Sunstone Hotel Investors, Inc. Plans Public Offering of Preferred Stock

Sunstone Hotel Investors, Inc. SHO announced today that it intends to issue shares of Cumulative Redeemable Preferred Stock subject to market conditions, over the near-term. The Company expects to contribute the net proceeds from the contemplated offering to Sunstone Hotel Partnership, LLC, its wholly owned subsidiar, in exchange for additional membership units in the Operating Partnership. The Operating Partnership will subsequently use those net proceeds primarily for growth capital expenditures, future acquisitions and other general corporate purposes, including working capital.