Sunstone Hotel Investors, Inc. Announces the Acquisition of Land Underlying its Renaissance Orlando Resort at SeaWorld

SAN CLEMENTE, CA/PRNewswire-FirstCall/ -- Sunstone Hotel Investors, Inc. (NYSE:SHO) has acquired 32.6 acres of land underlying its Renaissance Orlando Resort at SeaWorld, (top left photo) for a gross purchase price of $30.4 million.

Prior to the acquisition by Sunstone, the land had been leased from a third-party. Ground rent under the lease is projected to be approximately $2.8 million in 2008. Sunstone acquired the land with available cash.

Robert A. Alter, (top right photo) Chairman and Chief Executive Officer stated, "We are pleased that we were able to execute this transaction as it represents a unique opportunity to consolidate the fee interest in a core hotel. This acquisition advances our strategy of creating stockholder value by redeploying capital into our existing portfolio."

Sunstone Hotel Investors, Inc. is a lodging real estate investment trust ("REIT") that, as of the date hereof, has interests in 45 hotels comprised of 15,349 rooms primarily in the upper-upscale segment operated under nationally recognized brands, such as Marriott, Hilton, Hyatt, Fairmont and Starwood.

For further information, please visit the Company's website at http://www.sunstonehotels.com/.
CONTACT: Bryan Giglia, Vice President, Corporate Finance of SunstoneHotel Investors, Inc., +1-949-369-4236

Web site: http://www.sunstonehotels.com/