SUNSTONE HOTEL INVESTORS REPORTS RESULTS FOR SECOND QUARTER 2009

SAN CLEMENTE, CA –August 5, 2009 – Sunstone Hotel Investors, Inc. (the “Company”) (NYSE: SHO) today announced
results for the second quarter ended June 30, 2009.
Second Quarter 2009 Operational Results:
• Total revenue was $186.8 million.
• Total RevPAR was $101.03.
• Loss attributable to common stockholders was $135.4 million.
• Loss attributable to common stockholders per diluted share was $2.23.
• Adjusted EBITDA was $44.8 million.
• Adjusted FFO available to common stockholders was $13.7 million.
• Adjusted FFO available to common stockholders per diluted share was $0.22.
• Hotel operating margin was 25.7%.

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