San Clemente-based Sunstone Hotel Investors Inc. has wrapped up the last piece of a six-hotel buy designed to expand the company to the East.
Sunstone said Thursday it acquired the remaining 75% stake in the sixth hotel, a Renaissance hotel in Washington, D.C.
Last month, Sunstone bought five Renaissance hotels plus a 25% stake in the Washington, D.C., one for $420 million.
Sunstone paid $100 million for the Washington, D.C., hotel.
Sunstone bought all of the hotels from Hong Kong’s CTF Holdings Ltd., ending a dispute between CTF and Marriott International Inc., which is set to manage the six hotels on the East Coast and in Long Beach for Sunstone.
The hotels expand Sunstone beyond its base in the West. Before the deal, about 35 of Sunstone’s 54 hotels were in the West, with about half of those in California.
