Sunstone Hotel Investors (SHO): $12.07
Market Cap: $2.42 B
This week, instead of focusing on the only announced merger between Cross Country (CCRN) and Aya Healthcare, we’re highlighting a potential opportunity in the acquisition of hotel REIT Sunstone Hotel Investors.
At the start of the week, Bloomberg reported that Trinity Investments expressed interest in acquiring Sunstone Hotel Investors. The news sent the REIT’s shares surging by 10.12%, despite reports that the two companies are not currently in active discussions. According to the report, Trinity was considering an offer of approximately $13 per share for California-based Sunstone, which was trading at $10.77 per share before the news broke.
Sunstone, led by CEO Bryan Giglia, is a lodging REIT that owns, manages, and renovates 19 hotels with 9,997 rooms. Its portfolio includes prestigious properties such as Montage Healdsburg in California, Wailea Beach Resort in Hawaii, Four Seasons Napa Valley, and the Confidante Miami Beach, which is set to reopen as Andaz Miami Beach. The REIT operates hotels under brands like Marriott, Hilton, and Hyatt.