Sunstone Hotel Investors is a real estate investment trust that owns and operates a portfolio of premium upper upscale and luxury hotels located in convention, urban, and resort destinations across multiple states. The company acquires high-quality hotel properties operating under nationally recognized brands and leases them to a taxable REIT subsidiary, which in turn engages third-party operators under long-term management agreements, generating revenue through base rent and variable rent tied to occupancy and departmental revenues. The company pursues an active ownership strategy focused on capital investment, repositioning, and opportunistic asset sales to redeploy capital into higher-growth opportunities, while maintaining financial flexibility and disciplined capital allocation across economic cycles.