Sunstone Hotel Investors, Inc. (NYSE:SHO) Q1 2024 Earnings Call Transcript

When you look at our strategy, one of the tenants of our strategy is returning capital to shareholders and we have done that through share repurchase. We continue to do that through right, sizing our dividend as our cash flow and earnings normalize and that’s something that we also didn’t deploy all of the proceeds from Boston Park Plaza. We still have some remaining which may go into hotel acquisition. If we find something attractive, it could go into share repurchase also and so again, it’s keeping that balance. And at the same time, selling Boston was a large asset and so we want to make sure that we also provide the right ballast and balance to the portfolio to make sure that we don’t have any concentrations in any markets that could impact things.

So at the end of the day, it’s taking all of those things into account. It’s being balanced in how we deploy, as we have done over the last several years and it should be what you would continue to expect from us going forward.

Operator: That concludes our Q&A session. I will now turn the conference back over to Bryan Giglia for closing remarks.

Bryan Giglia: I want to thank everyone for the interest in the company. We look forward to meeting with many of you over the coming months at conferences and meetings, and look forward to providing you with updates and views on how our investment, and especially how the progress on Andaz is coming, and how we look forward to having that displacement headwind, like our other investments, turn into a tailwind in the coming months. Thank you.

Operator: Ladies and gentlemen, that concludes today’s call. Thank you all for joining. You may now disconnect.