Sunstone Hotel Investors Inc was incorporated in Maryland on June 28, 2004. It is a real estate investment trust. The Company, through its 100% controlling interest in Sunstone Hotel Partnership, LLC, of which the Company is the sole managing member, and the subsidiaries of the Operating Partnership, including Sunstone Hotel TRS Lessee, Inc. and its subsidiaries, is currently engaged in acquiring, owning, asset managing and renovating hotel properties. As of December 31, 2013, it had interests in 29 hotels. The 29 hotels are comprised of 13,744 rooms, located in 12 states and in Washington, D.C. Currently, the Company operates in one segment, operations held for investment. The Company's main business is to acquire, own, asset manage and renovate full-service hotel properties in the United States. All but one (the Boston Park Plaza) of the 29 hotels are operated under nationally recognized brands such as Marriott, Hilton, Hyatt, Fairmont and Sheraton. Its portfolio consists of upper upscale hotels in the United States. As of December 31, 2013, its 29 hotels include two luxury hotels, 26 upper upscale hotels and one upscale hotel. The Company's hotels are operated by third-party managers pursuant to long-term management agreements with our TRS Lessee or its subsidiaries. As of December 31, 2013, its third-party managers included: subsidiaries of Marriott International, Inc. or Marriott Hotel Services, Inc., managers of 10 of the Company's 29 hotels; a subsidiary of Interstate Hotels & Resorts, Inc., manager of six of the Company's 29 hotels; Highgate Hotels L.P. and an affiliate, manager of four of the Company's 29 hotels; Davidson Hotels & Resorts, Hilton Worldwide and Hyatt Corporation, each a manager of two of the Company's 29 hotels; and Crestline Hotels & Resorts, Dimension Development Company and Fairmont Hotels & Resorts (U.S.), each a manager of one of the Company's 29 hotels. In addition, the Company owns BuyEfficient, LLC, an electronic purchasing platform that allows members to procure food, operating supplies, furniture, fixtures and equipment. It competes with other hotels for guests in each of their markets. It also competes with institutional pension funds, private equity investors, other REITs and various local, regional and national owners, including franchisors. Its properties must comply with various laws and regulations, including Title III of the Americans with Disabilities Act to the extent that such properties are 'public accommodations' as defined by the ADA.