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Right on the heels of selling the 284-room Marriott Del Mar,Sunstone Hotel Investors has entered into an agreement to unload another San Diego property—the 257-room Hilton Del Mar—as part of a three-hotel portfolio sale. The dispositions of the four relatively small, highly levered hotels further Sunstone?s goals of improving portfolio quality and strengthening the balance sheet, according to CEO Ken Cruse, whom we snapped at the ALIS conference earlier this year. (The properties perform at more than 30% below the REIT's portfolio average in RevPAR and EBITDA.)
Related Topics: Sunstone Hotel Investors