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SAN CLEMENTE, Calif., Sept. 18, 1998 - Sunstone Hotel
Properties, Inc. (SHP), the affiliated Lessee of Sunstone Hotel Investors,
Inc. (NYSE: SSI), a real estate investment trust (REIT), today announced
the appointment of Douglas C. Sutten as Senior Vice President and Chief
Financial Officer.
Mr. Sutten joins Sunstone following a 13-year career with Westin Hotels Resorts, Inc., where he served as Vice President, Finance. "Doug brings Sunstone a wealth of experience developed over his many years at Westin," said Robert A. Alter, Chairman of Sunstone Hotel Properties, Inc. "His hospitality experience and ability to drive improved performance in hotels will be a great plus for our company." In his new position, Mr. Sutten will report to Randy Hulce, President Chief Executive Officer of SHP, and will be responsible for all of the company's financial operations and strategic planning. Mr. Sutten joined Westin Hotel Company in 1985 and was promoted to Vice
President, Finance, in 1989. Prior to joining Westin, he served as a Senior
Manager for Price Waterhouse. A graduate of the University of Washington
with a Masters in Business Administration, Mr. Sutten is also a
San Clemente, Calif.-based Sunstone Hotel Properties, Inc. manages 57
hotels comprising 10,215 rooms under various flags, including Marriott,
Hilton, Sheraton, Holiday Inn, Hawthorn Suites, Residence Inn, Courtyard
by Marriott, Hampton Inn and Best Western, as well as several independents.
Sunstone Hotel Investors, Inc. is a leading self-administered equity real
estate investment trust that owns and invests in luxury, upscale and mid-price
hotels located in the western United States. The Company's growth strategy
is to maximize shareholder value by (i) acquiring underperforming hotels
within the western United States that are in attractive locations with
significant barriers to entry and (ii) improving such hotels' financial
performance by renovating, redeveloping, rebranding and repositioning the
hotels together with the
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results and the timing of certain events could differ materially from those set forth in the forward-looking statements. For information on Sunstone Hotel Investors' Dividend Reinvestment Program, please call 888-261-6776. For investor information on Sunstone Hotel Investors via facsimile at no cost, simply call 1-800-PRO-INFO and dial client code SSI. |
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