

  • Revenue $960.1M, up 6.0% YoY: room $582.7M (+4.2%), food & beverage $278.7M (+8.8%), other operating $98.8M (+9.1%)
  • Operating expenses $884.4M up 6.9%, operating margin approx. 7.9% vs 8.7% in 2024 (calculated: (960.1-884.4)/960.1 vs (905.8-827.2)/905.8)
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Sunstone Hotel Investors, Inc. FY2025 Key Financial Metrics
XBRL

Revenue

$960M

+6.0% YoY

Net Income

$8M

-70.4% YoY

Net Margin

0.9%

-221bp YoY

ROE

0.4%

-90bp YoY

Total Assets

$3.0B

-2.5% YoY

EPS (Diluted)

$0.04

-71.4% YoY

Operating Cash Flow

$182M

+6.7% YoY

Source: XBRL data from Sunstone Hotel Investors, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.

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