Sunstone Hotel Investors (SHO) Tops Q4 FFO by 1c

Sunstone Hotel Investors (NYSE: SHO) reported Q4 FFO of $0.15, $0.01 better than the analyst estimate of $0.14. Revenue for the quarter came in at $243.5 million versus the consensus estimate of $235.06 million.

Ken Cruse, Chief Executive Officer, stated, "Our first quarter revenues and profitability exceeded initial expectations driven by improving group demand and ongoing strength in business travel. During the quarter our future group bookings accelerated. Our 2014 group revenues on the books are now outpacing prior year levels by approximately 6.5%. Additionally, continued property-level innovation and solid expense controls helped to drive a 210 basis point increase in our same-store hotel EBITDA margins in the first quarter. Our outlook for the remainder of 2014 and beyond has improved."

For earnings history and earnings-related data on Sunstone Hotel Investors (SHO) click here.

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