Sunstone Hotel Investors Enters Agreement To Acquire Hyatt Regency San Antonio Riverwalk Hotel For Gross Purchase Price Of $230M; Expects To Close Acquisition In Late April And Expects Acquisition To Contribute $12M-$13M Of Hotel EBITDA And ~$0.06 OF Adj. FFO During Ownership Period In 2024
Portfolio Pulse from Benzinga Newsdesk
Sunstone Hotel Investors has agreed to acquire the Hyatt Regency San Antonio Riverwalk Hotel for $230M, expecting to close in late April. The acquisition is anticipated to contribute $12M-$13M in hotel EBITDA and approximately $0.06 in adjusted FFO during the 2024 ownership period.
April 10, 2024 | 8:13 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Sunstone Hotel Investors is set to acquire the Hyatt Regency San Antonio Riverwalk Hotel for $230M, with the deal expected to close in late April. This acquisition is projected to enhance the company's EBITDA by $12M-$13M and add approximately $0.06 to its adjusted FFO in 2024.
The acquisition of the Hyatt Regency San Antonio Riverwalk Hotel represents a significant investment for Sunstone Hotel Investors, directly impacting its financial performance. The expected increase in EBITDA and adjusted FFO during the 2024 ownership period indicates a positive financial outlook, likely leading to a favorable investor perception and potential stock price appreciation in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100