$SHO
Sunstone Hotel Investors, Inc.

2023 Q4 Form 10-Q Financial Statement

#000155837023017934 Filed on November 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q4
Revenue $219.2M $247.7M $244.1M
YoY Change -10.21% 1.39% 40.4%
Cost Of Revenue $86.45M $94.90M $92.26M
YoY Change -6.3% 2.69% 37.26%
Gross Profit $132.8M $152.8M $151.9M
YoY Change -12.58% 0.59% 42.39%
Gross Profit Margin 60.57% 61.69% 62.21%
Selling, General & Admin $85.06M $11.15M $86.86M
YoY Change -2.08% -5.14% 10.0%
% of Gross Profit 64.06% 7.3% 57.19%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $29.14M $33.10M $32.38M
YoY Change -10.01% 4.31% -0.68%
% of Gross Profit 21.94% 21.66% 21.32%
Operating Expenses $114.2M $220.9M $119.3M
YoY Change -4.25% 3.04% 6.89%
Operating Profit $18.59M -$68.07M $32.63M
YoY Change -43.04% 9.01% -766.58%
Interest Expense -$16.77M $11.89M -$11.72M
YoY Change 43.11% 28.32% 62.71%
% of Operating Profit -90.21% -35.91%
Other Income/Expense, Net $4.137M $1.200M $476.0K
YoY Change 769.12% 344.44% 3561.54%
Pretax Income $129.8M $16.16M $17.95M
YoY Change 623.11% -19.99% -87.03%
Income Tax $2.799M $602.0K $485.0K
% Of Pretax Income 2.16% 3.73% 2.7%
Net Earnings $123.1M $15.56M $13.66M
YoY Change 801.19% -24.06% -90.1%
Net Earnings / Revenue 56.16% 6.28% 5.6%
Basic Earnings Per Share $0.06
Diluted Earnings Per Share $0.60 $0.06 $0.07
COMMON SHARES
Basic Shares Outstanding 205.4M 207.2M 210.4M
Diluted Shares Outstanding 205.8M

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $426.4M $113.8M $101.2M
YoY Change 321.25% -3.22% -15.99%
Cash & Equivalents $426.4M $113.8M $101.2M
Short-Term Investments
Other Short-Term Assets $67.30M $319.0M $70.65M
YoY Change -4.75% 393.6% -46.83%
Inventory
Prepaid Expenses
Receivables $31.21M $28.60M $42.09M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $524.9M $461.4M $214.0M
YoY Change 145.32% 102.4% -24.15%
LONG-TERM ASSETS
Property, Plant & Equipment $3.120M $3.311M $3.685M
YoY Change -15.33% -35.24% -37.67%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $23.26M $29.80M $7.867M
YoY Change 195.7% 233.15% -40.38%
Total Long-Term Assets $2.624B $2.627B $2.869B
YoY Change -8.52% -8.85% 3.98%
TOTAL ASSETS
Total Short-Term Assets $524.9M $461.4M $214.0M
Total Long-Term Assets $2.624B $2.627B $2.869B
Total Assets $3.149B $3.089B $3.083B
YoY Change 2.16% -0.69% 1.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $48.41M $60.90M $52.20M
YoY Change -7.26% 11.06% 42.89%
Accrued Expenses $6.346M $4.200M $34.37M
YoY Change -81.54% -86.84% 6.74%
Deferred Revenue $44.22M
YoY Change 31.03%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $222.0M
YoY Change 972.92%
Total Short-Term Liabilities $138.4M $159.7M $380.9M
YoY Change -63.67% -4.88% 116.71%
LONG-TERM LIABILITIES
Long-Term Debt $814.6M $814.7M $590.7M
YoY Change 37.91% 0.47% 0.32%
Other Long-Term Liabilities $29.75M $26.70M $11.96M
YoY Change 148.78% 178.85% 2.58%
Total Long-Term Liabilities $844.3M $841.4M $602.6M
YoY Change 40.11% 2.55% 0.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $138.4M $159.7M $380.9M
Total Long-Term Liabilities $844.3M $841.4M $602.6M
Total Liabilities $982.7M $1.001B $997.9M
YoY Change -1.52% -0.55% 24.53%
SHAREHOLDERS EQUITY
Retained Earnings $1.035B
YoY Change 9.21%
Common Stock $2.035M $2.056M $2.093M
YoY Change -2.77% -2.84% -4.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.167B $2.088B $2.085B
YoY Change
Total Liabilities & Shareholders Equity $3.149B $3.089B $3.083B
YoY Change 2.16% -0.69% 1.37%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q4
OPERATING ACTIVITIES
Net Income $123.1M $15.56M $13.66M
YoY Change 801.19% -24.06% -90.1%
Depreciation, Depletion And Amortization $29.14M $33.10M $32.38M
YoY Change -10.01% 4.31% -0.68%
Cash From Operating Activities $29.39M $61.70M $59.69M
YoY Change -50.76% 4.5% 198.94%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $318.3M -$11.00M -$31.34M
YoY Change -1115.78% -68.5% -118.47%
Cash From Investing Activities $318.3M -$11.00M -$31.34M
YoY Change -1115.78% -68.5% -1742.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -38.99M -29.20M -38.99M
YoY Change 0.02% 216.5% -51.73%
NET CHANGE
Cash From Operating Activities 29.39M 61.70M 59.69M
Cash From Investing Activities 318.3M -11.00M -31.34M
Cash From Financing Activities -38.99M -29.20M -38.99M
Net Change In Cash 308.7M 21.50M -10.64M
YoY Change -3002.7% 44.29% -81.94%
FREE CASH FLOW
Cash From Operating Activities $29.39M $61.70M $59.69M
Capital Expenditures $0.00 $0.00
Free Cash Flow $61.70M $59.69M
YoY Change 4.5% -68.21%

Facts In Submission

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DividendsCommonStockCash
14357000
CY2023Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
14042000
CY2023Q3 us-gaap Profit Loss
ProfitLoss
15558000
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2087685000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2239774000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
3701000
CY2022Q1 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
-3351000
CY2022Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
43465000
CY2022Q1 us-gaap Profit Loss
ProfitLoss
15123000
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2208009000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
2971000
CY2022Q2 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
-91000
CY2022Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
34515000
CY2022Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
5500000
CY2022Q2 sho Acquisition Of Noncontrolling Interest
AcquisitionOfNoncontrollingInterest
101348000
CY2022Q2 us-gaap Profit Loss
ProfitLoss
37692000
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2103445000
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
2350000
CY2022Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.05
CY2022Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
10610000
CY2022Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
8666000
CY2022Q3 us-gaap Profit Loss
ProfitLoss
20488000
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2103656000
us-gaap Profit Loss
ProfitLoss
79723000
us-gaap Profit Loss
ProfitLoss
73303000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
184000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
846000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
22946000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
9930000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-962000
us-gaap Increase Decrease In Derivative Assets And Liabilities
IncreaseDecreaseInDerivativeAssetsAndLiabilities
3348000
us-gaap Increase Decrease In Derivative Assets And Liabilities
IncreaseDecreaseInDerivativeAssetsAndLiabilities
2904000
us-gaap Depreciation
Depreciation
97540000
us-gaap Depreciation
Depreciation
93573000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
332000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
387000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1960000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1940000
us-gaap Share Based Compensation
ShareBasedCompensation
8263000
us-gaap Share Based Compensation
ShareBasedCompensation
8661000
us-gaap Insured Event Gain Loss
InsuredEventGainLoss
3722000
us-gaap Insured Event Gain Loss
InsuredEventGainLoss
4369000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-7477000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
16279000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
5804000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-5465000
us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
-3851000
us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
12109000
sho Increase Decrease In Operating Lease Right Of Use Assets And Liabilities Net
IncreaseDecreaseInOperatingLeaseRightOfUseAssetsAndLiabilitiesNet
-82000
sho Increase Decrease In Operating Lease Right Of Use Assets And Liabilities Net
IncreaseDecreaseInOperatingLeaseRightOfUseAssetsAndLiabilitiesNet
-1050000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
168742000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
149698000
us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
191291000
us-gaap Proceeds From Deposits On Real Estate Sales
ProceedsFromDepositsOnRealEstateSales
10000000
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
3722000
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
4369000
us-gaap Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
232506000
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
73944000
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
97539000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-60222000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-134385000
sho Payment For Acquisition Of Noncontrolling Interest
PaymentForAcquisitionOfNoncontrollingInterest
299000
sho Payment For Acquisition Of Noncontrolling Interest
PaymentForAcquisitionOfNoncontrollingInterest
101348000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
428000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
91000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
35523000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
86646000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3348000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3351000
us-gaap Proceeds From Unsecured Lines Of Credit
ProceedsFromUnsecuredLinesOfCredit
230000000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
230000000
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
225000000
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
243615000
us-gaap Repayments Of Debt
RepaymentsOfDebt
221554000
us-gaap Repayments Of Debt
RepaymentsOfDebt
38405000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2332000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
7404000
us-gaap Payments Of Dividends
PaymentsOfDividends
42246000
us-gaap Payments Of Dividends
PaymentsOfDividends
11059000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
5500000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-80730000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-10189000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
27790000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
5124000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
157206000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
162717000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
184996000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
167841000
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
113768000
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
117588000
CY2023Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
71228000
CY2022Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
50253000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
184996000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
167841000
us-gaap Interest Paid Net
InterestPaidNet
39013000
us-gaap Interest Paid Net
InterestPaidNet
24279000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-1272000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-218000
us-gaap Operating Lease Payments
OperatingLeasePayments
4150000
us-gaap Operating Lease Payments
OperatingLeasePayments
5080000
sho Increase Decrease In In Operating Lease Right Of Use Assets Net
IncreaseDecreaseInInOperatingLeaseRightOfUseAssetsNet
-3304000
sho Increase Decrease In In Operating Lease Right Of Use Assets Net
IncreaseDecreaseInInOperatingLeaseRightOfUseAssetsNet
-3020000
sho Increase Decrease In Operating Lease Liabilities Net
IncreaseDecreaseInOperatingLeaseLiabilitiesNet
-3386000
sho Increase Decrease In Operating Lease Liabilities Net
IncreaseDecreaseInOperatingLeaseLiabilitiesNet
-4070000
sho Increase Decrease In Operating Lease Right Of Use Assets And Liabilities Net
IncreaseDecreaseInOperatingLeaseRightOfUseAssetsAndLiabilitiesNet
-82000
sho Increase Decrease In Operating Lease Right Of Use Assets And Liabilities Net
IncreaseDecreaseInOperatingLeaseRightOfUseAssetsAndLiabilitiesNet
-1050000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
12029000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
17630000
us-gaap Escrow Deposits Related To Property Sales
EscrowDepositsRelatedToPropertySales
4000000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2163000
CY2022Q3 sho Assignment Of Finance Lease Right Of Use Asset In Connection With Disposition Of Hotel
AssignmentOfFinanceLeaseRightOfUseAssetInConnectionWithDispositionOfHotel
44712000
CY2022Q3 sho Assignment Of Finance Lease Obligation In Connection With Disposition Of Hotel
AssignmentOfFinanceLeaseObligationInConnectionWithDispositionOfHotel
15569000
CY2022Q3 sho Assignment Of Lease Right Of Use Asset In Connection With Disposition Of Hotel
AssignmentOfLeaseRightOfUseAssetInConnectionWithDispositionOfHotel
2275000
CY2022Q3 sho Lease Obligation Assigned
LeaseObligationAssigned
2609000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
352000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
361000
CY2023Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
17765000
CY2022Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
13961000
CY2023Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
15
CY2023Q3 sho Number Of Lodging Properties Held For Sale
NumberOfLodgingPropertiesHeldForSale
1
CY2023Q3 sho Number Of Real Estate Properties Held For Investment
NumberOfRealEstatePropertiesHeldForInvestment
14
CY2023Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
15
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
205782000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
211289000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
206553000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
213869000
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.06
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:10.1pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:24.5pt;margin:0pt;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-indent:24.5pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p>
CY2023Q3 us-gaap Profit Loss
ProfitLoss
15558000
CY2022Q3 us-gaap Profit Loss
ProfitLoss
20488000
us-gaap Profit Loss
ProfitLoss
79723000
us-gaap Profit Loss
ProfitLoss
73303000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3477000
CY2023Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3226000
CY2022Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3351000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
10762000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
10897000
CY2023Q3 us-gaap Dividends Share Based Compensation Cash
DividendsShareBasedCompensationCash
72000
CY2022Q3 us-gaap Dividends Share Based Compensation Cash
DividendsShareBasedCompensationCash
64000
us-gaap Dividends Share Based Compensation Cash
DividendsShareBasedCompensationCash
176000
us-gaap Dividends Share Based Compensation Cash
DividendsShareBasedCompensationCash
64000
CY2022Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
40000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
178000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
301000
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
12260000
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
17033000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
68607000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
58564000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
205570000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
211010000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
206257000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
213799000
CY2023Q3 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
212000
CY2022Q3 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
279000
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
296000
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
70000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.33
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.27
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.33
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.27
sho Number Of Hotels Impaired
NumberOfHotelsImpaired
0
CY2022Q3 sho Number Of Hotels Impaired
NumberOfHotelsImpaired
0
sho Number Of Hotels Impaired
NumberOfHotelsImpaired
0
CY2023Q3 sho Number Of Hotels Impaired
NumberOfHotelsImpaired
0
sho Leases Initial Maximum Term Not Recorded On Balance Sheet
LeasesInitialMaximumTermNotRecordedOnBalanceSheet
P12M
sho Leases Initial Minimum Term Recorded Right Of Use Assets
LeasesInitialMinimumTermRecordedRightOfUseAssets
P12M
sho Number Of Hotels With Operating Lease Right Of Use Asset Impairment
NumberOfHotelsWithOperatingLeaseRightOfUseAssetImpairment
0
CY2022Q3 sho Number Of Hotels With Operating Lease Right Of Use Asset Impairment
NumberOfHotelsWithOperatingLeaseRightOfUseAssetImpairment
0
sho Number Of Hotels With Operating Lease Right Of Use Asset Impairment
NumberOfHotelsWithOperatingLeaseRightOfUseAssetImpairment
0
CY2023Q3 sho Number Of Hotels With Operating Lease Right Of Use Asset Impairment
NumberOfHotelsWithOperatingLeaseRightOfUseAssetImpairment
0
CY2023Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
12362000
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
19751000
CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
47977000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
50219000
CY2022Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3000000.0
CY2023Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3000000.0
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
41900000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
25400000
CY2022Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
71689000
CY2023Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
3678871000
us-gaap Lease Cost
LeaseCost
9942000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2023Q3 us-gaap Land
Land
614112000
CY2022Q4 us-gaap Land
Land
672531000
CY2023Q3 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
2556852000
CY2022Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
2793771000
CY2023Q3 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
403362000
CY2022Q4 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
426189000
CY2023Q3 sho Finite Lived And Indefinite Lived Intangible Assets Gross
FiniteLivedAndIndefiniteLivedIntangibleAssetsGross
42187000
CY2022Q4 sho Finite Lived And Indefinite Lived Intangible Assets Gross
FiniteLivedAndIndefiniteLivedIntangibleAssetsGross
42187000
CY2023Q3 us-gaap Construction In Progress Gross
ConstructionInProgressGross
62358000
CY2022Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
4006367000
CY2023Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1098450000
CY2022Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1165439000
CY2023Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2580421000
CY2022Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2840928000
CY2023Q3 sho Percentage Of Debt Bearing Fixed Interest Rates
PercentageOfDebtBearingFixedInterestRates
0.512
CY2022Q4 sho Percentage Of Debt Bearing Fixed Interest Rates
PercentageOfDebtBearingFixedInterestRates
0.424
CY2023Q3 us-gaap Notes Payable
NotesPayable
819582000
CY2022Q4 us-gaap Notes Payable
NotesPayable
816136000
CY2023Q3 us-gaap Interest Rate Derivatives At Fair Value Net
InterestRateDerivativesAtFairValueNet
3616000
CY2022Q4 us-gaap Interest Rate Derivatives At Fair Value Net
InterestRateDerivativesAtFairValueNet
268000
CY2023Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
33106000
CY2022Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
27566000
us-gaap Lease Cost
LeaseCost
9258000
CY2023Q3 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
1469000
CY2022Q3 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
39000
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
3348000
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
2904000
CY2023Q3 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
11751000
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
6478000
CY2023Q3 us-gaap Inventory Gross
InventoryGross
8426000
CY2022Q4 us-gaap Inventory Gross
InventoryGross
7922000
CY2023Q3 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
3978000
CY2022Q4 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
5031000
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3311000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3685000
CY2023Q3 us-gaap Interest Rate Derivative Assets At Fair Value
InterestRateDerivativeAssetsAtFairValue
3616000
CY2022Q4 us-gaap Interest Rate Derivative Assets At Fair Value
InterestRateDerivativeAssetsAtFairValue
268000
CY2023Q3 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
648000
CY2022Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
2413000
CY2023Q3 us-gaap Indefinite Lived License Agreements
IndefiniteLivedLicenseAgreements
930000
CY2022Q4 us-gaap Indefinite Lived License Agreements
IndefiniteLivedLicenseAgreements
933000
CY2023Q3 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
446000
CY2022Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
836000
CY2023Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
4880000
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
3455000
CY2023Q3 us-gaap Notes And Loans Payable
NotesAndLoansPayable
814702000
CY2022Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
812681000
CY2023Q3 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
12623000
CY2022Q3 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
8719000
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
36299000
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
21252000
CY2023Q3 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
1469000
CY2022Q3 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
39000
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
3348000
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
2904000
CY2023Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
740000
CY2022Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
589000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1960000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1940000
CY2023Q3 us-gaap Interest Expense
InterestExpense
11894000
CY2022Q3 us-gaap Interest Expense
InterestExpense
9269000
us-gaap Interest Expense
InterestExpense
34911000
us-gaap Interest Expense
InterestExpense
20288000
us-gaap Variable Lease Cost
VariableLeaseCost
5100000
CY2023Q3 sho Operating Leases Income Statement Sublease Revenues
OperatingLeasesIncomeStatementSubleaseRevenues
296000
sho Operating Leases Income Statement Sublease Revenues
OperatingLeasesIncomeStatementSubleaseRevenues
890000
CY2023Q3 us-gaap Lease Cost
LeaseCost
3545000
CY2022Q3 us-gaap Lease Cost
LeaseCost
3566000
CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
47977000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
50219000
CY2023Q3 us-gaap Accrual For Taxes Other Than Income Taxes Current And Noncurrent
AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent
12976000
CY2022Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current And Noncurrent
AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent
7500000
CY2023Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
4202000
CY2022Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
6915000
CY2023Q3 us-gaap Deferred Rent Credit
DeferredRentCredit
3029000
CY2022Q4 us-gaap Deferred Rent Credit
DeferredRentCredit
3981000
CY2023Q3 sho Management Fees Payable
ManagementFeesPayable
566000
CY2022Q4 sho Management Fees Payable
ManagementFeesPayable
1584000
CY2023Q3 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
5792000
CY2022Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
8234000
CY2023Q3 us-gaap Other Liabilities
OtherLiabilities
74542000
CY2022Q4 us-gaap Other Liabilities
OtherLiabilities
78433000
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
13884000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
15025000
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
17884000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
19012000
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P32Y
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.053
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2200000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
117000
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1360000
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1325000
us-gaap Operating Lease Cost
OperatingLeaseCost
4068000
us-gaap Operating Lease Cost
OperatingLeaseCost
4041000
CY2023Q3 us-gaap Variable Lease Cost
VariableLeaseCost
2481000
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
2241000
us-gaap Variable Lease Cost
VariableLeaseCost
6764000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Method Used
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsMethodUsed
Monte Carlo simulation model
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.380
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0418
CY2023Q3 us-gaap Marketing Expense
MarketingExpense
4025000
CY2022Q3 us-gaap Marketing Expense
MarketingExpense
3877000
us-gaap Marketing Expense
MarketingExpense
11842000
us-gaap Marketing Expense
MarketingExpense
10564000
CY2023Q3 us-gaap Royalty Expense
RoyaltyExpense
253000
CY2022Q3 us-gaap Royalty Expense
RoyaltyExpense
268000
us-gaap Royalty Expense
RoyaltyExpense
914000
us-gaap Royalty Expense
RoyaltyExpense
865000
CY2023Q3 us-gaap Costs Of Franchised Outlets
CostsOfFranchisedOutlets
4278000
CY2022Q3 us-gaap Costs Of Franchised Outlets
CostsOfFranchisedOutlets
4145000
us-gaap Costs Of Franchised Outlets
CostsOfFranchisedOutlets
12756000
us-gaap Costs Of Franchised Outlets
CostsOfFranchisedOutlets
11429000
CY2023Q3 sho Number Of Real Estate Properties Held For Investment
NumberOfRealEstatePropertiesHeldForInvestment
14
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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