Schedule III-Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2023

Schedule III-Real Estate and Accumulated Depreciation

SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure

SUNSTONE HOTEL INVESTORS, INC.

SCHEDULE III—REAL ESTATE AND ACCUMULATED DEPRECIATION

DECEMBER 31, 2023

(In thousands)

								Cost Capitalized				Gross Amount at
				Initial costs				Subsequent to Acquisition				December 31, 2023 (1)
						Bldg. and				Bldg. and				Bldg. and				Accum.		Date	Depr.
	Encmbr.			Land		Impr.		Land		Impr.		Land		Impr.		Totals		Depr.		Acq./Constr.	Life
Four Seasons Resort Napa Valley	$	—	(2)	$	23,514	$	128,645	$	—	$	8,107	$	23,514	$	136,752	$	160,266	$	7,828	12/1/2021	5-40
Hilton New Orleans St. Charles		—	(2)		3,698		53,578		—		15,985		3,698		69,563		73,261		16,584	5/1/2013	5-35
Hilton San Diego Bayfront		—	(2)		—		424,992		—		32,910		—		457,902		457,902		109,357	4/15/2011	5-57
Hyatt Regency San Francisco		—	(2)		116,140		131,430		—		107,702		116,140		239,132		355,272		95,447	12/2/2013	5-35
JW Marriott New Orleans		74,050			—		73,420		15,147		42,282		15,147		115,702		130,849		42,098	2/15/2011	5-35
Marriott Boston Long Wharf		—	(2)		51,598		170,238		—		78,268		51,598		248,506		300,104		128,612	3/23/2007	5-35
Montage Healdsburg		—	(2)		40,326		194,589		108		5,671		40,434		200,260		240,694		16,063	4/22/2021	5-40
Oceans Edge Resort & Marina		—	(2)		92,510		74,361		2,515		7,970		95,025		82,331		177,356		15,044	7/25/2017	5-40
Renaissance Long Beach		—	(2)		10,437		37,300		—		28,153		10,437		65,453		75,890		36,518	6/23/2005	5-35
Renaissance Orlando at SeaWorld ®		—	(2)		—		119,733		30,717		72,312		30,717		192,045		222,762		104,818	6/23/2005	5-35
The Bidwell Marriott Portland		—	(2)		5,341		20,705		—		27,785		5,341		48,490		53,831		23,869	8/11/2000	5-35
The Confidante Miami Beach		—	(2)		87,791		140,725		—		632		87,791		141,357		229,148		5,652	6/1/2022	3-40
The Westin Washington, DC Downtown		—	(2)		14,563		132,800		—		137,570		14,563		270,370		284,933		112,541	7/13/2005	5-35
Wailea Beach Resort		—	(2)		119,707		194,137		—		125,278		119,707		319,415		439,122		96,614	7/14/2014	5-40
	$	74,050		$	565,625	$	1,896,653	$	48,487	$	690,625	$	614,112	$	2,587,278	$	3,201,390	$	811,045

(1) The aggregate cost of properties for federal income tax purposes is approximately $3.6 billion (unaudited) at December 31, 2023.

(2) Hotel is pledged as collateral by the Company’s credit facility. As of December 31, 2023, the Company has no outstanding indebtedness under its credit facility.

The following is a reconciliation of real estate assets and accumulated depreciation (in thousands):

	Hotel Properties
	2023		2022		2021
Reconciliation of land and buildings and improvements:
Balance at the beginning of the year	$	3,466,302	$	3,334,153	$	3,094,962
Activity during year:
Acquisitions		—		229,030		387,074
Improvements		92,437		76,230		36,884
Impairment losses		—		—		(3,264)
Changes in reporting presentation (1)		—		—		(53,068)
Dispositions		(357,349)		(173,111)		(128,435)
Balance at the end of the year	$	3,201,390	$	3,466,302	$	3,334,153
Reconciliation of accumulated depreciation:
Balance at the beginning of the year	$	835,961	$	799,641	$	772,289
Depreciation		96,771		95,495		96,508
Impairment losses		—		—		(579)
Changes in reporting presentation (1)		—		—		(24,144)
Dispositions		(121,687)		(59,175)		(44,433)
Balance at the end of the year	$	811,045	$	835,961	$	799,641

(1) Changes in reporting presentation in 2021 include the net assets for the Hyatt Centric Chicago Magnificent Mile, which the Company classified as held for sale as of December 31, 2021 due to its sale in February 2022.