Sunstone Hotel Investors, Inc. (NYSE:SHO) Q4 2022 Earnings Conference Call February 22, 2023 11:00 AM ET
Company Participants
Aaron Reyes - CFO & SVP
Bryan Giglia - CEO
Robert Springer - President & CIO
Conference Call Participants
Smedes Rose - Citigroup
Michael Bellisario - Robert W. Baird & Co.
Duane Pfennigwerth - Evercore ISI
David Katz - Jefferies
Gregory Miller - Truist Securities
Anthony Powell - Barclays Bank
Floris Van Dijkum - Compass Point Research & Trading
Operator
Good morning, ladies and gentlemen, and thank you for standing by. Welcome to the Sunstone Hotel Investors Fourth Quarter 2022 Earnings Call. [Operator Instructions]. I would like to remind everyone that this conference is being recorded today, February 22, 2023, at 11:00 a.m. Eastern Time.
I will now turn the presentation over to Mr. Aaron Reyes, Chief Financial Officer. Please go ahead, sir.
Aaron Reyes
Thank you, operator, and good morning, everyone. Before we begin, I would like to remind everyone that this call contains forward-looking statements that are subject to risks and uncertainties, including those described in our prospectuses, 10-Qs, 10-Ks and other filings with the SEC, which could cause actual results to differ materially from those projected. We caution you to consider these factors in evaluating our forward-looking statements.
We also note that this call may contain non-GAAP financial information, including adjusted EBITDAre, adjusted FFO and property level adjusted EBITDAre. We are providing that information as a supplement to information prepared in accordance with generally accepted accounting principles.
On today's call, references to our comparable portfolio will mean our 13-hotel portfolio, which includes The Confidante Miami Beach, but excludes Montage Healdsburg and 4 Seasons Resort Napa Valley. Additional details on our fourth quarter performance have been provided in our earnings release and supplemental, which are available on our website.
With us on the call today are Bryan Giglia, Chief Executive Officer; and Robert Springer, President and Chief Investment Officer. Bryan will start us off with some highlights from last year, followed by some commentary on our fourth quarter operations and recent trends. Afterwards, Robert will discuss our transaction activity and other recent capital investments. And finally, I will provide a summary of our current liquidity position, recap our fourth quarter and full year '22 earnings results and provide some additional details on our outlook for 2023. After our remarks, the team will be available to answer your questions.
With that, I would like to turn the call over to Bryan. Please go ahead.