IRVINE, Calif.,
March 7, 2022
/PRNewswire/ -- Sunstone Hotel Investors, Inc. (the "Company" or
"Sunstone") (NYSE: SHO), the owner of Long-Term Relevant Real
Estate® in the hospitality sector, today announced that its Board
of Directors (the "Board") has appointed Bryan Giglia, current Chief Financial Officer,
as the Company's Chief Executive Officer, effective immediately.
Additionally, the Board appointed Robert
Springer, Chief Investment Officer, to the additional role
of President. Aaron Reyes, Senior
Vice President of Finance and Treasurer, has been appointed Chief
Financial Officer, replacing Mr. Giglia. Douglas M. Pasquale, Chairman and Interim Chief
Executive Officer, will assume the role of Executive Chairman
through August 2022.
Mr. Pasquale said, "After an extensive and thorough search
process, including internal and external candidates, the Board
selected Bryan as CEO and Robert as President to lead Sunstone as
we pursue superior long-term per share NAV growth. This was based
on their decades of hotel industry experience, deep knowledge and
understanding of the Company, ability to immediately build on our
recent success of recycling capital, and capability to execute on
property-level value creation opportunities. My focus as Executive
Chairman will be to provide guidance to Bryan, Robert and Aaron as
they transition into their roles."
Mr. Giglia said, "I am deeply honored by the Board's decision to
appoint me Chief Executive Officer. The entire team and I are
focused on building upon our recent successful transactions and
actively recycling capital to create shareholder value. On behalf
of our shareholders, we will work tirelessly to ensure Sunstone
continues to execute its strategy, prioritizing the best interests
of our shareholders and maximizing the value of our portfolio. As
we emerge from the pandemic, our portfolio is among the best
positioned to capitalize on the recovery in corporate and group
travel demand and our balance sheet provides ample capacity to grow
per share earnings and NAV."
Mr. Springer said, "I am excited by the opportunity to continue
my ten-plus year relationship with Bryan as we embark on a
partnership to lead Sunstone. We will work closely together to
capitalize on the imbedded value within our existing portfolio as
we actively recycle past investments into new growth and value
creation opportunities."
About Sunstone Hotel Investors
Sunstone Hotel Investors, Inc. is a lodging real estate
investment trust ("REIT") that as of the date of this release has
interests in 16 hotels comprised of 8,125 rooms, the majority of
which are operated under nationally recognized brands. Sunstone's
business is to acquire, own, asset manage and renovate or
reposition hotels considered to be Long-Term Relevant Real Estate®.
For further information, please visit Sunstone's website at
www.sunstonehotels.com.
For Additional Information
Aaron Reyes
Sunstone Hotel Investors, Inc.
(949) 382-3018
View original
content:https://www.prnewswire.com/news-releases/sunstone-hotel-investors-board-of-directors-announces-senior-management-appointments-301496424.html
SOURCE Sunstone Hotel Investors, Inc.