SAN CLEMENTE, CA—Sunstone Hotel Investors has sold 13 hotels in eight states for $144 million in what reportedly is its biggest sale since going public two years ago. The lodging REIT sold some of its smaller hotels—150 rooms or fewer— to New York-based Trinity Hotel Investors. According to The Orange County Register, Sunstone plans to buy larger, full-service hotels with the money, and will be looking at major markets. The REIT is focusing on upscale hotels because they are more insulated from competition and offer good opportunities for growth, noted the report. Sunstone now owns 50 hotels.
