Sunstone Hotel Investors, Inc. (SHO) Q4 2022 Earnings Call Transcript

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