Sunstone Hotel Investors Inc
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
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FY2023 · Filed Feb 23, 2024
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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Schedule III—Real Estate and Accumulated Depreciation
DECEMBER 31, 2023
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · · · · · · · · · · Cost Capitalized · · Gross Amount at · · · · · · · · · · | ||||||||||||||||||||||||||||||||
| · · · · · Initial costs · · Subsequent to Acquisition · · December 31, 2023 (1) · · · · · · · · · · | ||||||||||||||||||||||||||||||||
| · · · · · Bldg. and · · · Bldg. and · · · Bldg. and · · · Accum. · Date · Depr. | ||||||||||||||||||||||||||||||||
| · · Encmbr. · · Land · · Impr. · · Land · · Impr. · · Land · · Impr. · · Totals · · Depr. · · Acq./Constr. · · Life | ||||||||||||||||||||||||||||||||
| Four Seasons Resort Napa Valley | | $— | (2) | $23,514 | | $128,645 | | $— | | $8,107 | | $23,514 | | $136,752 | | $160,266 | | $7,828 | 12/1/2021 | 5-40 | | |||||||||||
| Hilton New Orleans St. Charles | | — | (2) | 3,698 | | 53,578 | | — | | 15,985 | | 3,698 | | 69,563 | | 73,261 | | 16,584 | 5/1/2013 | 5-35 | | |||||||||||
| Hilton San Diego Bayfront | | — | (2) | — | | 424,992 | | — | | 32,910 | | — | | 457,902 | | 457,902 | | 109,357 | 4/15/2011 | 5-57 | | |||||||||||
| Hyatt Regency San Francisco | | — | (2) | 116,140 | | 131,430 | | — | | 107,702 | | 116,140 | | 239,132 | | 355,272 | | 95,447 | 12/2/2013 | 5-35 | | |||||||||||
| JW Marriott New Orleans | | 74,050 | | — | | 73,420 | | 15,147 | | 42,282 | | 15,147 | | 115,702 | | 130,849 | | 42,098 | 2/15/2011 | 5-35 | | |||||||||||
| Marriott Boston Long Wharf | | — | (2) | 51,598 | | 170,238 | | — | | 78,268 | | 51,598 | | 248,506 | | 300,104 | | 128,612 | 3/23/2007 | 5-35 | | |||||||||||
| Montage Healdsburg | | | — | (2) | | 40,326 | | | 194,589 | | | 108 | | | 5,671 | | | 40,434 | | | 200,260 | | | 240,694 | | | 16,063 | | 4/22/2021 | | 5-40 | |
| Oceans Edge Resort & Marina | | | — | (2) | | 92,510 | | | 74,361 | | | 2,515 | | | 7,970 | | | 95,025 | | | 82,331 | | | 177,356 | | | 15,044 | | 7/25/2017 | | 5-40 | |
| Renaissance Long Beach | | | — | (2) | 10,437 | | 37,300 | | — | | 28,153 | | 10,437 | | 65,453 | | 75,890 | | 36,518 | 6/23/2005 | 5-35 | | ||||||||||
| Renaissance Orlando at SeaWorld ® | | — | (2) | — | | 119,733 | | 30,717 | | 72,312 | | 30,717 | | 192,045 | | 222,762 | | 104,818 | 6/23/2005 | 5-35 | | |||||||||||
| The Bidwell Marriott Portland | | | — | (2) | 5,341 | | 20,705 | | — | | 27,785 | | 5,341 | | 48,490 | | 53,831 | | 23,869 | 8/11/2000 | 5-35 | | ||||||||||
| The Confidante Miami Beach | | | — | (2) | | 87,791 | | | 140,725 | | | — | | | 632 | | | 87,791 | | | 141,357 | | | 229,148 | | | 5,652 | | 6/1/2022 | | 3-40 | |
| The Westin Washington, DC Downtown | | — | (2) | 14,563 | | 132,800 | | — | | 137,570 | | 14,563 | | 270,370 | | 284,933 | | 112,541 | 7/13/2005 | 5-35 | | |||||||||||
| Wailea Beach Resort | | | — | (2) | | 119,707 | | | 194,137 | | | — | | | 125,278 | | | 119,707 | | | 319,415 | | | 439,122 | | | 96,614 | | 7/14/2014 | | 5-40 | |
| | | $74,050 | | $565,625 | | $1,896,653 | | $48,487 | | $690,625 | | $614,112 | | $2,587,278 | | $3,201,390 | | $811,045 | | | | | | |||||||||
| (1) | The aggregate cost of properties for federal income tax purposes is approximately $3.6 billion (unaudited) at December 31, 2023. |
| (2) | Hotel is pledged as collateral by the Company’s credit facility. As of December 31, 2023, the Company has no outstanding indebtedness under its credit facility. |
The following is a reconciliation of real estate assets and accumulated depreciation (in thousands):
| | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|
| · · Hotel Properties · | ||||||||||
| · 2023 · 2022 · 2021 | ||||||||||
| | | | | | | | | | | |
| Reconciliation of land and buildings and improvements: | | | | | | | | | | |
| Balance at the beginning of the year | | $3,466,302 | | $3,334,153 | | $3,094,962 | | |||
| Activity during year: | | | | | | | | | | |
| Acquisitions | | — | | 229,030 | | 387,074 | | |||
| Improvements | | 92,437 | | 76,230 | | 36,884 | | |||
| Impairment losses | | | — | | | — | | | (3,264) | |
| Changes in reporting presentation (1) | | | — | | | — | | | (53,068) | |
| Dispositions | | (357,349) | | (173,111) | | (128,435) | | |||
| Balance at the end of the year | | $3,201,390 | | $3,466,302 | | $3,334,153 | | |||
| Reconciliation of accumulated depreciation: | | | | | | | | | | |
| Balance at the beginning of the year | | $835,961 | | $799,641 | | $772,289 | | |||
| Depreciation | | 96,771 | | 95,495 | | 96,508 | | |||
| Impairment losses | | | — | | | — | | | (579) | |
| Changes in reporting presentation (1) | | | — | | | — | | | (24,144) | |
| Dispositions | | (121,687) | | (59,175) | | (44,433) | | |||
| Balance at the end of the year | | $811,045 | | $835,961 | | $799,641 | | |||
| (1) | Changes in reporting presentation in 2021 include the net assets for the Hyatt Centric Chicago Magnificent Mile, which the Company classified as held for sale as of December 31, 2021 due to its sale in February 2022. |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.