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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100