Sunstone Hotel Investors Reports Results for Fourth Quarter 2010

Sunstone Hotel Investors, Inc. SHO today announced results for the fourth quarter ended December 31, 2010. Fourth Quarter 2010 Operational Results (1): * Total revenue was $184.3 million. * Comparable Portfolio RevPAR was $102.44. * Income available to common stockholders was $30.4 million. * Income available to common stockholders per diluted share was $0.28. * Adjusted EBITDA was $44.6 million. * Pro forma Adjusted EBITDA was $43.3 million. * Adjusted FFO available to common stockholders was $21.0 million. * Adjusted FFO available to common stockholders per diluted share was $0.20. * Comparable Portfolio hotel EBITDA margin was 25.7%. Ken Cruse, President, stated, "We are pleased to report strong results for the fourth quarter 2010. Our operators focused on efficiency as they translated higher top line revenues into impressive bottom line performance. Lodging demand continues to build as we move into 2011. Sunstone is well positioned to capitalize on growth opportunities, as evidenced by the two high quality hotel acquisitions we've completed thus far in 2011. Our balance sheet is strong - we ended 2010 with unrestricted cash of $278 million, an undrawn corporate credit facility and a well staggered debt maturity schedule. Our objectives are clear, our strategy is simple and we are aligned in our focus on delivering value to our stockholders."