An unknown buyer acquired RP/HH Park Plaza, Limited Partnership from Sunstone Hotel Investors, Inc. for approximately $370 million.
October 25, 2023
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An unknown buyer acquired RP/HH Park Plaza, Limited Partnership from Sunstone Hotel Investors, Inc. (NYSE:SHO) for approximately $370 million on October 26, 2023. Sale price is $350,000 per key. The Boston Park Plaza was considered held for sale as of September 30, 2023.
An unknown buyer completed the acquisition of RP/HH Park Plaza, Limited Partnership from Sunstone Hotel Investors, Inc. (NYSE:SHO) on October 26, 2023.
Sunstone Hotel Investors, Inc. is a real estate investment trust. The Company owns approximately 14 hotels, comprised of 6,675 rooms, located in six states and in Washington, DC. The Companyâs portfolio consists of luxury hotels located in convention, resort destinations and urban markets. It is the owner of Long-Term Relevant Real Estate (LTRR) in the lodging industry, specifically hotels in urban and resort destination locations. The Company's hotels are operated by third-party managers under long-term management agreements with TRS Lessee or its subsidiaries. It is operated by third-party managers under long-term management agreements with the TRS Lessee or its subsidiaries. Its third-party managers include subsidiaries of Marriott International, Inc.; managers of six of the Companyâs hotels; Hyatt Hotels Corporation, manager of two of its hotels; and Four Seasons Hotels Limited, Highgate Hotels L.P. and an affiliate, Hilton Worldwide, and Interstate Hotels & Resorts, Inc.
SUNSTONE HOTEL INVESTORS, INC. 
