Sunstone Hotel Investors Strikes Agreement To Sell Hyatt Regency San Francisco To Blackstone Real Estate Affiliated Funds For $279M
Benzinga Newsdesk 4 months ago
M&A
Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE:SHO) today announced that it has entered into a definitive agreement to sell the 821-room Hyatt Regency San Francisco (the
Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE:SHO) today announced that it has entered into a definitive agreement to sell the 821-room Hyatt Regency San Francisco (the "Hotel") to funds affiliated with Blackstone Real Estate for a gross sale price of $279 million, or approximately $340,000 per key. The sale price represents a 21.4x multiple on Hotel Adjusted EBITDAre and a 3.5% cap rate on Hotel Net Operating Income for the trailing twelve-month period ending May 31, 2026.