Sunstone Hotel Investors, Inc.

For the period ended Dec 31, 2025. Filed Feb 27, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 27, 2026

SHO$12.78+0.9%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Schedule III—Real Estate and Accumulated Depreciation

DECEMBER 31, 2025


· · · · · · · · · · · Cost Capitalized · · Gross Amount at · · · · · · · · · ·
· · · · · Initial costs · · Subsequent to Acquisition · · December 31, 2025 (1) · · · · · · · · · ·
· · · · · · · · Bldg. and · · · · · Bldg. and · · · · · Bldg. and · · · · · Accum. · · Date · · Depr.
· · Encmbr. (2) · · Land · · Impr. · · Land · · Impr. · · Land · · Impr. · · Totals · · Depr. · · Acq./Constr. · · Life
Andaz Miami Beach	$—	$87,791	$140,725	$(1,537)	$96,811	$86,254	$237,536	$323,790	$16,428	6/1/2022	5-40
Four Seasons Resort Napa Valley	—	23,514	128,645	—	9,665	23,514	138,310	161,824	16,331	12/1/2021	5-40
Hilton San Diego Bayfront	—	—	424,992	—	37,559	—	462,551	462,551	128,303	4/15/2011	5-57
Hyatt Regency San Antonio Riverwalk	—	31,772	178,393	(560)	2,775	31,212	181,168	212,380	8,067	4/23/2024	5-40
Hyatt Regency San Francisco	—	116,140	131,430	—	109,903	116,140	241,333	357,473	121,009	12/2/2013	5-35
JW Marriott New Orleans	—	—	73,420	15,147	52,475	15,147	125,895	141,042	51,522	2/15/2011	5-35
Marriott Boston Long Wharf	—	51,598	170,238	—	86,277	51,598	256,515	308,113	146,341	3/23/2007	5-35
Marriott Long Beach Downtown	—	10,437	37,300	—	56,114	10,437	93,414	103,851	43,558	6/23/2005	5-35
Montage Healdsburg	—	40,326	194,589	108	9,383	40,434	203,972	244,406	28,532	4/22/2021	5-40
Oceans Edge Resort & Marina	—	92,510	74,361	3,784	8,365	96,294	82,726	179,020	20,246	7/25/2017	5-40
Renaissance Orlando at SeaWorld®	—	—	119,733	30,717	79,722	30,717	199,455	230,172	119,555	6/23/2005	5-35
The Bidwell Marriott Portland	—	5,341	20,705	—	28,555	5,341	49,260	54,601	28,116	8/11/2000	5-35
The Westin Washington, DC Downtown	—	14,563	132,800	—	147,641	14,563	280,441	295,004	134,532	7/13/2005	5-35
Wailea Beach Resort	—	119,707	194,137	—	163,208	119,707	357,345	477,052	121,822	7/14/2014	5-40
	$—	$593,699	$2,021,468	$47,659	$888,453	$641,358	$2,909,921	$3,551,279	$984,362

(1)	The aggregate cost of properties for federal income tax purposes is approximately $3.6 billion (unaudited) at December 31, 2025.

(2)	Hotel is owned by an entity whose interests are pledged to the Company’s credit facilities.

The following is a reconciliation of real estate assets and accumulated depreciation (in thousands):


· · Hotel Properties ·
· · 2025 · · 2024 · · 2023 ·

Reconciliation of land and buildings and improvements:
Balance at the beginning of the year	$3,470,248	$3,201,390	$3,466,302
Activity during year:
Acquisitions, net of key money proceeds (1)	(6,411)	210,165	—
Improvements	161,475	58,693	92,437
Dispositions	(74,033)	—	(357,349)
Balance at the end of the year	$3,551,279	$3,470,248	$3,201,390
Reconciliation of accumulated depreciation:
Balance at the beginning of the year	$904,098	$811,045	$835,961
Depreciation	99,839	93,053	96,771
Dispositions	(19,575)	—	(121,687)
Balance at the end of the year	$984,362	$904,098	$811,045

(1)	Acquisitions are net of key money proceeds received from two of the Company’s third-party hotel managers.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.