Short answer
Sunstone Hotel Investors, Inc. (SHO) filed an 8-K current report with the SEC on June 23, 2026 reporting Item 7.01 (Regulation FD Disclosure), Item EX-99.1 (Exhibit EX-99.1). Hyatt Regency San Francisco sale to Blackstone affiliates for $279 million gross consideration.
Sunstone Hotel Investors, Inc. 8-K event analysis
AI summary of each reported item and its exhibits
Item 7.01 · Regulation FD Disclosure
- Hyatt Regency San Francisco sale to Blackstone affiliates for $279 million gross consideration
- Implied valuation approximately $340,000 per key across 821 rooms
- Expected closing late July or early August 2026, subject to customary conditions
- Proceeds would reduce Sunstone’s exposure to the San Francisco hotel market
Item EX-99.1 · Exhibit EX-99.1
- Definitive agreement to sell 821-room Hyatt Regency San Francisco to Blackstone-affiliated funds for $279 million
- Valuation implies $340,000 per key, 21.4x trailing Hotel Adjusted EBITDAre, and 3.5% cap rate
- Trailing-twelve-month Hotel Adjusted EBITDAre $13.0 million and Hotel Net Operating Income $9.9 million through May 31, 2026
- Nearly $70 million of proceeds already redeployed into discounted stock repurchases, including $40.5 million common and $27.8 million preferred
- Closing expected late July or early August, with full-year outlook impact expected in early-August earnings release
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