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Sunstone Hotel Investors, Inc. Announces the Sale of 13-Hotel Portfolio for $144.1 Million

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February 25, 2014

Sunstone Hotel Investors, Inc. Announces the Sale of 13-Hotel Portfolio for $144.1 Million

Hospitality News: SunstoneSunstone Hotel Investors, Inc. (NYSE: SHO) announced today that it has completed the sale of 13 hotels (the “Portfolio”) for gross proceeds of $144.1 million, or 8.4x projected 2006 EBITDA for the Portfolio (reconciliation to net income below), to affiliates of Trinity Hotel Investors, LLC. The Portfolio consists of the following properties:

    Property                  Location                             # of Rooms
    Holiday Inn               Boise, ID                                265
    Holiday Inn               Craig, CO                                152
    Holiday Inn               Price, UT                                151
    Holiday Inn               Renton, WA                               226
    Holiday Inn               San Diego (Mission Valley), CA           175
    Crowne Plaza              Englewood, NJ                            194
    Crowne Plaza              Williamsburg, VA                         303
    Hawthorn Suites           Kent, WA                                 152
    Marriott                  Ogden, UT                                292
    Marriott                  Pueblo, CO                               164
    Courtyard                 Lynnwood, WA                             164
    Courtyard                 Fresno, CA                               116
    Courtyard                 Santa Fe, NM                             213

    Total Portfolio                                                  2,567

Robert A. Alter, Chief Executive Officer, stated, “We are pleased to announce the sale of this portfolio of 13 non-strategic assets. By divesting 21% of our properties that only account for approximately 5.3% of EBITDA for the six months ended June 30, 2006, we will be able to redirect management resources toward optimizing our larger, higher growth assets that have a more meaningful impact on the Company. This transaction reduces the geographic distribution of our portfolio from 19 states to 14 states. Since October 2004, we have sold 19 non-strategic hotels and have acquired 13 high quality hotels. We plan to re-invest the proceeds from this sale into hotels that fit a similar profile to that of our other recent acquisitions.”

The Company continues to upgrade its portfolio through actively recycling capital. Since 2001, the Company and its predecessors have sold 45 hotels with an average of 177 rooms per hotel and have acquired 32 hotels with an average of 367 rooms per hotel. Since 1999, the Company and its predecessors have sold a total of 69 hotels.

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