Sunstone Hotel Investors RevPAR Growth To Drop 125-150 Basis Points In 2024 Due To Labor Disruptions, Adjusted EBITDAre Decrease By $11M-$13M, Adjusted FFO Down $0.06 Per Share; $6M-$7M Loss From Q3 Disruptions
Portfolio Pulse from Benzinga Newsdesk
Sunstone Hotel Investors anticipates a decline in RevPAR growth by 125-150 basis points in 2024 due to labor disruptions. Adjusted EBITDAre is expected to decrease by $11M-$13M, and Adjusted FFO per share will drop by $0.06. The company will update its 2024 outlook in the upcoming earnings release.
October 10, 2024 | 8:21 pm
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Sunstone Hotel Investors projects a decrease in RevPAR growth and financial metrics due to labor disruptions. This includes a $11M-$13M drop in Adjusted EBITDAre and a $0.06 decrease in Adjusted FFO per share.
The labor disruptions have directly impacted Sunstone Hotel Investors' financial outlook, leading to a projected decrease in key financial metrics such as RevPAR growth, Adjusted EBITDAre, and Adjusted FFO per share. This is likely to negatively affect the stock price in the short term.
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