Sunstone Hotel Investors Inc was incorporated in Maryland on June 28, 2004. It is a real estate investment trust. The Company is engaged in acquiring, owning, asset managing and renovating hotel properties. The Company has interests in 29 hotels. The 29 hotels are comprised of 13,845 rooms, located in 13 states and in Washington, D.C. It operates in one segment, hotel ownership. 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 brands such as Marriott, Hilton, Hyatt, Fairmont and Sheraton. Its portfolio consists of upper upscale hotels in the United States. Its 29 hotels include two luxury hotels, 27 upscale or upper upscale hotels. The Company's hotels are operated by third-party managers pursuant to long-term management agreements with TRS Lessee or its subsidiaries. Its third-party managers include: subsidiaries of Marriott International, Inc. or Marriott Hotel Services, Inc. (collectively "Marriott"), managers of 11 of the Company's 29 hotels; Interstate Hotels & Resorts, Inc. ("IHR"), manager of six of the Company's 29 hotels; Highgate Hotels L.P. and an affiliate ("Highgate"), manager of three of the Company's 29 hotels; Crestline Hotels & Resorts ("Crestline"), Hilton Worldwide ("Hilton") and Hyatt Corporation ("Hyatt"), each a manager of two of the Company's 29 hotels; and Davidson Hotels & Resorts ("Davidson"),Fairmont Hotels & Resorts (U.S.) ("Fairmont") and HEI Hotels & Resorts ("HEI"), each a manager of one of the Company's 29 hotels. 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 is complied 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.
Benzinga is a fast-growing, dynamic and innovative financial media outlet that empowers investors with high-quality, unique content.