Sunstone Hotel Investors (SHO) 2018年年度报告「NYSE」.pdf

1、2018 Annual Report2018 Annual ReportSUNSTONE HOTEL INVESTORS,INC.2018 ANNUAL REPORTCaliforniaCourtyard by Marriott Los Angeles,187Embassy Suites La Jolla,340Hilton San Diego Bayfront,1,190Hyatt Regency San Francisco,804Renaissance Long Beach,374Renaissance Los Angeles Airport,502OregonMarriott Portl

2、and,249HawaiiWailea Beach Resort,547LouisianaHilton New Orleans St.Charles,252JW Marriott New Orleans,501IllinoisEmbassy Suites Chicago,368Hilton Garden Inn Chicago Downtown/Magnificent Mile,361Hyatt Centric Chicago Magnificent Mile,419FloridaOceans Edge Resort&Marina,Key West,175Renaissance Orlando

3、 at SeaWorld,781MassachusettsBoston Park Plaza,1,060Marriott Boston Long Wharf,415New YorkHilton Times Square,New York City,478Renaissance Westchester,West Harrison,348Maryland/Washington DCRenaissance Harborplace,Baltimore,622Renaissance Washington DC,807Property Locations and Room Counts11FEB20160

4、0460395Before reviewing our 2018 results and providing anour Wailea Beach Resort and Hyatt Embarcaderoupdate on the current environment,I would like tomay change in form over time yet will remain highlyshare with you our strategy,which is regularlycoveted destinations for generations to come andrevi

5、ewed,challenged and approved by our Board ofthat the value of the assets will eventually be aDirectors.multiple of our investment in the asset today.This is our StrategyWe refrain from owning or acquiring commodity orpedestrian hotels in secondary and tertiary markets,We create long-term stakeholder

6、 value through thedespite their siren song of higher initial cash flowactive ownership of Long-Term Relevant Real Estate?yields.We also avoid hotels that are subject towithin the hospitality sector.ground leases.Since most ground leases willeventually revert to another party,and the long-termoptiona