SHO on NYSE

Sunstone Hotel Investors, Inc.

American hotels and motels company, incorporated in Maryland. Summary from the record

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Last updated Oct 19, 2026.

Overview

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  • TickerSHO on NYSE1
  • IndustryHotels & Motels1
  • HeadquartersAliso Viejo, California1
  • Incorporated inMD2
  • Business address15 Enterprise, Suite 200, Aliso Viejo, Ca 926562
  • Filer categoryLarge accelerated filer2

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The “Company,” “we,” “our,” and “us” refer to Sunstone Hotel Investors, Inc., a Maryland corporation, and one or more of our subsidiaries, including Sunstone Hotel Partnership, LLC, or the Operating Partnership, and Sunstone Hotel TRS Lessee, Inc., or the TRS Lessee, and, as the context may require, Sunstone Hotel Investors only or the Operating Partnership only.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

2.6%Net margin4
6.0%Revenue growth, 20254
1.3%Return on equity4
0.47×Debt to equity4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Occupancy brought in 61% of the revenue Sunstone Hotel Investors, Inc. broke down this way in fiscal 2025.

  1. Occupancy$582.7M461%up 4% from 2024
  2. Food and Beverage$278.7M429%up 9% from 2024
  3. Hotel, Other$98.8M410%up 9% from 2024
Products and services by year
Products and services202320242025
Occupancy$619.3M$559.1M$582.7M
Food and Beverage$277.5M$256.2M$278.7M
Hotel, Other$89.7M$90.5M$98.8M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs97¢$935.3M
  • Income tax0¢$216.0K
  • Profit3¢$24.6M

Out of $960.1M in revenue.4

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid46¢$86.4M
  • Share buybacks54¢$102.6M

Out of $181.8M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.4

Financial statements

Revenue56784$960.1M in 2025−14% since 2019
0$500.0M$1.0B$1.5B2019: $1.1B$1.1B20192020: $267.9M$267.9M2020−76%2021: $509.1M$509.1M2021+90%2022: $912.1M$912.1M2022+79%2023: $986.5M$986.5M2023+8%2024: $905.8M$905.8M2024−8%2025: $960.1M$960.1M2025+6%
Net income56784$24.6M in 2025−83% since 2019
-$600.0M-$400.0M-$200.0M0$200.0M$400.0M2019: $142.8M$142.8M20192020: -$410.5M-$410.5M20202021: $33.0M$33.0M20212022: $90.8M$90.8M2022+175%2023: $206.7M$206.7M2023+128%2024: $43.3M$43.3M2024−79%2025: $24.6M$24.6M2025−43%

Every line of the income statement as filed: the last 3 fiscal years, latest first.4

Period ending2025-12-312024-12-312023-12-31
Total revenues$960.1M$905.8M$986.5M
Advertising and promotion$54.3M$52.2M$52.0M
Repairs and maintenance$39.7M$35.9M$38.3M
Utilities$28.5M$26.6M$27.6M
Franchise costs$18.5M$18.4M$16.9M
Property tax, ground lease and insurance$76.5M$77.2M$78.8M
Other property-level expenses$117.3M$110.8M$120.2M
Corporate overhead$31.6M$29.1M$31.4M
Depreciation and amortization$134.5M$124.5M$127.1M
Total operating expenses$884.4M$827.2M$867.8M
Interest and other income$11.0M$13.2M$10.5M
Interest expense-$53.0M-$50.1M-$51.7M
(Loss) gain on sale of assets, net-$8.8M$457.0K$123.8M
(Loss) gain on extinguishment of debt-$180.0K$59.0K$9.9M
Income before income taxes$24.8M$42.2M$211.3M
Income tax (provision) benefit , net-$216.0K$1.1M-$4.6M
Net Income$24.6M$43.3M$206.7M
Preferred stock dividends, net of gain on repurchases-$16.1M-$15.2M-$14.0M
Income attributable to common stockholders$8.5M$28.0M$192.7M
Basic income attributable to common stockholders per common share (in dollars per share)$0.04$0.14$0.93
Diluted income attributable to common stockholders per common share (in dollars per share)$0.04$0.14$0.93
Basic weighted average common shares outstanding (in shares)193.6M shares201.7M shares205.6M shares
Diluted weighted average common shares outstanding (in shares)194.3M shares202.6M shares205.9M shares

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Leadership

Who has led Sunstone Hotel Investors, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Robert A. Alter2006–2008
  2. Steven R. Goldman2007–2008
  3. Arthur L. Buser2009–2010
  4. Kenneth Edward Cruse2011–2014
  5. John Arabia V.2015–2021
  6. Douglas M. Pasquale2021
  7. Bryan Albert Giglia2022–now

Chair

  1. Robert A. Alter2007–2011

President

  1. Jon D. Kline2006–2007
  2. Steven R. Goldman2008
  3. Arthur L. Buser2008–2010
  4. Kenneth Edward Cruse2011–2012
  5. John Arabia V.2013–2021
  6. Robert C. Springer2022–now

Chief financial officer

  1. Jon D. Kline2006
  2. Kenneth Edward Cruse2007–2011
  3. John Arabia V.2011–2012
  4. Bryan Albert Giglia2013–2022
  5. Aaron Robert Reyes2022–now

Chief operating officer

  1. Christopher Gerard Ostapovicz2021–2024
2010201520202025
Board members and other officers (28)

Timeline

  1. Mar 8, 2022New chief executive Bryan Albert Giglia becomes CEO12
  2. Sep 13, 2021New chief executive Douglas M. Pasquale becomes CEO13
  3. Feb 18, 2015New chief executive John Arabia V. becomes CEO14
  4. Aug 8, 2011New chief executive Kenneth Edward Cruse becomes CEO15
  5. Jan 22, 2009New chief executive Arthur L. Buser becomes CEO16
  6. Mar 28, 2007New chief executive Steven R. Goldman becomes CEO17
  7. Feb 10, 2006New chief executive Robert A. Alter becomes CEO18

Filings

233 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 41 major events, 125 insider forms, 19 large holders, 28 other. The latest 20:

  1. Aug 11, 20268-K EDGAR
  2. Aug 10, 2026424B5 EDGAR
  3. Aug 6, 202610-Q EDGAR
  4. Aug 6, 20268-K EDGAR
  5. Aug 6, 2026SCHEDULE 13G/A EDGAR
  6. Aug 3, 2026SCHEDULE 13G/A EDGAR
  7. Jun 24, 2026144 EDGAR
  8. Jun 24, 20264 EDGAR
  9. Jun 23, 20268-K EDGAR
  10. Jun 22, 2026144 EDGAR
  11. Jun 1, 20268-K EDGAR
  12. May 14, 2026SCHEDULE 13G EDGAR
  13. May 5, 20264 EDGAR
  14. May 5, 20264 EDGAR
  15. May 5, 20264 EDGAR
  16. May 5, 20264 EDGAR
  17. May 5, 20264 EDGAR
  18. May 5, 20264 EDGAR
  19. May 5, 202610-Q EDGAR
  20. May 5, 20268-K EDGAR

The 233 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

4 open-market trades by officers, directors and large owners since October 2021: 2 buys and 2 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 24, 2026Springer Robert CPRESIDENT AND CIOSale89,631$11.62$1.0MForm 4
Jun 3, 2022Springer Robert CPRESIDENT AND CIOSale1$12.35$12Form 4
Dec 15, 2021PASQUALE DOUGLAS MDirectorBuy9,000$10.63$95.7KForm 4
Dec 13, 2021PASQUALE DOUGLAS MDirectorBuy1,765$11.00$19.4KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.35,116,958$402.1M0.0%+2,131,345
Vanguard Portfolio Management LLC19,735,550$226.0M0.0%+323,511
State Street Corp10,740,243$123.9M0.0%−66,522
Blackstone Inc.8,580,000$98.2M0.3%−65,000
Vanguard Capital Management LLC8,358,012$95.7M0.0%−202,820
Bank Of America Corp /de/6,207,364$71.1M0.0%−3,892,174
Geode Capital Management, LLC5,195,704$59.5M0.0%+137,447
Woodline Partners LP4,624,593$53.0M0.2%+1,076,418
Prudential Financial Inc4,532,827$51.9M0.1%−100,722
Nuveen, LLC4,271,276$48.9M0.0%+3,121,338
Charles Schwab Investment Management Inc4,214,590$48.3M0.0%−64,054
Citadel Advisors LLC4,122,371$47.2M0.0%+1,659,824
Jpmorgan Chase & Co3,797,012$44.4M0.0%+208,909
Goldman Sachs Group Inc3,729,729$42.7M0.0%+2,562,023
Qube Research & Technologies Ltd3,115,099$35.7M0.0%+3,046,960
Adage Capital Partners Gp, L.l.c.3,100,000$35.5M0.0%No change
Legal & General Group Plc2,891,965$33.1M0.0%+13,565
Northern Trust Corp2,776,507$31.8M0.0%+137,638
Arrowstreet Capital, Limited Partnership2,654,502$30.4M0.0%+1,895,517
Cbre Investment Management Listed Real Assets LLC2,648,664$30.3M0.4%−1,313,040
Dimensional Fund Advisors LP2,561,666$29.3M0.0%−29,573
Morgan Stanley2,386,927$27.3M0.0%+985,288
Tributary Capital Management, LLC1,718,319$19.7M1.6%−51,006
William Blair Investment Management, LLC1,464,572$16.8M0.1%−391,137
Bank of New York Mellon Corp1,422,541$16.3M0.0%+818

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jul 12, 2023Daniel S. GoldmanDemocratic, HouseSale$1,001 - $15,000+57.9%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

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