Sunstone Hotel Investors, Inc. (NYSE:SHO) Q1 2022 Earnings Conference Call May 5, 2022 12:00 PM ET

Company Participants

Aaron Reyes - Chief Financial Officer

Doug Pasquale - Executive Chairman

Bryan Giglia - Chief Executive Officer

Robert Springer - President & Chief Investment Officer

Conference Call Participants

Thomas Allen - Morgan Stanley

David Katz - Jefferies

Michael Bellisario - Baird

Anthony Powell - Barclays

Chris Darling - Green Street

Bill Crow - Raymond James

Michael Bilerman - Citi

Floris Van Dijkum - Compass Point

Operator

Good morning, ladies and gentlemen, and thank you for standing by. Welcome to the Sunstone Hotel Investors First Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. Later, we will conduct the question-and-answer session, and instructions will be given at that time. I would like to remind everyone that, this conference is being recorded today May 5, 2022 at 12 P.M. Eastern.

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. By now, you should have all received a copy of our first quarter earnings release and supplemental, which were made available yesterday. If you do not yet have a copy, you can access them on our website.

Before we begin, I would like to remind everyone that, this call contains forward-looking statements that are subject to risks and uncertainties, and 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 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.

With us on the call today are Doug Pasquale, Executive Chairman; Bryan Giglia, Chief Executive Officer; Robert Springer, President and Chief Investment Officer; and Christopher Ostapovicz, Chief Operating Officer.

On today's call, Doug will start us off with some commentary on the industry and our company. Bryan will then discuss the current operating environment and recent trends in our business, and provide information on our pending value-add acquisition of the Confidante Miami Beach that we announced yesterday afternoon.

Finally, I'll provide a summary of our current liquidity position and a recap of our first quarter earnings results. After our remarks, the team will be available to answer your questions.