Sunstone Hotel Investors Inc.: The San Clemente...
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Sunstone Hotel Investors Inc.: The San Clemente real estate investment trust reported net income of $5.6 million, or 71 cents a share, for 1996, 17% higher than the $4.8 million, or 76 cents a share, recorded for 1995. Revenue was up 62% to $15.1 million from $9.3 million. For the fourth quarter, net income more than doubled to $1.5 million, or 13 cents a share, from $711,000, or 11 cents a share, a year ago. Revenue rose to $4.4 million from $1.9 million.
The company acquired 13 hotels during 1996, giving it a total of 26 hotels.
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