Sunstone Hotel Investors (SHO) 2013年年度报告「NYSE」.pdf

1、staying the course STAYING THE COURSE /Sunstone Hotel Investors,Inc.2013 Annual Report2013 annual reportHyatt Regency San FransiscoAcquired December 2013802 Roomsstaying the courseOur mission is simply to be the premier hotel owner.To some this may seem exceedingly lofty,but at Sunstone it defines w

2、ho we are and crys-talizes the long-term goal we have committed to accomplish.Hyatt Regency San FranciscoLobbyC r e a t i n g s h a r e h o l d e r va l u e Our 2013 strategy focused on creating shareholder value through improvements in the quality and scale of our institutional-quality portfolio an

3、d gradually deleveraging our balance sheet.Our strategic initiatives in 2013 delivered a 4.5%growth in Adjusted 28 Hotel Comparable Portfolio RevPAR,a 5%increase in Pro Forma 29 Hotel Comparable Corporate Adjusted EBITDA and a 26.1%total shareholder return.We also continued to reduce our pro rata de

4、bt and preferred equity to total capitalization,which declined by 16.7 percentage points from 54.1%to 37.4%.sunstone hotel investors,inc./2013 AnnuAl rePort/03Hyatt Regency San FranciscoBuilding Exteriorsunstone hotel investors,inc./2013 AnnuAl rePort/05We completed three hotel acquisitions during 2

5、013:Hilton New Orleans St.Charles(May 2013),Boston Park Plaza(July 2013)and Hyatt Regency San Francisco(December 2013).Each acquisition increased the quality and scale of our portfolio while also advancing our corporate objectives to improve financial flexibil-ity and reduce leverage.The acquisition

6、 of the Hyatt Regency San Francisco was highly consis-tent with our external growth strategy.29Courtyard by Marriott Los AngelesEmbassy Suites La JollaFairmont Newport BeachHilton San Diego BayfrontHyatt Regency Newport BeachHyatt Regency San Francisco Renaissance Long BeachRenaissance Los Angeles A