SUNSTONE HOTEL INVESTORS REPORTS RESULTS OF OPERATIONS FOR

SAN CLEMENTE, CA – May 7, 2009 – Sunstone Hotel Investors, Inc. (the “Company”) (NYSE: SHO)
today announced results of operations for the first quarter ended March 31, 2009.
First Quarter 2009 Operational Statistics:
• Total revenue was $188.6 million.
• Total portfolio RevPAR was $96.18.
• Income available to common stockholders was $0.9 million.
• Income available to common stockholders per diluted share was $0.02.
• Adjusted EBITDA was $38.9 million.
• Adjusted FFO available to common stockholders was $8.7 million.
• Adjusted FFO available to common stockholders per diluted share was $0.15.
• Total hotel operating profit margin was 22.8%.