Sunstone Plans to Buy $1 Billion of Hotels This Year After Prices Decline | bloomberg.com

Sunstone Hotel Investors Inc., the real estate investment trust that’s forfeited 10 properties in the past two years, wants to buy $1 billion of assets in 2011 to expand its portfolio of upscale business hotels. The company is looking to buy high-end hotels of 400 rooms or larger in major cities on the U.S. East and West coasts, said Kenneth Cruse, Sunstone’s president and chief financial officer.