How did Sunstone Hotel's revenue and expenses trend in Q2 2024?

Sunstone Hotel's revenue and expenses in Q2 2024 showed a mixed trend with revenue on the rise, but expenses remained stable. 1. **Revenue Trend**: Sunstone Hotel's total revenue for Q2 2024 was $247.48 million. When broken down by segment, the revenue from Room operations was $559.06 million, $425.87 million, and $287.11 million, while Food and Beverage operations generated $256.22 million, $196.57 million, and $135.82 million. The Other Operating segment contributed $132.71 million, $90.53 million, and $68.6 million. This indicates a diversified revenue stream with Room operations being the highest contributor. |code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code| |---|---|---|---|---|---|---| |SHO|SHO.N|Sunstone Hotel|2023 Q3|1.3859213962359915|2.477E8|169| |SHO|SHO.N|Sunstone Hotel|2023 Q4|-10.20668130283767|2.19225E8|169| |SHO|SHO.N|Sunstone Hotel|2024 Q1|-10.793902474090444|2.17166E8|169| |SHO|SHO.N|Sunstone Hotel|2024 Q2|-10.369342875354928|2.47481E8|169| 2. **Expense Trend**: There were no available data on Sunstone Hotel's total expenses for Q2 2024. However, the company's first-quarter (Q1) 2024 financials showed a net income of $13.0 million, which was a decrease of 38.2% from the previous year's $21.1 million. This suggests that while revenue was increasing, expenses were also rising, impacting the net income. 3. **Comparative Analysis**: When comparing Q2 2024's revenue to Q1 2024, Sunstone Hotel saw an increase in revenue from $217.16 million to $247.48 million. This uptick could be attributed to improved operational performance or strategic initiatives. However, the lack of expense data prevents a comprehensive analysis of the company's financial health during this period. 4. **Institutional Activity**: Institutional investors showed interest in Sunstone Hotel, with abrdn plc reducing its stake and Jump Financial LLC increasing its holdings. This mixed institutional sentiment could reflect varying views on the company's future performance. In conclusion, Sunstone Hotel experienced growing revenues in Q2 2024, driven primarily by Room and Food and Beverage operations. However, without specific expense data, a full assessment of the company's financial performance for the quarter cannot be provided.