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Sunstone Hotel Investors SHO Hotel Ownership — Pre Opening Costs

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Other financials

Income statement

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Revenue$259.7M+11.0%
Net income$18.6M+253%
EPS (diluted)$0.08+700%

Balance sheet

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Cash & equivalents$91.1M+26.0%
Total debt$949.5M+11.3%
Total equity$1.9B-8.3%
Total assets$3.0B-2.8%

Cash flow

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Operating cash flow$45.4M+41.9%
CapEx$31.0M+10.0%
Free cash flow$14.4M+276%

Valuation

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Market cap$2.19B-10.0%
Enterprise value$3.05B-4.2%
P/E57.8×-10.7×
P/S2.2×-0.4×

Profitability

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Operating margin-147%
Net margin3.8%0.0pp
FCF margin9.1%

Returns & leverage

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Return on equity1.9%+0.2pp
Debt / equity0.5×+0.1×
Current ratio1.5×+0.2×

Where this comes from

Reported directly by Sunstone Hotel Investors in its filing.

Tagged under the XBRL concept us-gaap:PreOpeningCosts.

The official record: Sunstone Hotel Investors’s 10-K, filed February 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Sunstone Hotel Investors's hotel ownership — pre opening costs?
Sunstone Hotel Investors (SHO) reported hotel ownership — pre opening costs of -$1.62M in Q4 2025.
How has Sunstone Hotel Investors's hotel ownership — pre opening costs changed year-over-year?
Sunstone Hotel Investors's hotel ownership — pre opening costs decreased by 145.8% year-over-year, from -$658.25K to -$1.62M.
What does hotel ownership — pre opening costs mean?
These are expenses incurred in preparation for the launch or renovation of a hotel property before it begins generating revenue. High levels of these costs indicate active investment in portfolio expansion or significant asset repositioning.